Business
Assembly Biosciences Reports Updates on Corporate Progress and First Quarter 2020 Financial Results
-- Advancing the development of three clinical-stage core inhibitor candidates in HBV portfolio ---- Cash position of $249 million projected to fund
About this update from Assembly Biosciences, Inc.
[{"type":"text","content":"-- Advancing the development of three clinical-stage core inhibitor candidates in HBV portfolio ---- Cash position of $249 million projected to fund operations into 2022 ---- Company to host HBV portfolio progress update call / webcast today at 1:30 pm PT / 4:30 pm ET --\n SOUTH SAN FRANCISCO, Calif., May 07, 2020 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus (HBV) and diseases associated with the microbiome, today reported financial results for the first quarter ended March 31, 2020 and provided an update on recent corporate progress. “I am proud of the exceptional commitment and focus that our team has demonstrated during the first quarter, in light of the unprecedented events unfolding throughout the world and the healthcare sector with the COVID-19 pandemic. We have managed to achieve our key business objectives while keeping the health and safety of patients, study staff, and employees top of mind, and continuing to assess and adapt to this environment,” said John McHutchison, AO, MD, Chief Executive Officer and President. “Importantly, we have finalized the stopping criteria by which patients with chronic HBV infection in Study 211 will be transitioned off combination therapy with our core inhibitor candidate ABI-H0731 and a nucleos(t)ide therapy later this year. This is a critical next step in the development of hepatitis B therapies, as ours would be the first trial of a core inhibitor to stop therapy and monitor patients for potential sustained virologic response.” First Quarter 2020 and Recent Highlights HBV Portfolio ABI-H0731: Assembly’s lead core inhibitor candidate The Phase 2 open-label extension study (Study 211) is ongoing with subjects reaching 12-18 months of combination treatment with ABI-H0731 and standard-of-care nucleos(t)ide analogue reverse transcriptase inhibitor (NrtI) therapy.Assembly has determined the stopping criteria by which it will begin transitioning patients off therapy, and these criteria have been discussed with its lead investigators and reviewed and agreed upon by the U.S. Food and Drug Administration (FDA).Assembly has submitted an End of Phase 2 meeting request and briefing document for review with China regulatory authorities to plan for the initiation of studies aimed ...