** Shares of drug developer Unicycive Therapeutics UNCY.O rise 9.5% to $7.69 premarket

** Co says FDA accepted for review its resubmitted application for oxylanthanum carbonate, a pill for high phosphate levels in dialysis patients

** High phosphate levels occur in people with late‑stage kidney disease when the body cannot remove excess minerals, per co

**  Co says FDA raised no initial concerns on safety or effectiveness; decision expected by June 27

**  UNCY's drug aims to cut pill burden to help patients stay on treatment; possible launch later this year if approved, co says

** Shares down ~27% in 2025

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))