Assembly Biosciences Announces Pricing of $60 Million Offering of Common Stock
November 02 2017 - 12:40AM
Assembly Biosciences, Inc. (NASDAQ:ASMB) (“Assembly” or the
“Company”), a clinical-stage biotechnology company advancing a new
class of oral therapeutic candidates for the treatment of hepatitis
B virus (HBV) infection and novel oral live biotherapeutic
candidates, which are designed to treat disorders associated with
the microbiome, today announced the pricing of an underwritten
public offering of 2,210,000 shares of its common stock to the
public at $27.25 per share. The offering is expected to close on or
about November 6, 2017, subject to the satisfaction of customary
closing conditions. The gross proceeds to Assembly from this
offering are expected to be $60,222,500, before deducting
underwriting discounts and commissions and other estimated offering
expenses payable by Assembly. Assembly has granted the underwriters
a 30-day option to purchase up to an additional 331,500 shares of
common stock at the offering price (less the underwriting discounts
and commissions). Assembly intends to use the net proceeds from the
sale of the common stock to fund clinical trials, nonclinical
studies, research and development and for general corporate
purposes.
Jefferies LLC and William Blair & Company, L.L.C. acted as
joint bookrunners for the offering.
The securities described above are being offered pursuant to a
shelf registration statement (File No. 333-208806), which was
declared effective by the United States Securities and Exchange
Commission (“SEC”) on January 19, 2016. A final prospectus
supplement relating to the offering will be filed with the SEC and
will be available on the SEC's web site at www.sec.gov. When
available, copies of the final prospectus supplement and
accompanying prospectus may be obtained by contacting Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, by telephone at (877)
547-6340, or by email at prospectus_department@jefferies.com; or
William Blair & Company, L.L.C., Attention: Prospectus
Department, 150 North Riverside Plaza, Chicago, IL 60606, by
telephone at (800) 621-0687, or by email at
prospectus@williamblair.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Assembly Biosciences Assembly
Biosciences, Inc. is a clinical-stage public biotechnology company
developing two innovative platform programs: an HBV program
advancing a new class of oral therapeutic candidates for the
treatment of hepatitis B virus (HBV) infection and a Microbiome
program developing novel oral live biotherapeutic candidates, which
are designed to treat disorders associated with the microbiome.
Assembly's HBV program is advancing multiple drug candidates with
the aim of increasing cure rates in patients with chronic HBV. The
Company's Microbiome program consists of a fully integrated
platform that includes a robust strain identification and selection
process, methods for strain isolation and growth under current Good
Manufacturing Practices and a patent-pending delivery system,
GEMICEL®, which is designed to allow for targeted oral delivery of
live biologic and conventional therapies to the lower
gastrointestinal tract. Using its microbiome platform, the Company
is developing product candidates for various disease
indications.
Forward-Looking StatementsThe information in
this press release contains forward-looking statements regarding
future events, including statements relating to Assembly’s
expectations regarding the completion of the offering.
Assembly intends such forward-looking statements to be covered by
the safe harbor provisions contained in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to market and other conditions, the satisfaction of
customary closing conditions related to the offering and the impact
of general economic, industry or political conditions in the United
States or internationally. There can be no assurance that Assembly
will be able to complete the offering on the anticipated terms, or
at all. More information about the risks and uncertainties faced by
Assembly are more fully detailed under the heading "Risk Factors"
in Assembly's Annual Report on Form 10-K for the year ended
December 31, 2016, and Quarterly Report on Form 10-Q for the
quarter ended September 30, 2017, filed with the Securities and
Exchange Commission. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this
press release. Except as required by law, Assembly assumes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts
Investors: Lauren Glaser (415) 521-3828
lglaser@assemblybio.com
Media: Barbara Lindheim
(212) 584-2276 barbara@assemblybio.com
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