Recent Data Publications Highlight the Benefits of Oxylanthanum Carbonate (OLC) to Improve Medication Adherence and Quality of Life for Patients with Chronic Kidney Disease
Feedback from FDA Expected in Fall 2023 for OLC Program
UNI-494 Phase 1 Trial Progressing as Planned with IND Application Expected in 2024
“Data publications and presentations continue to highlight the benefits of both our lead asset, Oxylanthanum Carbonate (OLC), and UNI-494 targeting treatment for patients with life threatening kidney diseases,” said
“Preclinical data from UNI-494 presented this quarter highlighted its novel mechanism of action to restore mitochondrial function. Importantly, the data showed UNI-494 was well tolerated and may protect the kidney against harmful effects related to acute kidney injury, a condition for which there are currently no approved treatments. Our Phase 1 study is ongoing in the
Key Highlights
- The
American Journal of Nephrology published positive results on the phosphate binding capacity for OLC showing that OLC had the lowest daily phosphate binder dose volume and the lowest volume required to bind one gram of phosphate compared to five other commercially available phosphate binders. - Presented preclinical data highlighting the potential safety and suggestive efficacy of UNI-494 in oral presentations at the 60th
European Renal Association Congress (ERA 2023). - Adopted the non-proprietary name, oxylanthanum carbonate (OLC) by the United States Adopted Name (USAN) organization, replacing lanthanum dioxycarbonate (LDC).
Financial Results for the Second Quarter Ended
Research and Development (R&D) Expenses: R&D expenses for the quarter ended
General and Administrative (G&A) Expenses: G&A for the quarter ended
Other Income (Expenses): Other income (expenses) for the quarter ended
Net Loss: Net loss attributable to common stockholders for the quarter ended
Cash Position: As of
About Oxylanthanum Carbonate (OLC)
Oxylanthanum carbonate is a next-generation lanthanum-based phosphate binding agent utilizing proprietary nanoparticle technology being developed for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD). OLC has over forty issued and granted patents globally. Its potential best-in-class profile may have meaningful patient adherence benefits over currently available treatment options as it requires a lower pill burden for patients in terms of number and size of pills per dose that are swallowed instead of chewed. Based on a survey conducted in 2022, Nephrologists stated that the greatest unmet need in the treatment of hyperphosphatemia with phosphate binders is a lower pill burden and better patient compliance.1 The global market opportunity for treating hyperphosphatemia is projected to be in excess of
Unicycive is seeking FDA approval of OLC via the 505(b)(2) regulatory pathway. As part of the clinical development program, two clinical studies were conducted in over 100 healthy volunteers. The first study was a dose-ranging Phase I study to determine safety and tolerability. The second study was a randomized, open-label, two-way crossover bioequivalence study to establish pharmacodynamic bioequivalence between OLC and Fosrenol. Based on the topline results of the bioequivalence study, pharmacodynamic (PD) bioequivalence of OLC to Fosrenol was established.
Fosrenol® is a registered trademark of
1
About UNI-494
UNI-494 is a novel patent-protected drug that selectively binds to the SUR2B subunit of the mitochondrial KATP channel and activates it to restore mitochondrial function and reduce oxidative stress. The totality of the data presented so far this year, underscore UNI-494’s potential to be safe, reno-protective, and to have low risk of drug-drug interactions, all of which are important findings for this product candidate as a promising therapeutic for acute kidney injury, a condition for which there are currently no FDA approved therapies.
About Unicycive Therapeutics
Forward-looking statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern Unicycive's expectations, strategy, plans or intentions. These forward-looking statements are based on Unicycive's current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; risks related to business interruptions which could seriously harm our financial condition and increase our costs and expenses; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Unicycive’s Annual Report on Form 10-K for the year ended
Investor Contact:
ir@unicycive.com
(650) 900-5470
SOURCE:
Balance Sheets | |||||||||
(in thousands, except for share and per share amounts) | |||||||||
As of | As of | ||||||||
2022 | 2023 | ||||||||
(Unaudited) | |||||||||
Assets | |||||||||
Current assets: | |||||||||
Cash | $ | 455 | $ | 18,818 | |||||
Prepaid expenses and other current assets | 2,189 | 3,112 | |||||||
Total current assets | 2,644 | 21,930 | |||||||
Right of use asset, net | 152 | 923 | |||||||
Property, plant and equipment, net | 22 | 30 | |||||||
Total assets | $ | 2,818 | $ | 22,883 | |||||
Liabilities and stockholders’ (deficit) equity | |||||||||
Current liabilities: | |||||||||
Accounts payable | $ | 892 | $ | 503 | |||||
Accrued liabilities | 2,237 | 1,689 | |||||||
Warrant liability | - | 12,924 | |||||||
Operating lease liability - current | 155 | 303 | |||||||
Total current liabilities | 3,284 | 15,419 | |||||||
Operating lease liability - long term | - | 634 | |||||||
Total liabilities | 3,284 | 16,053 | |||||||
Commitments and contingencies | |||||||||
Mezzanine equity: | |||||||||
Series A-1 preferred stock, | - | 26,202 | |||||||
Stockholders’ deficit: | |||||||||
Preferred stock, | $ | - | $ | - | |||||
Common stock, | 15 | 15 | |||||||
Additional paid-in capital | 33,516 | 33,023 | |||||||
Accumulated deficit | (33,997 | ) | (52,410 | ) | |||||
Total stockholders’ deficit | (466 | ) | (19,372 | ) | |||||
Total liabilities, mezzanine equity, and stockholders’ deficit | $ | 2,818 | $ | 22,883 |
Statements of Operations | |||||||||
(in thousands, except for share and per share amounts) | |||||||||
(Unaudited) | |||||||||
Three Months Ended | Three Months Ended | ||||||||
2022 | 2023 | ||||||||
Licensing revenues: | $ | - | $ | - | |||||
Operating expenses: | |||||||||
Research and development | 1,860 | 2,267 | |||||||
General and administrative | 1,776 | 2,055 | |||||||
Total operating expenses | 3,636 | 4,322 | |||||||
Loss from operations | (3,636 | ) | (4,322 | ) | |||||
Other income (expenses): | |||||||||
Interest income | - | 234 | |||||||
Interest expense | - | (32 | ) | ||||||
Change in fair value of warrant liability | - | 282 | |||||||
Total other income (expenses) | - | 484 | |||||||
Net loss | $ | (3,636 | ) | $ | (3,838 | ) | |||
Deemed dividend to Series A-1 preferred stockholders | - | (603 | ) | ||||||
Net loss attributable to common stockholders | $ | (3,636 | ) | $ | (4,441 | ) | |||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.24 | ) | $ | (0.29 | ) | |||
Weighted-average shares outstanding used in computing net loss per share, basic and diluted | 15,028,689 | 15,234,570 |
Source:
2023 GlobeNewswire, Inc., source