Assembly Bioscie - ASMB STOCK NEWS

Assembly Biosciences, Inc. (Nasdaq: ASMB) has decided to wind down its microbiome program to concentrate resources on advancing its hepatitis B virus (HBV) therapeutic portfolio. This strategic move aims to enhance the company's focus on developing core inhibitors for chronic HBV treatments. As of September 30, 2020, Assembly Bio reported cash reserves of approximately $238M, projected to sustain operations into the second half of 2022. The decision does not stem from any negative data regarding the microbiome program and is anticipated to conclude by January 31, 2021.

Assembly Biosciences, Inc. (Nasdaq: ASMB), announced the grant of stock options for 14,520 shares to three new employees, with an exercise price of $5.66 per share, based on the closing price on December 1, 2020. The options will vest over four years, with one-fourth vesting after the first year and the remaining in monthly installments. This grant is part of the 2017 Inducement Award Plan and was approved by the Compensation Committee. The new employees do not hold executive positions.

Assembly Biosciences, Inc. (ASMB) announces the appointment of Nicole S. White, PhD, as Senior Vice President of Pharmaceutical Development and Manufacturing. With over 20 years in the field, Dr. White's experience includes leadership roles at Gilead Sciences and Gossamer Bio. She will play a crucial role in advancing the company's pipeline, particularly the core inhibitor vebicorvir, which is set for Phase 3 studies next year. This strategic addition aims to enhance Assembly's capabilities in developing novel therapeutics for hepatitis B virus (HBV) and microbiome-related diseases.

Assembly Biosciences (Nasdaq: ASMB) has entered a two-year exclusive collaboration with Door Pharmaceuticals to develop a novel class of hepatitis B virus (HBV) core protein modulators. The partnership will leverage Door's discovery platform, which targets functions of HBV core proteins that could disrupt viral nucleic acid activity. Assembly Biosciences will fund the research and retains the option to license resulting compounds. Chronic HBV affects over 250 million globally, necessitating innovative therapies to improve cure rates.

Assembly Biosciences, a clinical-stage biotechnology company, reported its HBV core inhibitor programs' data at the AASLD 2020 conference. The findings highlighted the differentiated safety profile of vebicorvir in combination with nucleos(t)ide therapy, potentially offering improved chronic suppressive therapy for HBV patients. Notable outcomes from the studies include a stable safety profile for vebicorvir over 1.5 years and the significance of HBV pgRNA as a biomarker. Upcoming Phase 3 trials are planned for vebicorvir in 2021.

Assembly Biosciences, Inc. (Nasdaq: ASMB) has granted stock options to a new employee, allowing the purchase of 6,520 shares at an exercise price of $14.75 per share, aligning with the company's closing stock price on November 2, 2020. The options, part of the 2020 Inducement Award Plan, vest over four years, with one-fourth vesting on the first anniversary. This grant serves as a material inducement for the employee to join Assembly. The award was approved by an independent Compensation Committee, adhering to Nasdaq Listing Rule 5635(c)(4).

Assembly Biosciences (ASMB) reported its Q3 2020 financial results, highlighting a strong cash position of $237.9 million, sufficient to fund operations into H2 2022. Revenue surged to $34.6 million, up from $4.2 million in Q3 2019, driven by a collaboration agreement with BeiGene. R&D expenses increased to $26.9 million, primarily for the HBV program. Despite a net loss of $3.3 million, a significant reduction from $25 million in the prior year, the company continues to advance its HBV pipeline, anticipating Phase 3 studies for its lead candidate, vebicorvir, in H1 2021.

Assembly Biosciences (ASMB) has released interim results from its Phase 2 Study 211, which assesses the off-treatment response of its core inhibitor vebicorvir (VBR) in chronic HBV patients. The study, however, has not achieved a meaningful sustained virologic response (SVR), with 39 of 41 patients relapsing post-treatment. Specifically, only 4% of HBeAg negative and 6% of HBeAg positive patients maintained SVR. Despite these disappointing outcomes, Assembly Bio plans to proceed with a Phase 3 trial for vebicorvir as a chronic suppressive therapy in partnership with BeiGene, targeting the significant unmet need in HBV treatment.

Assembly Biosciences, Inc. (Nasdaq: ASMB) announced that new clinical and preclinical data on its hepatitis B virus (HBV) core inhibitor portfolio will be presented at The Liver Meeting Digital Experience™ from November 13-16, 2020. Four abstracts, including two late-breaking posters, highlight research on the long-term safety of ABI-H0731 and associations between HBV pgRNA and HCC development. Assembly's HBV pipeline includes three core inhibitors, with vebicorvir showing superior antiviral activity in Phase 2 trials. Both vebicorvir and ABI-H2158 have received Fast Track designation from the FDA.