Assembly Biosciences, Inc.
- Open
- 27.44
- Day high
- 27.64
- Day low
- 26.67
- Prev close
- 27.48
- Volume
- 96K
- Mkt cap
- $428M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.2
- P/S
- 6.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$674 over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
Assembly Biosciences, Inc. (ASMB) is a Healthcare company listed on NASDAQ. The stock is up 55% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Assembly Biosciences, Inc. (ASMB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ASMB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.73 | $-0.54 | +26.0% | $8M | -11.4% |
| Mar 19, 2026 | $-0.51 | $2.48 | +586.3% | $42M | +472.2% |
| Aug 6, 2025 | $-0.65 | $-1.33 | -103.6% | $10M | +3.2% |
| May 8, 2025 | $-2.01 | $-1.17 | +41.8% | $9M | +27.0% |
| Mar 20, 2025 | $-1.75 | $-1.57 | +10.3% | $7M | +107.2% |
| Nov 7, 2024 | $-2.02 | $-1.51 | +25.2% | $7M | -2.9% |
| Aug 8, 2024 | $-2.96 | $-1.98 | +33.1% | $9M | +43.2% |
| May 8, 2024 | $-2.74 | $-1.66 | +39.4% | $6M | — |
| May 4, 2023 | $-4.44 | $-4.44 | +0.0% | — | — |
| Mar 22, 2023 | $-6.72 | $-5.52 | +17.9% | — | — |
| May 12, 2022 | $-5.88 | $-5.76 | +2.0% | — | — |
| Mar 10, 2022 | $-6.00 | $-4.92 | +18.0% | — | — |
ASMB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Bjorkquist Jeanette Mofficer: PFO and PAO | Sell | 29 | $23.25 |
| Jun 5, 2026 | Delaney William E IVofficer: Chief Scientific Officer | Grant | 14,000 | — |
| Jun 5, 2026 | Okazaki Jason Adirector, officer: CEO and President | Grant | 50,750 | — |
| Jun 5, 2026 | Bjorkquist Jeanette Mofficer: PFO and PAO | Grant | 3,500 | — |
| Jun 5, 2026 | ALTIG ANTHONY Edirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | Consylman Ginadirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | Houghton Michaeldirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | Johnson-Pratt Lisadirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | Mahony Susandirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | McHutchison John Gdirector | Grant | 8,000 | $24.11 |
| Jun 5, 2026 | White Nicole Sofficer: Chief Manufacturing Officer | Grant | 14,000 | — |
| Jun 5, 2026 | Gaggar Anujofficer: Chief Medical Officer | Grant | 14,000 | — |
| May 27, 2026 | GILEAD SCIENCES, INC.10 percent owner | Grant | 471,698 | $26.50 |
| Mar 31, 2026 | Bjorkquist Jeanette Mofficer: PFO and PAO | Sell | 16 | $27.49 |
| Mar 31, 2026 | Bjorkquist Jeanette Mofficer: PFO and PAO | Grant | 6,500 | — |
Source: ASMB SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full ASMB insider & 13F page →Assembly Biosciences, Inc. company profile
Overview
Assembly Biosciences, Inc. (NASDAQ:ASMB) is a clinical-stage biotechnology company founded in 2005 and headquartered in South San Francisco, California. Originally incorporated as Ventrus Biosciences, the company changed its name to Assembly Biosciences in June 2014. The company went public in December 2010 and focuses exclusively on developing therapeutic treatments for hepatitis B virus (HBV) infection, a serious liver disease that affects hundreds of millions of people worldwide.
Business
Assembly Biosciences operates in the biotechnology sector, specifically targeting treatments for chronic hepatitis B virus infection. Hepatitis B is a viral infection that attacks the liver and can cause both acute and chronic disease, potentially leading to liver cirrhosis, liver cancer, and death if left untreated. Current standard treatments can suppress the virus but rarely achieve a functional cure, creating a significant unmet medical need. The company's drug development pipeline consists of three main therapeutic candidates. Vebicorvir is the lead product candidate that has completed Phase 2 clinical trials. This drug belongs to a class called core protein allosteric modulators (CpAMs), which work by targeting the hepatitis B virus core protein and disrupting viral replication through a novel mechanism of action. ABI-H3733 has completed Phase 1a clinical studies and represents another approach to HBV treatment. The company is also developing ABI-4334, which remains in pre-clinical trials. Beyond internal development, Assembly Biosciences generates revenue through strategic partnerships and licensing agreements. The company has collaboration agreements with BeiGene Ltd., Arbutus Biopharma Corporation, and Antios Therapeutics to evaluate combination treatments. It also maintains strategic license agreements with Indiana University Research and Technology Corporation and Door Pharmaceuticals LLC. Based on recent financial data, the company's revenue primarily comes from these partnership and licensing arrangements rather than product sales, as none of its therapeutic candidates have yet received regulatory approval for commercial use.
Revenue model
Assembly Biosciences generates revenue primarily through licensing fees, milestone payments, and research collaboration agreements with pharmaceutical partners. The company's business model is typical of clinical-stage biotechnology firms - it develops drug candidates through clinical trials and monetizes its intellectual property and research capabilities through partnerships before achieving commercial product sales. The company's paying customers are primarily large pharmaceutical companies and research institutions that license its technology or collaborate on drug development programs. Recent annual revenue has ranged from approximately $7-29 million, derived from partnership agreements rather than product sales. For instance, the company reported $28.5 million in revenue for 2024, representing milestone payments and licensing fees from its various collaborations. Several factors significantly impact the company's financial margins and business prospects. Regulatory approval timelines represent the primary risk, as clinical trial failures or delays can eliminate revenue streams and require additional capital investment. Competition from other HBV treatments in development could reduce the commercial potential of Assembly's candidates. Partnership dynamics heavily influence revenue, as the company depends on milestone achievements and continued collaboration interest from partners. Capital market conditions affect the company's ability to raise funds for continued operations, while clinical trial costs represent the largest operational expense. Success in clinical trials would dramatically improve margins by advancing toward commercial revenues, while failures would eliminate future revenue potential from affected programs.
Competitive moat
Assembly Biosciences operates in a competitive biotechnology landscape with limited sustainable moats typical of early-stage drug development companies. The company's primary competitive advantage lies in its specialized expertise in hepatitis B virus core protein modulation and its established intellectual property portfolio around CpAM technology. However, this moat is relatively narrow and vulnerable. The company's partnerships with established pharmaceutical companies like BeiGene provide some competitive positioning through access to resources, regulatory expertise, and potential commercial channels. The specific mechanism of action of its lead candidate Vebicorvir may offer differentiation from existing HBV treatments, but this advantage is unproven until clinical efficacy is demonstrated in later-stage trials. Significant competitive threats come from multiple directions. Large pharmaceutical companies with substantially greater resources are developing competing HBV treatments, including combination therapies that may prove more effective. The hepatitis B treatment landscape includes established players with approved therapies and deep pockets for research and development. Additionally, the company faces the fundamental biotechnology risk that its novel approach may not prove clinically superior to existing treatments or other approaches in development. The company's moat is further weakened by its dependence on external partnerships for funding and development resources. Without significant proprietary manufacturing capabilities, established commercial infrastructure, or diversified revenue streams, Assembly Biosciences remains highly vulnerable to competitive pressures and clinical setbacks. The moat should be considered weak, with the company's future largely dependent on clinical trial outcomes rather than sustainable competitive advantages.
Risks & safety
Assembly Biosciences presents significant financial risks typical of clinical-stage biotechnology companies, with limited margin of safety for investors. • Cash burn and solvency risk: The company burned $51.1 million in operating cash flow during 2024, with only $38.3 million in cash and short-term investments as of Q4 2024. At current burn rates, the company has less than one year of operating runway without additional financing. • Debt levels: Relatively low debt-to-equity ratio of 0.09, indicating minimal leverage but also reflecting the company's pre-revenue status and reliance on equity financing. • Valuation metrics: Trading at negative earnings multiples due to losses, with price-to-book ratio of 2.84. The company's market capitalization of approximately $124 million appears high relative to its limited revenue base and cash position. • Current ratio: Strong at 2.42, indicating ability to meet short-term obligations, though this will deteriorate rapidly given the cash burn rate. • Revenue dependency: Heavy reliance on partnership milestone payments creates unpredictable revenue streams, with total 2024 revenue of only $28.5 million insufficient to cover operating expenses. The margin of safety is extremely thin, with the company facing near-term financing needs and binary clinical trial outcomes that could dramatically impact valuation.
Recent development
Based on the available financial data, Assembly Biosciences has maintained its focus on hepatitis B virus treatment development over recent years, though specific strategic details are limited due to the absence of earnings call transcripts. The company's revenue pattern shows significant volatility, ranging from zero revenue in 2022 to $28.5 million in 2024, indicating the milestone-driven nature of its partnership agreements. The most notable development appears to be the progression of clinical programs, with Vebicorvir completing Phase 2 trials and ABI-H3733 completing Phase 1a studies. The company has maintained its collaboration strategy, working with multiple pharmaceutical partners including BeiGene, Arbutus Biopharma, and Antios Therapeutics on combination treatment approaches. Financial management has been a key focus, with the company managing cash resources through a challenging period. The cash position declined from over $52 million at the end of 2022 to $38.3 million by Q4 2024, reflecting continued investment in clinical development despite the high burn rate. Revenue generation through partnerships has provided some offset to operational expenses, though not sufficient to achieve profitability. The company appears to be positioning for potential regulatory submissions and commercial partnerships as its lead candidates advance through clinical development, though the timeline and success of these efforts remain uncertain given the inherent risks in biotechnology development.
ASMB company profile · for informational purposes only — not investment advice.
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