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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Assembly Biosciences Inc | NASDAQ:ASMB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.34 | 2.65% | 13.15 | 12.51 | 13.25 | 13.30 | 12.81 | 13.30 | 4,556 | 21:35:32 |
“During the third quarter, we have advanced clinical development of both of our next-generation, more potent core inhibitors with the Phase 1b study of 3733 on track to report initial data by the end of this year and the initiation of the first clinical study for 4334,” said John McHutchison, AO, MD, chief executive officer of Assembly Bio. “This quarter also marked the further expansion of our pipeline with the introduction of our first research programs outside of HBV and hepatitis delta virus. These programs, targeting high-recurrence genital herpes and transplant-associated herpesviruses, apply the deep expertise of our organization in small molecule antiviral drug development to develop differentiated approaches for viral diseases with significant unmet medical need. We are thrilled with the progress of our preclinical and clinical programs, and we remain encouraged about the potential for our next-generation core inhibitors with the recently presented data at AASLD and upcoming clinical data readout for 3733.”
Recent Updates
Anticipated Milestones and Events
Upcoming Conferences
Third Quarter 2022 Financial Results
About Assembly BiosciencesAssembly Bio is a clinical-stage biotechnology company pioneering the development of novel therapeutics for serious viral diseases. Assembly Bio is advancing a leading portfolio of more potent, next-generation core inhibitor drug candidates that aim to break the complex viral replication cycle of hepatitis B virus (HBV) to achieve finite and potentially curative therapies for the 296 million people living with HBV worldwide. The company’s research pipeline includes differentiated antiviral approaches against HBV/hepatitis delta virus and herpesviruses. For more information, visit assemblybio.com.
Forward-Looking StatementsThe information in this press release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to materially differ. These risks and uncertainties include: Assembly Bio’s ability to successfully execute its previously announced reprioritization and restructuring activities, including the CEO transition; potential adverse legal, reputational, operational and financial effects on Assembly Bio resulting from the reprioritization and restructuring activities; Assembly Bio’s ability to initiate and complete clinical studies involving its therapeutic product candidates, including studies contemplated by Assembly Bio’s collaboration agreements, in the currently anticipated timeframes; safety and efficacy data from clinical studies may not warrant further development of Assembly Bio’s product candidates; clinical and nonclinical data presented at conferences may not differentiate Assembly Bio’s product candidates from other companies’ candidates; results of nonclinical studies may not be representative of disease behavior in a clinical setting and may not be predictive of the outcomes of clinical studies; continued development and commercialization of ABI-H3733, if successful, in the China territory will be dependent on, and subject to, Assembly Bio’s collaboration agreement governing this activity in the China territory; Assembly Bio’s ability to maintain financial resources necessary to continue its clinical studies and fund business operations; any impact that the COVID-19 pandemic may have on Assembly Bio’s business and operations, including initiation, enrollment and continuation of its clinical studies or timing of discussions with regulatory authorities; and other risks identified from time to time in Assembly Bio’s reports filed with the U.S. Securities and Exchange Commission (the SEC). You are urged to consider statements that include the words may, will, would, could, should, might, believes, hopes, estimates, projects, potential, expects, plans, anticipates, intends, continues, forecast, designed, goal or the negative of those words or other comparable words to be uncertain and forward-looking. Assembly Bio intends such forward-looking statements to be covered by the safe harbor provisions contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. More information about Assembly Bio’s risks and uncertainties are more fully detailed under the heading “Risk Factors” in Assembly Bio’s filings with the SEC, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Except as required by law, Assembly Bio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
ContactsInvestor and Corporate:Shannon RyanSVP, Investor Relations, Corporate Affairs and Alliance Management(415) 738-2992sryan@assemblybio.com
Media:Sam Brown Inc. Hannah Hurdle (805) 338-4752 ASMBMedia@sambrown.com
ASSEMBLY BIOSCIENCES, INC. | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(In thousands except for share amounts and par value) | |||||||
September 30, | December 31, | ||||||
2022 | 2021 | ||||||
(Unaudited) | |||||||
ASSETS | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 54,673 | $ | 45,627 | |||
Marketable securities - short-term | 53,978 | 101,000 | |||||
Accounts receivable from collaborations | 1,246 | 336 | |||||
Prepaid expenses and other current assets | 5,181 | 7,241 | |||||
Total current assets | 115,078 | 154,204 | |||||
Marketable securities - long-term | — | 27,972 | |||||
Property and equipment, net | 867 | 1,139 | |||||
Operating lease right-of-use (ROU) assets | 3,958 | 6,042 | |||||
Other assets | 1,613 | 1,703 | |||||
Total assets | $ | 121,516 | $ | 191,060 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current liabilities | |||||||
Accounts payable | $ | 1,942 | $ | 2,659 | |||
Accrued research and development expenses | 4,462 | 3,400 | |||||
Other accrued expenses | 5,686 | 6,863 | |||||
Operating lease liabilities - short-term | 3,371 | 3,151 | |||||
Total current liabilities | 15,461 | 16,073 | |||||
Deferred revenue | 2,733 | 2,733 | |||||
Operating lease liabilities - long-term | 918 | 3,325 | |||||
Total liabilities | 19,112 | 22,131 | |||||
Commitments and contingencies | |||||||
Stockholders' equity | |||||||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding | — | — | |||||
Common stock, $0.001 par value; 150,000,000 and 100,000,000 shares authorized as of September 30, 2022 and December 31, 2021, respectively; 48,481,194 and 48,120,437 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively | 48 | 48 | |||||
Additional paid-in capital | 805,480 | 800,728 | |||||
Accumulated other comprehensive loss | (999 | ) | (419 | ) | |||
Accumulated deficit | (702,125 | ) | (631,428 | ) | |||
Total stockholders' equity | 102,404 | 168,929 | |||||
Total liabilities and stockholders' equity | $ | 121,516 | $ | 191,060 | |||
ASSEMBLY BIOSCIENCES, INC. | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||||||||||
(In thousands except for share and per share amounts) | |||||||||||||||
(Unaudited) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||
Collaboration revenue | $ | — | $ | 6,254 | $ | — | $ | 6,254 | |||||||
Operating expenses: | |||||||||||||||
Research and development | 18,130 | 18,474 | 53,127 | 53,777 | |||||||||||
General and administrative | 5,271 | 6,655 | 18,009 | 22,276 | |||||||||||
Total operating expenses | 23,401 | 25,129 | 71,136 | 76,053 | |||||||||||
Loss from operations | (23,401 | ) | (18,875 | ) | (71,136 | ) | (69,799 | ) | |||||||
Other income: | |||||||||||||||
Interest and other income, net | 256 | 72 | 439 | 201 | |||||||||||
Total other income | 256 | 72 | 439 | 201 | |||||||||||
Net loss | $ | (23,145 | ) | $ | (18,803 | ) | $ | (70,697 | ) | $ | (69,598 | ) | |||
Other comprehensive loss | |||||||||||||||
Unrealized loss on marketable securities | (1 | ) | (15 | ) | (580 | ) | (18 | ) | |||||||
Comprehensive loss | $ | (23,146 | ) | $ | (18,818 | ) | $ | (71,277 | ) | $ | (69,616 | ) | |||
Net loss per share, basic and diluted | $ | (0.48 | ) | $ | (0.41 | ) | $ | (1.46 | ) | $ | (1.63 | ) | |||
Weighted average common shares outstanding, basic and diluted | 48,448,399 | 45,569,276 | 48,289,501 | 42,725,109 | |||||||||||
1 Year Assembly Biosciences Chart |
1 Month Assembly Biosciences Chart |
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