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Unicycive Therapeutics Inc. (UNCY+11.50%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing innovative therapies for kidney disease, with two main programs: Oxylanthanum Carbonate for hyperphosphatemia and UNI-494 for acute kidney injury.
Unicycive reported a net loss of $36.7 million for 2024, compared to a net loss of $30.5 million in 2023. The increase in net loss was primarily due to higher research and development expenses.
Research and development expenses increased to $20.0 million in 2024 from $12.9 million in 2023, driven by higher drug development costs.
General and administrative expenses also rose to $12.1 million in 2024 from $8.5 million in 2023, largely due to increased consulting and professional services costs.
The company raised $50 million in a private placement in March 2024 and entered into a sales agreement to offer up to $50 million in common stock with Guggenheim Securities in November 2024.
Unicycive's cash balance was $26.1 million as of December 31, 2024, up from $9.7 million at the end of 2023, reflecting the proceeds from recent financing activities.
The company anticipates needing additional capital to continue its development programs and is exploring various financing options.
Unicycive's pipeline includes Oxylanthanum Carbonate, which is under review by the FDA with a PDUFA date set for June 28, 2025, and UNI-494, which has completed a Phase I study in healthy volunteers.
The filing also outlines the company's strategic focus on licensing technologies and drugs to pursue development, regulatory approval, and commercialization in global markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Unicycive Therapeutics Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.