Unity Biotechnology slips as co faces Nasdaq delisting, plans dissolution

Shares of drug developer Unity Biotechnology UBX.O fall 8% to 71 cents premarket

Co was notified by Nasdaq on June 27 that it will be delisted because it's considered a "public shell" with no operating business - SEC filing

Co's board approves a plan to dissolve the firm

Co's CEO, CFO and Chief Legal Officer all step down

Craig Jalbert was appointed as the sole remaining director, and all officer positions

Jalbert will be paid $10,000 per month until dissolution approval, then $50,000 per year for three years

Co says it is still trying to find ways to monetize its assets but hasn't found viable alternatives to dissolution

As of last close, stock down 21% YTD