Assembly Biosciences, Inc. (ASMB) Bundle
An Overview of Assembly Biosciences, Inc. (ASMB)
General Summary of Assembly Biosciences, Inc. (ASMB)
Assembly Biosciences, Inc. (ASMB) is a clinical-stage biotechnology company focused on developing innovative therapies for viral infections, particularly hepatitis B virus (HBV) and hepatitis D virus (HDV). Founded in 2005, the company has established a robust pipeline of product candidates aimed at addressing significant unmet medical needs in liver disease. The company operates out of its corporate offices and research laboratories in South San Francisco, California.
As of 2024, Assembly's primary product candidates include:
- ABI-H0731: An oral antiviral candidate targeting HBV.
- ABI-H2158: A novel entry inhibitor for HBV.
- ABI-H6250: An entry inhibitor for HDV.
Despite its promising pipeline, Assembly has not yet generated revenue from product sales. The company has primarily funded its operations through equity financings and strategic collaborations. As of September 30, 2024, the company reported an accumulated deficit of $815.6 million.
Company's Financial Performance in the Latest Financial Reports
In the latest financial reporting period, Assembly Biosciences recorded notable growth in collaboration revenue, primarily due to the Gilead Collaboration Agreement established in October 2023. The company reported:
- Collaboration revenue of $6.8 million for the three months ended September 30, 2024.
- Collaboration revenue of $21.2 million for the nine months ended September 30, 2024.
Operating expenses for the nine months ended September 30, 2024, amounted to $55.1 million, with research and development expenses totaling $41.7 million, reflecting a 10% increase from the previous year. The company reported a net loss of $29.8 million for the nine months ended September 30, 2024, compared to a net loss of $50.3 million for the same period in 2023.
Cash flows also showed a positive trend, with a net increase of $8.6 million in cash and cash equivalents for the nine months ended September 30, 2024, compared to a decrease of $25.8 million in the same period of 2023. The company raised approximately $100 million through its collaboration with Gilead, which significantly bolstered its liquidity.
| Financial Metric | 2024 (9 Months) | 2023 (9 Months) | Change |
|---|---|---|---|
| Collaboration Revenue | $21.2 million | $0 | +100% |
| Operating Expenses | $55.1 million | $52.1 million | +6% |
| Net Loss | $(29.8) million | $(50.3) million | Improvement |
| Net Cash Increase | $8.6 million | $(25.8) million | Improvement |
Introduction to Company as a Leader in the Industry
Assembly Biosciences, Inc. is positioned as a leader in the biotechnology sector, specifically in the development of therapies for viral hepatitis. The company's strategic partnership with Gilead Sciences enhances its capabilities and market reach, providing access to significant resources and expertise. The collaboration is expected to accelerate the development of Assembly's pipeline and facilitate the commercialization of new therapies once they receive regulatory approvals.
Given its innovative approach and robust pipeline, Assembly Biosciences is well-positioned to make substantial contributions to the treatment landscape for liver diseases. Investors and stakeholders are encouraged to explore further details about the company's operations and potential market impact as they continue to advance their research and development efforts.
Mission Statement of Assembly Biosciences, Inc. (ASMB)
Mission Statement of Assembly Biosciences, Inc. (ASMB)
Assembly Biosciences, Inc. (ASMB) aims to advance innovative therapies for viral diseases, particularly focusing on hepatitis B virus (HBV) and hepatitis D virus (HDV). The company's mission is to leverage its proprietary technology to develop treatments that can potentially cure these chronic infections, enhancing patient outcomes globally. This mission is significant as it guides Assembly's strategic initiatives and research directions, aligning its resources towards the long-term goal of addressing critical unmet medical needs in viral hepatitis.
Core Component 1: Innovation
Innovation is at the heart of Assembly Biosciences' mission. The company invests heavily in research and development (R&D) to create breakthrough therapies. For the nine months ended September 30, 2024, Assembly reported R&D expenses of $41.7 million, reflecting a 10% increase from $37.9 million in the same period of the previous year . This investment underscores the commitment to pioneering treatments that tackle complex viral infections.
Assembly's innovative pipeline includes several promising candidates, such as the HDV entry inhibitor ABI-H 6250 and the HBV core inhibitor ABI-H 1179, which were both nominated for further development in 2024. This focus on innovative therapies positions the company as a leader in the fight against viral hepatitis, aiming for significant advancements in treatment options.
Core Component 2: Collaboration
Collaboration plays a crucial role in Assembly's strategic framework. In October 2023, the company entered into a significant collaboration agreement with Gilead Sciences, Inc., which provided Assembly with $100 million in gross proceeds. This collaboration not only enhances financial resources but also facilitates access to Gilead's extensive expertise and capabilities in drug development.
As of September 30, 2024, Assembly recognized $21.2 million in collaboration revenue from this agreement, marking a substantial milestone in the company’s financial performance. Such partnerships are vital for accelerating drug development timelines and expanding the reach of Assembly's innovative therapies, demonstrating a collaborative approach to achieving its mission.
Core Component 3: Patient-Centric Focus
Assembly Biosciences emphasizes a patient-centric approach in its mission. The company's goal is to develop therapies that not only manage but potentially cure chronic viral infections. This focus is reflected in the ongoing clinical trials aimed at demonstrating the efficacy and safety of its product candidates, thereby ensuring that treatments align with patient needs and expectations.
As of September 30, 2024, the company reported an accumulated deficit of approximately $815.6 million, indicating the significant investment made towards developing its pipeline and the long-term vision of delivering effective therapies to patients. This financial commitment is a testament to Assembly's dedication to transforming the lives of individuals affected by viral diseases.
| Financial Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Research and Development Expenses | $41.7 million | $37.9 million | +10% |
| Collaboration Revenue | $21.2 million | $0 | 100% |
| Accumulated Deficit | $815.6 million | $785.7 million | +3.5% |
Assembly Biosciences' mission statement encapsulates its core values of innovation, collaboration, and patient-centric focus, driving the company towards achieving its long-term objectives in the biopharmaceutical industry.
Vision Statement of Assembly Biosciences, Inc. (ASMB)
Vision Statement Overview
The vision statement of Assembly Biosciences, Inc. (ASMB) as of 2024 focuses on advancing innovative therapies to transform the treatment landscape for viral diseases, particularly hepatitis B and hepatitis D. The company aims to be a leader in the biopharmaceutical industry by leveraging cutting-edge science and strategic collaborations.
Innovative Therapeutic Development
Assembly Biosciences is committed to developing novel therapies that address unmet medical needs. As of September 30, 2024, the company has reported a significant increase in research and development expenses, amounting to $41.7 million for the nine months ended September 30, 2024, compared to $37.9 million for the same period in 2023, reflecting a 10% increase in investment in their pipeline development.
Strategic Collaborations
The company entered into a transformative collaboration with Gilead Sciences in October 2023, which provided Assembly with total proceeds of $100 million. This collaboration aims to accelerate the development of Assembly's hepatitis B and D therapies. In the nine months ended September 30, 2024, Assembly recognized $21.2 million in collaboration revenue as a result of this partnership.
Focus on Patient-Centric Solutions
Assembly's vision includes a strong emphasis on patient outcomes, aiming to provide effective treatments that improve the quality of life for patients suffering from chronic viral infections. The company’s recent advancements include the nomination of their HDV entry inhibitor, 6250, which has been identified as a key candidate in their pipeline.
Financial Performance and Funding
As of September 30, 2024, Assembly has raised an aggregate of $631.2 million in net proceeds through equity financings and $185.7 million through strategic collaborations to support its operations. The financial strategy is aimed at sustaining long-term research initiatives and ensuring adequate funding for ongoing and future clinical trials.
Commitment to Scientific Excellence
Assembly Biosciences is dedicated to maintaining high standards in scientific research and innovation. The company has incurred $50.7 million in net cash used for operating activities for the nine months ended September 30, 2024, underscoring its commitment to advancing its research agenda despite operational losses.
| Financial Metric | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) | % Change |
|---|---|---|---|
| Research and Development Expenses | $41.7 million | $37.9 million | 10% |
| Collaboration Revenue | $21.2 million | $0 | 100% |
| Net Cash Used in Operating Activities | $50.7 million | $50.9 million | -0.4% |
| Total Proceeds from Gilead Collaboration | $100 million | N/A | N/A |
| Total Funding Raised (Equity & Collaborations) | $631.2 million | N/A | N/A |
Future Aspirations
Looking ahead, Assembly intends to expand its pipeline and explore additional collaborations that align with its vision of transforming treatment options for viral diseases. The company anticipates that its existing cash, cash equivalents, and marketable securities will enable it to fund operations into 2026, while also seeking additional funding to support its ambitious research objectives.
Core Values of Assembly Biosciences, Inc. (ASMB)
Commitment to Innovation
Assembly Biosciences, Inc. (ASMB) places a strong emphasis on innovation as a core value, driving the development of its pipeline of therapeutics. This commitment is exemplified by the advancement of its clinical-stage products, particularly the helicase-primase inhibitors (HPI) for herpes virus treatment. As of September 2024, the company reported interim data from its Phase 1a study of the HPI program, which demonstrated significant potential for once-weekly oral dosing, supporting further progression into Phase 1b studies.
Integrity and Transparency
Integrity and transparency are foundational to ASMB's operations, reflecting its commitment to ethical practices in research and development. The company has maintained open communication with stakeholders, particularly regarding its collaboration with Gilead Sciences, which provided $100 million in upfront payments as part of their agreement. This collaboration has been pivotal, generating $21.2 million in collaboration revenue during the first nine months of 2024.
Collaboration and Teamwork
ASMB values collaboration and teamwork, evident in its partnerships with organizations such as Gilead and Arbutus Biopharma. The company collaborates on clinical trials, sharing responsibilities and costs. For instance, the Arbutus Biopharma Agreement involved shared costs for a Phase 2 clinical trial, showcasing ASMB's commitment to collaborative research.
Patient-Centric Approach
A patient-centric approach is central to ASMB's core values, ensuring that the development of therapies aligns with patient needs. The company focuses on conditions with significant unmet medical needs, such as hepatitis B and herpes viruses, which affect millions globally. The World Health Organization estimates that 254 million people are chronically infected with hepatitis B, highlighting the urgency of ASMB's work.
Commitment to Excellence
Assembly Biosciences strives for excellence in all aspects of its operations, from research and development to financial management. The company has reported a net loss of $29.8 million for the nine months ended September 30, 2024, reflecting its ongoing investment in the advancement of its product candidates. Research and development expenses totaled $41.7 million during the same period, indicating a robust commitment to enhancing its therapeutic offerings.
| Core Value | Description | Examples |
|---|---|---|
| Innovation | Focus on developing cutting-edge therapeutics | Advancement of HPI program; Phase 1a study results |
| Integrity and Transparency | Commitment to ethical practices | Open communications regarding Gilead collaboration |
| Collaboration and Teamwork | Partnerships to enhance research capabilities | Joint clinical trials with Gilead and Arbutus |
| Patient-Centric Approach | Focusing on unmet medical needs | Targeting hepatitis B and herpes virus treatments |
| Commitment to Excellence | Striving for high standards across operations | Substantial R&D investment; financial reporting |
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Resources:
- Assembly Biosciences, Inc. (ASMB) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Assembly Biosciences, Inc. (ASMB)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Assembly Biosciences, Inc. (ASMB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.