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Unity Biotechnology, Inc. (OTC:UNBX), whose stock has declined over 96% in the past six months according to InvestingPro data, announced that its stockholders have approved the company’s plan of complete liquidation and dissolution. The decision was made at a special meeting held Thursday, with the results disclosed in a press release statement based on a recent SEC filing. The company’s financial health score stands at 1.72, rated as ’WEAK’ by InvestingPro’s comprehensive analysis system.
At the special meeting, stockholders were asked to vote on two proposals: the approval of the dissolution of the company and its plan of liquidation, and the approval of potential adjournments of the meeting to solicit additional proxies if needed. According to the filing, as of the record date of July 25, 2025, there were 17,212,172 shares of common stock and one share of Series A Preferred Stock outstanding. The preferred share carried 600,000,000 votes, which were required to be cast in the same proportion as the common shares on the dissolution proposal.
A quorum was present, representing 97.36% of the outstanding voting power. The dissolution proposal received 450,228,768 votes in favor, 150,685,568 votes against, and 30,268 abstentions. The adjournment proposal received 744,698 votes for, 166,100 against, and 33,806 abstentions.
With the approval of the dissolution proposal, Unity Biotechnology’s board of directors is authorized to proceed with the liquidation and dissolution of the company according to the approved plan. The board retains discretion on the timing of filing a certificate of dissolution and may choose to abandon or amend the plan if deemed in the best interest of the company or its stockholders, as permitted by Delaware law.
Unity Biotechnology’s common stock was suspended from trading on Nasdaq on July 9, 2025, and was delisted effective August 16, 2025. The shares now trade on the OTC Pink Limited Market under the symbol UNBX, with the stock currently trading at $0.07, down 93% year-to-date. InvestingPro subscribers have access to over 10 additional key insights and real-time metrics about the company’s financial situation and market performance.
All information in this article is based on a press release statement and the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Unity Biotechnology received a delisting notice from Nasdaq, which has significant implications for the company. The Nasdaq Stock Market’s Listing Qualifications Department expressed concerns that Unity Biotechnology might be operating as a "public shell" with limited operations. The biotech firm was informed that this decision was influenced by several factors, including a substantial workforce reduction announced in May and the closure of its ASPIRE study. Furthermore, Nasdaq pointed to Unity’s financial projections, lack of revenue, and minimal investment in revenue-producing assets as reasons for the delisting notice. This development follows the company’s evaluation of strategic alternatives, which has yet to yield a clear path forward. These recent developments have raised questions about the company’s future operations and financial health.
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