Assembly Biosciences, Inc. reported its financial results for the first quarter of 2026, revealing a collaboration revenue of $8.2 million, a decrease of 13% from $9.4 million in the same period of 2025. The decline in revenue is attributed to the timing of activities performed under the collaboration agreement with Gilead Sciences, Inc. The company continues to operate at a loss, with a net loss of $9.1 million for the quarter, compared to a net loss of $8.8 million in the prior year. The loss per share improved to $(0.54) from $(1.17), reflecting an increase in the weighted average shares outstanding due to stock options and restricted stock units.
Total operating expenses for the quarter were $19.6 million, slightly up from $19.4 million in the previous year. Research and development expenses remained stable at $14.9 million, while general and administrative expenses increased to $4.7 million, primarily due to higher stock-based compensation. The company reported a significant increase in interest and other income, which rose to $2.3 million from $1.1 million, driven by a larger investment portfolio following a financing transaction in August 2025.
In terms of operational developments, Assembly Biosciences is advancing its clinical pipeline, which includes several investigational therapies targeting serious viral diseases. The company has transitioned its discovery and development focus to its novel oral broad-spectrum non-nucleoside polymerase inhibitor (NNPI), ABI-7272, which is currently undergoing regulatory filing-enabling studies. The collaboration with Gilead remains a critical component of the company’s strategy, with Gilead having exercised its option to license the HPI program, which includes two long-acting helicase-primase inhibitors for the treatment of recurrent genital herpes.
As of March 31, 2026, Assembly Biosciences held cash, cash equivalents, and marketable securities totaling $226.6 million, a decrease from $247.4 million at the end of 2025. The company believes it has sufficient funds to meet its operating requirements into 2028, although it acknowledges that future capital requirements will depend on various factors, including the costs associated with ongoing clinical studies and the potential for additional collaborations. The company continues to monitor its cash needs and the capital markets to ensure it can fund its operations effectively.
About ASSEMBLY BIOSCIENCES, INC.
Assembly Biosciences, Inc. is a biotechnology company focused on developing innovative therapeutics for serious viral diseases. Its pipeline includes clinical-stage therapies targeting recurrent genital herpes, hepatitis delta virus (HDV), and hepatitis B virus (HBV). With significant market opportunities, Assembly aims to address unmet medical needs through collaborations, notably with Gilead Sciences. The company is advancing multiple candidates towards clinical readouts, enhancing treatment options for patients worldwide.
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