Assembly Biosciences to Wind-Down Microbiome Program
December 08 2020 - 4:02PM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV), today announced that it will wind-down its
microbiome program, enabling the company to prioritize resources
and focus on the advancement of its pipeline of novel core
inhibitors for chronic HBV.
“Upon thoughtful consideration of our corporate strategy and
strengths, we have made the difficult decision to wind-down our
microbiome program in order to fully dedicate our resources and
focus toward delivering a new class of novel HBV therapies to
patients,” said John McHutchison, AO, MD, Chief Executive Officer
and President. “We deeply appreciate the invaluable contributions
of the microbiome team, who played an important role in
establishing our robust research and manufacturing capabilities at
Assembly Bio and were critical to the advancement of the broader
scientific community’s understanding of diseases associated with
the microbiome.”
While Assembly Bio will continue its ongoing review of potential
strategic options for the microbiome program in the interim, absent
an alternative, it expects to wind-down the microbiome program on
or around January 31, 2021. This decision is not based on any
efficacy, safety, or other data related to Assembly Bio’s
microbiome programs.
Assembly Bio expects to be well resourced with the personnel and
capital to advance its portfolio of HBV candidates, including
multiple clinical development programs focused on novel core
inhibitor therapies and preclinical programs exploring additional
complimentary HBV targets. As of September 30, 2020, the company
had cash, cash equivalents, and marketable securities totaling
approximately $238M. This cash position is projected to fund
planned operations into the second half of 2022.
About Assembly BiosciencesAssembly Biosciences,
Inc., is a clinical-stage biotechnology company committed to
advancing novel therapeutics to improve treatment options for
hepatitis B virus (HBV) worldwide. A pioneer in the development of
a new class of potent, oral core inhibitor drug candidates,
Assembly Bio’s approach aims to break the complex virus replication
cycle of HBV. The company’s scientifically novel HBV program
represents a significant advancement in HBV research and, for the
first time in 25 years, the potential for new treatment options
that could play a critical role in establishing a curative
treatment approach. For more information,
visit assemblybio.com.
Forward-Looking Statements The information in
this press release contains forward-looking statements that are
subject to certain risks and uncertainties that could cause actual
results to materially differ. These risks and uncertainties
include: Assembly Bio’s ability to initiate and complete clinical
trials involving its HBV therapeutic product candidates in the
currently anticipated timeframes; safety and efficacy data from
clinical studies may not warrant further development of Assembly
Bio’s product candidates; clinical and nonclinical data presented
at conferences may not differentiate Assembly Bio’s product
candidates from other companies’ candidates; Assembly Bio’s ability
to maintain financial resources necessary to continue its clinical
trials and fund business operations; any impact that the spread of
the coronavirus and resulting COVID-19 pandemic may have on
Assembly Bio’s business and operations, including initiation and
continuation of its clinical trials or timing of discussions with
regulatory authorities; and other risks identified from time to
time in Assembly Bio’s reports filed with the U.S. Securities and
Exchange Commission (the SEC). You are urged to consider statements
that include the words may, will, would, could, should, might,
believes, hopes, estimates, projects, potential, expects, plans,
anticipates, intends, continues, forecast, designed, goal or the
negative of those words or other comparable words to be uncertain
and forward-looking. Assembly Bio 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. More
information about Assembly Bio’s risks and uncertainties are more
fully detailed under the heading “Risk Factors” in Assembly Bio’s
filings with the SEC, including its most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. Except as required by law, Assembly Bio assumes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Investor ContactAssembly
Biosciences, Inc.Lauren GlaserSenior Vice President, Investor
Relations and Corporate Affairs(415)
521-3828lglaser@assemblybio.com
Media ContactSam Brown Inc.Audra Friis(917)
519-9577ASMBMedia@sambrown.com
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