HomeFinancial MarketsWhy Assembly Biosciences Inc. (ASMB) stock had a good Wednesday?

Why Assembly Biosciences Inc. (ASMB) stock had a good Wednesday?

Assembly Biosciences Inc. (ASMB) shares jumped 11.21% in after-hours on Wednesday, November 24, 2021, and closed the daily trading at $2.58. Even in the regular trading session of Wednesday, ASMB’s stock gained 1.31%. ASMB shares have fallen 57.97% over the last 12 months, and they have moved down 6.83% in the past week. Over the past three months, the stock has lost 37.13%, while over the past six months, it has shed 41.27%.

Let’s discuss its recent developments briefly.


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ASMB participation in the upcoming event

Assembly Biosciences, Inc. (ASMB) will participate at HEP DART 2021, which is to be held on December 7, 2021, at 5:45 – 7:30 pm MST. William Delaney, Ph.D., chief scientific officer, will present “Development of HBV Core Inhibitors for the treatment of Chronic Hepatitis B Infection” at the event.

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ASMB New Data presentation at AASLD Meeting™

On November 12, 2021, Assembly Biosciences, Inc. (ASMB), presented preclinical data from the company’s newly selected core inhibitor candidate, ABI-4334 (4334), and clinical results from the Phase 1a study of ABI-H3733 (3733) in healthy volunteers at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting™.

The company also highlighted news data from the Phase 2 study of its investigational candidate vebicorvir (VBR) in an oral presentation on Sunday, November 14, 2021.

ASMB latest financial results

On November 04, 2021, Assembly Biosciences, Inc. (ASMB), reported financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • ASMB reported total collaborative research revenue of $6.3 million in Q3 2021 compared to $34.6 million for the same period in 2020.
  • Research and development expenses were 18.5 million in Q3 2021 compared to $26.9 million in Q3 2020.
  • General and administrative expenses were $6.7 million in Q3 2021 compared to $11.7 million for the same period in 2020.
  • It suffered a net loss of $18.8 million, or $0.41 per basic and diluted share, for the three months ended September 30, 2021, compared to $3.3 million, or $0.09 per basic and diluted share, for the same period in 2020.
  • The company ended the quarter with cash, and cash equivalents, and marketable securities of $190.1 million compared to $199.1 million as of June 30, 2021.

ASMB & Antios Therapeutics partnership

On October 19, 2021, Antios Therapeutics, Inc. and Assembly Biosciences, Inc. (ASMB) entered into a clinical collaboration agreement to evaluate a triple combination treatment in patients with chronic hepatitis B virus (HBV) infection. A single cohort in the ongoing Antios Phase 2a ANTT201 clinical trial will evaluate ATI-2173, Antios’ investigational proprietary active site polymerase inhibitor nucleotide (ASPIN), vebicorvir (VBR), Assembly Bio’s investigational lead core inhibitor candidate, and tenofovir disoproxil fumarate, a nucleotide reverse transcriptase inhibitor.

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Conclusion

Well, as of this writing, there is no recent news or development behind its good performance on Wednesday. we hope that it will perform well on Friday as well.

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