Assembly Biosciences Says It Will Receive $30.1 Million Funding From Gilead Sciences

MT Newswires Live12-19

Assembly Biosciences (ASMB) said Thursday it will receive $30.1 million from Gilead Sciences (GILD), including $20.1 million through an equity investment that raises Gilead's ownership in the company to 29.9%, and $10 million in accelerated funding.

The company said the funding is expected to support Assembly Biosciences' pipeline, including updates to clinical strategies for ABI-6250, an experimental oral treatment for hepatitis D virus, and ongoing trials for treatments targeting herpesviruses and hepatitis B virus.

Data from multiple clinical studies, including for ABI-5366, is expected in 2025, Assembly Biosciences said. The cash infusion is expected to extend Assembly's financial runway to mid-2026, the company added.

Assembly Biosciences shares were up more than 13% in recent Thursday premarket activity, while Gilead stock was down 0.3%.

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