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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 (ASMB) announced preclinical data from its immuno-oncology microbiome program showcased at the American Association for Cancer Research Virtual Annual Meeting II. The poster highlights the discovery of a live biotherapeutic product (LBP) targeting solid tumors, revealing single bacterial strains with significant anti-tumor activity. The program aims to enhance the efficacy of checkpoint inhibitors. Assembly’s lead candidate, ABI-M201, is in a Phase 1b trial for ulcerative colitis, while ABI-M301 is in preclinical stages for Crohn's disease.
Assembly Biosciences, Inc. (Nasdaq: ASMB) has regained worldwide rights to its microbiome gastrointestinal programs previously licensed to AbbVie, which has terminated their collaboration agreement. No safety or efficacy concerns were cited. The Company plans to explore strategic alternatives for ongoing development of its microbiome programs, including ABI-M201, currently in Phase 1b trials for ulcerative colitis. Assembly anticipates its cash reserves of $249.1 million will fund operations into 2022. The transition is expected to complete by Q4 2020.
Assembly Biosciences (Nasdaq: ASMB) announced inducement grants of stock options and restricted stock units to its Chief Scientific Officer, Dr. William Delaney, and eight new employees. Dr. Delaney received options to purchase 100,000 shares at an exercise price of $20.52 and 45,000 restricted stock units. The new employees received options for a total of 75,040 shares at $18.82 each. These awards are part of a recruitment strategy, complying with Nasdaq's inducement rules and are subject to vesting periods. The company specializes in therapeutics for hepatitis B and microbiome-related diseases.
Assembly Biosciences, Inc. (Nasdaq: ASMB) will hold its 2020 Annual Meeting of Stockholders virtually on June 11, 2020, at 8:00 AM PDT, due to the COVID-19 pandemic. Stockholders of record as of April 13, 2020, can participate via audio webcast, vote, and ask questions. Despite the transition to an online format, the previously distributed proxy materials remain valid for voting. Stockholders should log in at least 15 minutes early and can access support for any technical issues during the meeting.
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