Assembly Bio halts vebicorvir, cuts workforce 30%, CFO exits, extends cash to H1 2024

ASSEMBLY BIOSCIENCES, INC.

Discontinues vebicorvir (VBR) based on interim combo study data showing no benefit in viral parameters.
Advancing next-gen core inhibitors ABI-H3733 (Phase 1b data H2 2022) and ABI-4334 (Phase 1a starts H2 2022).
Workforce reduced ~30% (~70 FTEs); CFO Michael Samar departs Aug 12; COO Jason Okazaki becomes President & COO.
Restructuring costs ~$1.6M; cash runway extended into first half of 2024.
Prioritizes research: HBV/HDV entry inhibitor, IFNAR agonist, two new viral targets (Q3 2022).

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael P. Samar

Chief Financial Officer

ASMB · ASSEMBLY BIOSCIENCES, INC.

Effective: 2022-08-12
Filed: July 20, 2022, 7:59 PM ET

Michael P. Samar will depart his roles as the Company's Chief Financial Officer, principal financial officer and principal accounting officer effective August 12, 2022.

Role change

Jason A. Okazaki

President and Chief Operating Officer

ASMB · ASSEMBLY BIOSCIENCES, INC.

Effective: 2022-08-01
Filed: July 20, 2022, 7:59 PM ET

on July 19, 2022, the Board promoted Mr. Okazaki to President and Chief Operating Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael P. Samar departed as Chief Financial Officer at ASSEMBLY BIOSCIENCES, INC..

Action: departed
Role: Chief Financial Officer

Exact text from the filing

Michael P. Samar will depart his roles as the Company's Chief Financial Officer, principal financial officer and principal accounting officer effective August 12, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jason A. Okazaki changed role as President and Chief Operating Officer at ASSEMBLY BIOSCIENCES, INC..

Action: promoted
Role: President and Chief Operating Officer

Exact text from the filing

on July 19, 2022, the Board promoted Mr. Okazaki to President and Chief Operating Officer.

View on SEC.gov

ASSEMBLY BIOSCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0001564590-22-026043

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