ASSEMBLY BIOSCIENCES, INC.
ASMB evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ASMB—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ASMB
Assembly Biosciences is a biotechnology company developing innovative therapeutics targeting serious viral diseases, with a pipeline including long-acting helicase-primase inhibitors for herpes and other antiviral candidates.
Key risk: Clinical development risk
BioSniper Score
Based on 6 of 6 signals
Market Cap
$693.7M
Cash Runway
59.7 moLead Asset
abi-1179 (Phase 1)
Next Catalyst
Phase2_Start · Oct 1, 2026Financial data as of Jun 30, 2026.
Tracking 7 pipeline candidates · 4 clinical trials · 2 catalysts for ASSEMBLY BIOSCIENCES, INC..
Assembly Biosciences is a biotechnology company developing innovative therapeutics targeting serious viral diseases, with a pipeline including long-acting helicase-primase inhibitors for herpes and other antiviral candidates.
- Raised $175 million in August 2025 through an underwritten offering and a private placement to Gilead Sciences, extending cash runway into 2028 [sec · filed 2026-04-22].
- Reported positive interim data from the Phase 1a/b study of ABI-5366, a long-acting helicase-primase inhibitor for recurrent genital herpes [sec · filed 2025-04-23].
- Cash and equivalents of $32.3M as of 2026-06-30, with total revenue of $13.4M and net loss of -$3.9M for the same period [sec].
- Completed IND/CTA-enabling studies for ABI-5366, ABI-1179, and ABI-6250, initiating clinical trials for each [sec · filed 2025-04-23].
- Gilead Sciences exercised an option to exclusively license Assembly's long-acting helicase-primase inhibitor, providing $35 million in additional funding [sec · filed 2026-04-22].
What works
- Strong balance sheet with cash runway extended into 2028 following a $175 million capital raise in August 2025 [sec · filed 2026-04-22].
- Positive clinical data from ABI-5366 Phase 1a/b study led to a significant increase in market capitalization and stock price [sec · filed 2026-04-22].
- Strategic collaboration with Gilead Sciences, including an equity investment and option exercise, providing financial and development support [sec · filed 2026-04-22].
What to weigh
- Net loss of -$3.9M as of 2026-06-30, indicating ongoing operational expenses exceeding revenue [sec].
- Dependence on future financing to support pipeline advancement, as operating expenses are expected to increase [sec_mda · as of 2026-08-13].
- Clinical-stage company with no approved products, relying on successful development and regulatory approval of candidates [sec_mda · as of 2026-03-19].
From the filings
Quoted directly from source documents.
Company raised $175 million in August 2025 to extend cash runway.
“Strengthened our balance sheet by raising $175 million in August 2025, extending our cash runway into 2028”
SEC filings · April 22, 2026
Positive interim data from ABI-5366 Phase 1a/b study.
“Phase 1b interim data far exceeded targets”
SEC filings · April 22, 2026
Gilead exercised option to license long-acting helicase-primase inhibitor.
“Gilead exercising its option to exclusively license our long-acting helicase-primase inhibitor”
SEC filings · April 22, 2026
Catalyst timeline
- 2026-10-01 · Phase2_Start — Phase 2 Start: A Phase 2, Multicenter, Open Label, Parallel-Group Study of the Safety, Pharmacokinetics, and Effica — Initiation of Phase 2 study for ABI-6250, evaluating safety, pharmacokinetics, and efficacy.
- 2026-12-31 · Phase2_Topline · abi-6250 — Phase 2 Readout: abi-6250 — Topline data readout from Phase 2 study of ABI-6250, providing initial efficacy and safety signals.
Risks & what to watch (3)›
Key risks
- Clinical development risk — Pipeline candidates may fail in clinical trials, leading to delays or inability to commercialize [sec_mda · as of 2026-03-19].
- Financing dependency — Future operating expenses will increase, requiring additional capital that may not be available on favorable terms [sec_mda · as of 2026-08-13].
- Regulatory approval uncertainty — No approved products; all candidates are in clinical or preclinical stages, with no guarantee of regulatory success [sec_mda · as of 2026-03-19].
What to watch
- Phase 2 start for ABI-6250 expected on 2026-10-01 [catalyst].
- Phase 2 topline data for ABI-6250 expected by 2026-12-31 [catalyst].
- Progress of ABI-5366 Phase 1b study and potential Phase 2 initiation [sec · filed 2026-04-22].
- Future financing activities and cash runway updates [sec_mda · as of 2026-08-13].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
59.7 months
D/E 0.08 · 0% dilution
Lead: Phase 2
7 candidates
2 upcoming, next in ~32d
0 buys · 5 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
72
Total value held
$378.0M
| Holder | Shares | Value |
|---|---|---|
| gilead sciences, inc. | 4,505,391 | $125.0M |
| janus henderson group plc | 1,698,618 | $47.0M |
| farallon capital management llc | 1,227,590 | $34.1M |
| ra capital management, l.p. | 1,020,410 | $28.3M |
| commodore capital lp | 1,000,000 | $27.8M |
| vanguard capital management llc | 980,894 | $27.2M |
| stempoint capital lp | 370,870 | $10.3M |
| blackstone inc. | 296,855 | $8.2M |
| millennium management llc | 233,650 | $6.5M |
| blackrock, inc. | 202,743 | $5.6M |
Showing top 10 of 72 institutional holders of ASSEMBLY BIOSCIENCES, INC.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 14.4%
- Days to cover
- 15.9
- Shares short
- 1,557,158
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ASMB short interestGovernance
Frequently asked questions
What is the AI investment thesis for ASSEMBLY BIOSCIENCES, INC.?
Assembly Biosciences is a biotechnology company developing innovative therapeutics targeting serious viral diseases, with a pipeline including long-acting helicase-primase inhibitors for herpes and other antiviral candidates.
What is ASSEMBLY BIOSCIENCES, INC.'s lead drug candidate?
ASSEMBLY BIOSCIENCES, INC.'s most advanced tracked candidate is abi-1179 (Phase 1) for Recurrent Genital Herpes Simplex Type 2.
What is ASSEMBLY BIOSCIENCES, INC.'s next catalyst?
ASSEMBLY BIOSCIENCES, INC.'s next tracked catalyst is a Phase2_Start event — "Phase 2 Start: A Phase 2, Multicenter, Open Label, Parallel-Group Study of the Safety, Pharmacokinetics, and Effica" — expected October 1, 2026.
Who is the CEO of ASSEMBLY BIOSCIENCES, INC.?
Mr. Jason A. Okazaki J.D. is the chief executive officer of ASSEMBLY BIOSCIENCES, INC. (ASMB).
Where is ASSEMBLY BIOSCIENCES, INC. headquartered?
ASSEMBLY BIOSCIENCES, INC. (ASMB) is headquartered in South San Francisco, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.