ASMB Stock — Assembly Biosciences Inc.: Cash, EV, Pipeline

What they do

We are a biotechnology company developing innovative therapeutics targeting serious viral diseases with the potential to improve the lives of patients worldwide.

Source: 10-K FY2025 via SEC EDGAR

Share price

$22.30

Market cap

$454.0M

Cash

$320.4M

Enterprise value

$133.6M

Balance sheet

Cash	$320.4M
Debt	$0.0M
Net cash	$320.4M
Enterprise value	$133.6M
Basic shares	20.4M shares
Fully diluted shares	33.4M shares
Fully diluted market cap	$745.0M
Cash per share	$15.74
Quarterly burn	$15.5M
Cash runway	20.7 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-10.

Share structure

Common

20.4M

Pre-funded warrants

1.5M

Options

1.2M

RSUs

0.9M

Warrants

9.5M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.0M

FDSO

33.4M

Cap table as of 2026-06-30.

Price history

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Recently reported

ABI-6250 Phase 1 Positive · 2026-10-05

ABI-6250 · chronic hepatitis d infection

Source release →

Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

GS-5366

Phase 1 · Active Modality: oral small molecule (long-acting)

Aliases ABI-5366, 5366

Target HSV helicase-primase

Partnerships Gilead Sciences: exercised option December 2025 to exclusively license the HPI program including 5366 and 1179; development now in Gilead's sole control; $100M upfront under 2023 Gilead collaboration

Indications

Recurrent genital herpes (Phase 1)

Status note Phase 1a/b complete; ready for Phase 2, but Gilead does not intend to develop 5366 further at this time (Gilead selected 1179 to advance).

GS-1179

Phase 1 · Active Modality: oral small molecule (long-acting, once-weekly)

Aliases ABI-1179, 1179

Target HSV helicase-primase

Partnerships Gilead Sciences: exercised option December 2025 to exclusively license the HPI program; development now in Gilead's sole control; $100M upfront under 2023 Gilead collaboration

Indications

Recurrent genital herpes (Phase 1)

Catalysts

— end of 2026

Status note Phase 1a/b complete; Gilead received clinical development plan in June 2026 and selected 1179 to advance. Possible combination evaluation with HIV PrEP under consideration.

ABI-6250

Phase 1 · Active Modality: oral small molecule (entry inhibitor)

Aliases 6250

Target NTCP (sodium taurocholate cotransporting polypeptide)

Indications

Chronic hepatitis delta virus (HDV) infection (Phase 2)
Primary biliary cholangitis / primary sclerosing cholangitis (Phase 2)

Catalysts

— Q4 2026
— Q1 2027

Status note Phase 2 preparation ongoing in both HDV and CLD; pre-IND meeting with FDA supported CLD program advancement. $115M financing expected to fund both Phase 2 studies.

ABI-4334

Phase 1 · Active Modality: oral small molecule

Aliases 4334

Target HBV capsid (capsid assembly modulator)

Indications

Chronic hepatitis B virus (HBV) (Phase 1)

Status note Positive Phase 1b topline reported. Company evaluating partnering opportunities via a structured process to further advance the program.

ABI-7272

Preclinical · Active Modality: oral small molecule

Aliases 7272

Target viral polymerase

Indications

Transplant-related herpesviruses (Stage not disclosed)

Status note Novel oral broad-spectrum non-nucleoside polymerase inhibitor (NNPI); undergoing studies to enable a regulatory filing.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ABI-6250
Lead indication	Chronic Hepatitis D Infection
Lead phase	Phase 2
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07762027	Phase 2	Not yet recruiting	Sponsor	Assembly Biosciences	—	Chronic Hepatitis D Infection	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Assembly Biosciences on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	1,020,410	no change	0.24%	2026-08-14
Ally Bridge Group	140,000	+140,000	4.96%	2026-08-14
ADAR1 Capital Management	20,447	+500	0.03%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ASMB — Assembly Biosciences Inc. ☆

What they do

Balance sheet

Share structure

Price history

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

ASMB — Assembly Biosciences Inc.