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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 | 50.00 | 13.30 | 12.81 | 13.30 | 4,556 | 05:00:05 |
From May 2023 to May 2024
By Colin Kellaher
Shares of Assembly Biosciences more than doubled in premarket trading Tuesday after the biotechnology company inked a collaboration deal potentially worth hundreds of millions of dollars with Gilead Sciences.
As part of the 12-year agreement, Assembly is receiving an upfront payment of $100 million from Gilead, including $85 million in cash and a $15 million equity investment at $1.16 a share, a 60% premium to Monday's closing price of 72.6 cents.
The initial purchase gives Gilead a 19.9% stake in Assembly, which had a market capitalization of about $37.4 million based on Monday's closing price.
Assembly shares were recently up 130% to $1.67 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 17, 2023 08:29 ET (12:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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