Assembly Biosciences, Inc. reports developments for a clinical-stage biotechnology business focused on small-molecule therapeutics for serious viral diseases. Its recurring updates center on investigational antiviral candidates for herpes simplex virus, hepatitis delta virus and hepatitis B virus, including helicase-primase inhibitors ABI-5366 and ABI-1179, the HDV entry inhibitor ABI-6250 and the HBV capsid assembly modulator ABI-4334.
Company news also covers clinical data presentations, financial results, research and collaboration revenue, the Gilead collaboration and licensing activity, and equity financing transactions that support pipeline development.
Assembly Biosciences Appoints Dr. Michael Houghton to Board
Assembly Biosciences, Inc. (Nasdaq: ASMB) has appointed Sir Michael Houghton, PhD, a Nobel Prize-winning virologist, to its board of directors. Dr. Houghton, renowned for discovering the hepatitis C virus, brings over 40 years of drug development experience. His expertise is expected to enhance Assembly Bio's efforts towards finite and curative therapies for hepatitis B virus (HBV), targeting over 250 million individuals globally. CEO John McHutchison emphasized the potential impact of Dr. Houghton’s insights on the company's innovative therapeutic pipeline.
Assembly Biosciences (ASMB), a clinical-stage biotechnology company, announced the grant of stock options to three new employees for a total of 21,520 shares at an exercise price of $3.82. The options have a ten-year term and will vest over four years. This grant is part of Assembly Bio's 2020 Inducement Award Plan and aims to support the hiring of new talent as part of their commitment to developing innovative therapeutics for hepatitis B virus (HBV). The approval was made by the Compensation Committee, consisting of independent directors.
Assembly Biosciences (Nasdaq: ASMB) presented data from its core inhibitor programs during the International Liver Congress™ 2021, focusing on hepatitis B virus (HBV) therapies.
CEO John McHutchison highlighted the promising efficacy of their lead candidate, vebicorvir (VBR), alongside next-generation candidates ABI-H2158 and ABI-H3733. These drugs aim for deeper virologic suppression in HBV patients. The data showed significant plasma concentrations above effective levels, indicating potential improved outcomes. However, no sustained virologic response was observed in patients stopping VBR treatment.
Assembly Biosciences (Nasdaq: ASMB) announced that three abstracts related to their hepatitis B virus (HBV) therapeutics will be presented at the International Liver Congress™ 2021 from June 23-26, 2021. The company will showcase findings on its core inhibitor programs, vebicorvir (VBR), ABI-H2158, and ABI-H3733. Key presentations include an oral discussion on the enhanced potency of the next-generation inhibitors and two posters revealing resistance data and treatment response following therapy discontinuation.
Chronic HBV affects approximately 270 million people worldwide, highlighting the urgent need for effective treatments.
Assembly Biosciences (Nasdaq: ASMB) announced stock options granted to six new employees, totaling 106,520 shares at an exercise price of $4.03, the closing price on June 1, 2021. These options serve as inducements for employment and have a ten-year term with a four-year vesting schedule. The options were approved by the Compensation Committee as per Nasdaq regulations and fall under the 2017 Inducement Award Plan. Assembly Bio focuses on innovative therapeutics for hepatitis B, aiming to develop curative therapies for the 270 million global patients.
Assembly Biosciences, Inc. (Nasdaq: ASMB) has appointed Dr. Lisa Johnson-Pratt to its board of directors. With over 20 years in drug development, she previously led commercial strategies at Ionis Pharmaceuticals and GlaxoSmithKline. Dr. Johnson-Pratt will contribute her expertise in clinical programs and commercialization as Assembly Bio advances its hepatitis B virus (HBV) treatment pipeline. Her appointment comes as the company aims to provide innovative, curative therapies for the 270 million individuals suffering from HBV globally.
Assembly Biosciences, Inc. (ASMB) announced the granting of stock options to three new employees, totaling 25,000 shares at an exercise price of $4.16 per share. This measure is designed to attract talent, with options vesting over four years and subject to continued employment. The options were approved by the Compensation Committee, adhering to Nasdaq Listing Rule 5635(c)(4). Assembly Bio is focused on innovative therapies for hepatitis B virus (HBV), aiming to provide curative solutions to the estimated 270 million people affected globally.
Assembly Biosciences, Inc. (ASMB) reported financial results for Q1 2021, focusing on hepatitis B virus (HBV) therapies. The company initiated two Phase 2 triple combination studies with its lead core inhibitor candidate, vebicorvir (VBR). Financially, cash and equivalents stood at $214.9 million, sufficient to fund operations into 2023. However, revenues fell to $0 due to the wind-down of the microbiome program, while R&D expenses decreased to $18.6 million. The net loss for the quarter was $27.2 million, or $0.69 per share, marginally higher than the previous year.
Assembly Biosciences (Nasdaq: ASMB) announced the grant of stock options to three new employees, totaling 26,000 shares at an exercise price of $5.05 per share. This initiative serves as a material inducement for the new hires to join the company. The options carry a ten-year term and vest over four years, with a quarter vesting on the first anniversary. The grants adhere to Nasdaq Listing Rule 5635(c)(4) and are part of Assembly Bio's 2020 Inducement Award Plan, approved by the Compensation Committee, which comprises only independent directors.
Assembly Biosciences (ASMB) reported its financial results for Q4 and the fiscal year ended December 31, 2020. The company is concentrating on developing finite and curative therapies for chronic hepatitis B, halting Phase 3 studies of vebicorvir as a chronic suppressive treatment. They reported revenues of $79.1 million for 2020, a significant increase from $16.0 million in 2019, largely due to collaborations with BeiGene and Abbvie. R&D expenses rose to $106.8 million, reflecting a growing focus on HBV. The net loss for 2020 was $62.2 million, showing improvement from $97.6 million in 2019.