Assembly Biosciences Q2 net loss $24.5M; discontinues vebicorvir, restructures

ASSEMBLY BIOSCIENCES, INC.

2022-Q2 EPS reported -$0.99

Cash and securities of $128.6M as of June 30, 2022, projected to fund operations into first half of 2024.
Net loss $24.5M ($0.51/share) vs $23.6M ($0.55) in Q2 2021; R&D expense $17.8M, G&A $6.8M.
Discontinued first-gen core inhibitor vebicorvir (VBR) and restructured to prioritize next-gen candidates 3733 and 4334.
Initiated Phase 1b trial of next-gen core inhibitor ABI-H3733; initial data expected 2H 2022.
Introduced new small molecule IFNAR agonist research program for HBV/HDV with oral dosing potential.

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