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Assembly Biosciences | 8-K: Assembly Biosciences Reports Third Quarter 2024 Financial Results and Recent Updates

SEC ·  Nov 8, 2024 05:22

Summary by Moomoo AI

Assembly Biosciences reported Q3 2024 financial results with a net loss of $9.6M ($1.51 per share), compared to $14.4M loss in Q3 2023. Revenue reached $6.8M from the Gilead collaboration, while R&D expenses increased to $13.5M from $10.8M YoY. The company maintained a strong cash position of $95M, projected to fund operations into Q1 2026.The company announced positive Phase 1a interim data for ABI-5366, its HSV helicase-primase inhibitor for recurrent genital herpes, demonstrating favorable safety profile and ~20-day half-life supporting potential once-weekly and once-monthly oral dosing. Phase 1b trial has commenced with interim data expected in H1 2025.Assembly Bio continues to advance its pipeline with ABI-4334's Phase 1b trial ongoing in chronic HBV patients, expecting interim data by year-end 2024. Additionally, two new candidates, ABI-1179 and ABI-6250, are on track to enter clinical trials by end of 2024, marking significant progress in the company's viral disease portfolio.
Assembly Biosciences reported Q3 2024 financial results with a net loss of $9.6M ($1.51 per share), compared to $14.4M loss in Q3 2023. Revenue reached $6.8M from the Gilead collaboration, while R&D expenses increased to $13.5M from $10.8M YoY. The company maintained a strong cash position of $95M, projected to fund operations into Q1 2026.The company announced positive Phase 1a interim data for ABI-5366, its HSV helicase-primase inhibitor for recurrent genital herpes, demonstrating favorable safety profile and ~20-day half-life supporting potential once-weekly and once-monthly oral dosing. Phase 1b trial has commenced with interim data expected in H1 2025.Assembly Bio continues to advance its pipeline with ABI-4334's Phase 1b trial ongoing in chronic HBV patients, expecting interim data by year-end 2024. Additionally, two new candidates, ABI-1179 and ABI-6250, are on track to enter clinical trials by end of 2024, marking significant progress in the company's viral disease portfolio.
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