Assembly Bioscie - ASMB STOCK NEWS

Assembly Biosciences announced the closure of $12.6 million in equity financings from Armistice Capital and Gilead Sciences. The funds will support Assembly's antiviral portfolio, with clinical data readouts expected for ABI-5366 and ABI-4334 in the coming years.

The equity financings involve the sale of common stock and warrants at $15.46 per share with warrants exercisable at $17.00. These transactions extend Assembly's cash runway into Q1 2026 and maintain Gilead's 19.9 percent ownership, with an option to increase up to 29.9 percent.

Assembly intends to use the proceeds for general corporate purposes and further advance its clinical candidates, with significant near-term milestones anticipated.

Assembly Biosciences has initiated a Phase 1a/b clinical trial for ABI-5366, a new helicase-primase inhibitor targeting herpes simplex virus (HSV). The Phase 1a trial involves single ascending doses in healthy participants, with interim data expected by Q3 2024. Phase 1b will start by the end of the year with multiple ascending weekly doses in patients with recurrent genital herpes, with interim data expected in the first half of 2025. ABI-5366 has shown strong potential in preclinical studies, potentially offering a long-acting treatment for HSV-1 and HSV-2. Existing treatments are and not fully effective, highlighting the need for new therapeutic options in this area.

Assembly Biosciences showcased new preclinical data for ABI-6250, an orally bioavailable hepatitis D virus (HDV) entry inhibitor, at the EASL Congress 2024. The data underline ABI-6250's potential to block HDV from entering cells, targeting the NTCP bile acid transporter with high selectivity. The preclinical results showed effective inhibition of HDV infection and NTCP-mediated bile acid uptake, supporting once-daily oral dosing. Clinical trials are expected to begin by the end of 2024. Chronic HDV is a severe viral hepatitis form, leading to liver complications and potential death. ABI-6250 promises to be a significant therapeutic innovation in viral hepatitis treatment.

Assembly Biosciences (Nasdaq: ASMB) will present preclinical data from its HSV and HDV therapeutics at the International Herpesvirus Workshop (July 13-17, 2024) and EASL Congress 2024 (June 5-8, 2024). Data for ABI-5366 and ABI-1179, targeting recurrent genital herpes, will be featured in one oral and two poster presentations. ABI-6250, aimed at treating chronic hepatitis D, will be presented as a poster. The company anticipates starting clinical trials for ABI-5366 mid-year and for ABI-1179 and ABI-6250 by the end of 2024.

Assembly Biosciences, Inc. (Nasdaq: ASMB) reported financial results for Q1 2024, including regulatory clearances for Phase 1 trials for ABI-5366 targeting recurrent genital herpes and ABI-4334 in chronic HBV infection. The company highlighted upcoming clinical milestones, abstract acceptance for ABI-6250 at EASL CongressTM 2024, and financial results showing $113.0 million in cash as of March 31, 2024. Revenues from collaborative research were $5.8 million, with research and development expenses at $11.9 million and a net loss of $9.1 million for Q1 2024.

Assembly Biosciences, Inc. reported financial results for Q4 2023 and year-end 2023, showcasing progress in antiviral pipeline development. The company entered a partnership with Gilead Sciences, strengthened leadership, and filed a clinical trial application for ABI-5366. Anticipated milestones include interim data from Phase 1a studies by Q3 2024 and Phase 1b studies by end of 2024. Financially, the company's cash position improved significantly, with $130.2 million in cash, cash equivalents, and marketable securities as of December 31, 2023.

Assembly Biosciences, Inc. (ASMB) announced a 1-for-12 reverse stock split of its outstanding shares, reducing the number of shares from approximately 65.8 million to approximately 5.5 million. The split will not affect the number of authorized shares or the par value of the common stock. The split is expected to bring the company into compliance with the minimum bid price requirement for maintaining its listing on The Nasdaq Global Select Market.

Assembly Biosciences, a biotechnology company (Nasdaq: ASMB), plans to expand its R&D portfolio across herpesviruses and hepatitis B and D viruses. They anticipate four development candidates to be in the clinic by the end of 2024, with initial clinical data expected by the end of the year from the first-in-human study of long-acting helicase-primase inhibitor targeting recurrent genital herpes (ABI-5366) and Phase 1b study of next-generation core inhibitor for chronic hepatitis B virus (ABI-4334). Assembly Bio recently announced a long-term partnership with Gilead Sciences, Inc. to address serious viral diseases, expanding and building on the progress of their antiviral portfolio.

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