Full Press Release Details
– Released positive Phase 1b interim results for long-acting helicase-primase inhibitor candidate ABI-5366 showing significant reductions in viral shedding rate and genital lesion rate in recurrent genital herpes –
– Announced Phase 1a interim results for orally bioavailable HDV entry inhibitor candidate ABI-6250 supporting progression into Phase 2 evaluation –
– Additional interim Phase 1b data readouts from HSV program anticipated to include monthly oral dosing for ABI-5366 and two cohorts of weekly oral dosing for ABI-1179, with data now expected by end of year –
– Raised $175 million gross proceeds from equity financings –
SOUTH SAN FRANCISCO, Calif., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a biotechnology company developing innovative therapeutics targeting serious viral diseases, today reported financial results and recent updates for the third quarter ended September 30, 2025.
“Our third quarter was marked by significant progress across our pipeline and important data releases, particularly the impressive interim antiviral activity and clinical outcomes data from our Phase 1b study for ABI-5366 in participants with recurrent genital herpes,” said Jason Okazaki, chief executive officer and president of Assembly Bio. “The $175 million equity investment we completed in August enables us to advance both our HSV and HDV programs into Phase 2 while continuing our efforts to discover and develop new programs. With enrollment in our Phase 1b study for ABI-5366 and two cohorts in our Phase 1b study for ABI-1179 now complete, we look forward to sharing additional data updates from our HSV program later this year.”
Third Quarter 2025 and Recent Highlights
Anticipated Milestones and Events
ABI-1179 was contributed by Gilead Sciences, Inc. (Gilead) under the collaboration between Assembly Bio and Gilead. ABI-5366, ABI-1179, ABI-6250 and ABI-4334 are investigational product candidates that have not been approved anywhere globally, and their safety and efficacy have not been established.
Third Quarter 2025 Financial Results
About Assembly BiosciencesAssembly Biosciences is a biotechnology company dedicated to the development of innovative small-molecule therapeutics designed to change the path of serious viral diseases and improve the lives of patients worldwide. Led by an accomplished team of leaders in virologic drug development, Assembly Bio is committed to improving outcomes for patients struggling with the serious, chronic impacts of herpesvirus, hepatitis B virus (HBV) and hepatitis delta virus (HDV) infections. 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 realize the potential benefits of its collaboration with Gilead, including all financial aspects of the collaboration and equity investments; Assembly Bio’s ability to initiate and complete clinical studies involving its therapeutic product candidates, including studies contemplated by Assembly Bio’s collaboration with Gilead, in the currently anticipated timeframes or at all; safety and efficacy data from clinical or nonclinical studies may not warrant further development of Assembly Bio’s product candidates; clinical and nonclinical data may not differentiate Assembly Bio’s product candidates from other companies’ candidates; Assembly Bio’s ability to maintain financial resources and secure additional funding necessary to continue its research activities, clinical studies, and other business operations; the U.S. federal government shutdown and potential effects of changes in government regulation, including as a result of the change in U.S. administration in 2025; 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; 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.
Investors:Patrick TillMeru Advisors(484) 788-8560investor_relations@assemblybio.com
Media:Sam Brown LLCAlyssa Kuciunas(331) 481-3751ASMBMedia@sambrown.com
| ASSEMBLY BIOSCIENCES, INC. | ||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||
| (In thousands except for share amounts and par value) | ||||||||||
| September 30, | December 31, | |||||||||
| 2025 | 2024 | |||||||||
| (Unaudited) | ||||||||||
| ASSETS | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | $ | 22,534 | $ | 38,344 | ||||||
| Marketable securities | 210,023 | 73,735 | ||||||||
| Accounts receivable from collaboration with a related party | 912 | |||||||||
| Prepaid expenses and other current assets | 3,343 | 3,424 | ||||||||
| Total current assets | 236,812 | 115,503 | ||||||||
| Property and equipment, net | 229 | 284 | ||||||||
| Operating lease right-of-use assets | 2,644 | 3,069 | ||||||||
| Other assets | 312 | 312 | ||||||||
| Total assets | $ | 239,997 | $ | 119,168 | ||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||
| Current liabilities | ||||||||||
| Accounts payable | $ | 1,683 | $ | 585 | ||||||
| Accrued research and development expenses | 3,058 | 2,273 | ||||||||
| Other accrued expenses | 5,728 | 6,862 | ||||||||
| Deferred revenue from a related party - short-term | 42,363 | 37,622 | ||||||||
| Operating lease liabilities - short-term | 548 | 461 | ||||||||
| Total current liabilities | 53,380 | 47,803 | ||||||||
| Deferred revenue from a related party - long-term | 1,715 | 35,378 | ||||||||
| Operating lease liabilities - long-term | 2,207 | 2,628 | ||||||||
| Total liabilities | 57,302 | 85,809 | ||||||||
| 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 shares authorized as of September 30, 2025 and December 31, 2024; 15,816,987 and 7,457,240 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 16 | 7 | ||||||||
| Additional paid-in capital | 1,036,906 | 859,488 | ||||||||
| Accumulated other comprehensive loss | (90 | ) | (211 | ) | ||||||
| Accumulated deficit | (854,137 | ) | (825,925 | ) | ||||||
| Total stockholders' equity | 182,695 | 33,359 | ||||||||
| Total liabilities and stockholders' equity | $ | 239,997 | $ | 119,168 | ||||||
| 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, | |||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||
| Collaboration revenue from a related party | $ | 10,789 | $ | 6,845 | $ | 29,834 | $ | 21,163 | ||||||||||
| Operating expenses | ||||||||||||||||||
| Research and development | 16,587 | 13,515 | 47,563 | 41,653 | ||||||||||||||
| General and administrative | 5,085 | 4,286 | 14,188 | 13,398 | ||||||||||||||
| Total operating expenses | 21,672 | 17,801 | 61,751 | 55,051 | ||||||||||||||
| Loss from operations | (10,883 | ) | (10,956 | ) | (31,917 | ) | (33,888 | ) | ||||||||||
| Other income | ||||||||||||||||||
| Interest and other income, net | 1,687 | 1,343 | 3,705 | 4,452 | ||||||||||||||
| Total other income | 1,687 | 1,343 | 3,705 | 4,452 | ||||||||||||||
| Loss before income taxes | (9,196 | ) | (9,613 | ) | (28,212 | ) | (29,436 | ) | ||||||||||
| Income tax expense | — | — | — | 406 | ||||||||||||||
| Net loss | $ | (9,196 | ) | $ | (9,613 | ) | $ | (28,212 | ) | $ | (29,842 | ) | ||||||
| Other comprehensive loss | ||||||||||||||||||
| Unrealized gain (loss) on marketable securities | 189 | 137 | 121 | (75 | ) | |||||||||||||
| Comprehensive loss | $ | (9,007 | ) | $ | (9,476 | ) | $ | (28,091 | ) | $ | (29,917 | ) | ||||||
| Net loss per share, basic and diluted | $ | (0.72 | ) | $ | (1.51 | ) | $ | (3.03 | ) | $ | (5.12 | ) | ||||||
| Weighted average common shares outstanding, basic and diluted | 12,686,122 | 6,351,431 | 9,301,740 | 5,827,750 | ||||||||||||||