ASSEMBLY BIOSCIENCES, INC. ASMB
We are a biotechnology company developing innovative therapeutics targeting serious viral diseases with the potential to improve the lives of patients worldwide. Our pipeline includes multiple clinical-stage investigational therapies, including: (1) two long-acting helicase-primase inhibitors (HPIs) for the treatment of recurrent genital herpes; (2) an orally bioavailable hepatitis delta virus (HDV) entry inhibitor; and (3) a highly potent next-generation capsid assembly modulator (CAM) designed to disrupt the replication cycle of hepatitis B virus (HBV) at several key points. Our pipeline also includes a novel, oral broad-spectrum non-nucleoside polymerase inhibitor (NNPI) for the treatment of transplant-related herpesviruses, which is currently undergoing studies to enable a regulatory filing, and we have additional research programs against multiple antiviral targets. In December 2025, pursuant to our collaboration (Gilead Collaboration) with Gilead Sciences, Inc. (Gilead), Gilead exercised its option to license our HPI program for the treatment of recurrent genital herpes, including our long-acting investigational candidates ABI-1179 (1179) and ABI-5366 (5366). For additional information regarding Gilead's exercise of its option, see "Collaboration and License Agreement—Gilead Sciences, Inc.—Option Exercise."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $72.3M | $28.5M | $7.2M | $0 | $6.3M | $79.1M | $16.0M | $14.8M | $9.0M | $0 |
| R&D | $64.8M | $55.9M | $48.9M | $70.0M | $68.5M | $106.8M | $85.8M | $72.7M | $44.2M | $33.1M |
| SG&A | $19.6M | $18.0M | $22.9M | $24.1M | $28.8M | $37.1M | $32.9M | $34.8M | $17.0M | $12.2M |
| Total operating expenses | $84.4M | $73.9M | $71.8M | $94.1M | $138.9M | $143.9M | $118.7M | $107.5M | $61.2M | — |
| Operating income | -$12.1M | -$45.4M | -$64.6M | -$94.1M | -$132.7M | -$64.8M | -$102.7M | -$92.7M | -$52.2M | -$45.3M |
| Pre-tax income | -$6.1M | -$39.8M | -$61.2M | -$93.1M | -$132.4M | -$62.2M | -$98.4M | -$89.7M | -$51.9M | -$44.9M |
| Income tax | $0 | $330.0K | $33.0K | $0 | $2.5M | $0 | $774.0K | $1.1M | $9.1M | $618.0K |
| Net income | -$6.1M | -$40.2M | -$61.2M | -$93.1M | -$129.9M | -$62.2M | -$97.6M | -$90.8M | -$42.8M | -$44.3M |
| EPS, basic | -0.55 | -6.69 | -13.38 | -23.08 | -3.00 | — | — | — | — | — |
| EPS, diluted | -0.55 | -6.69 | -13.38 | -23.08 | -3.00 | -1.75 | -3.72 | -3.98 | -2.41 | -2.57 |
| Shares, diluted (wtd. avg.) | 11.2M | 6.0M | 4.6M | 4.0M | 43.3M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $58.5M | $38.3M | $19.8M | $52.4M | $45.6M | $59.4M | $46.7M | $41.5M | $82.0M | $28.6M |
| Short-term investments | $189.7M | $73.7M | $110.4M | $39.2M | $101.0M | $157.0M | $227.3M | $176.6M | $37.9M | $24.4M |
| Receivables | $974.0K | $0 | $43.0K | $944.0K | $336.0K | $1.2M | $3.4M | $2.4M | $2.3M | $0 |
| Total current assets | $254.5M | $115.5M | $133.8M | $97.0M | $154.2M | $224.5M | $282.8M | $222.5M | $123.1M | $53.6M |
| Property, plant and equipment | $221.0K | $284.0K | $385.0K | $743.0K | $1.1M | $1.6M | $1.8M | $557.0K | $860.0K | $214.7K |
| Goodwill | — | — | — | — | — | $12.6M | $12.6M | $12.6M | $12.6M | $12.6M |
| Other intangibles | — | — | — | — | — | — | — | — | $29.0M | $29.0M |
| Total assets | $257.6M | $119.2M | $136.8M | $101.8M | $191.1M | $283.3M | $339.9M | $268.0M | $169.3M | $98.1M |
| Accounts payable | $1.2M | $585.0K | $461.0K | $2.5M | $2.7M | $4.6M | $1.7M | $3.7M | — | — |
| Total current liabilities | $48.8M | $47.8M | $39.2M | $16.3M | $16.1M | $24.4M | $24.4M | $18.5M | $13.5M | $7.1M |
| Total liabilities | $50.8M | $85.8M | $95.7M | $19.1M | $22.1M | $42.7M | $66.7M | $57.4M | $56.2M | $18.2M |
| Retained earnings | -$832.0M | -$825.9M | -$785.7M | -$724.5M | -$631.4M | -$501.6M | -$439.4M | -$341.8M | -$251.0M | -$208.2M |
| Total equity | $206.8M | $33.4M | $41.1M | $82.7M | $168.9M | $240.6M | $273.2M | $210.7M | $113.1M | $79.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$41.1M | -$51.1M | $22.7M | -$84.5M | -$93.4M | -$63.0M | -$84.1M | -$65.0M | $1.9M | -$34.9M |
| Depreciation and amortisation | $129.0K | $129.0K | $450.0K | $498.0K | $466.0K | $691.0K | $494.0K | $643.0K | $219.0K | $80.0K |
| Stock-based compensation | $4.7M | $3.1M | $5.1M | $6.6M | $5.2M | $21.9M | $20.6M | $28.5M | $8.6M | $5.0M |
| Capital expenditure | $66.0K | $28.0K | $255.0K | $102.0K | $3.1M | $470.0K | $1.6M | $340.0K | $865.0K | $147.0K |
| Investing cash flow | -$113.5M | $40.2M | -$69.1M | $90.6M | $26.5M | $68.1M | -$50.3M | -$135.4M | -$15.6M | $36.2M |
| Financing cash flow | $174.7M | $29.4M | $13.8M | $614.0K | $53.1M | $7.6M | $139.6M | $159.8M | $67.2M | $153.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-170417.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $9.0M | $14.8M | $16.0M | $79.1M | $6.3M | $0 | $7.2M | $28.5M | $72.3M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$44.3M | -$42.8M | -$90.8M | -$97.6M | -$62.2M | -$129.9M | -$93.1M | -$61.2M | -$40.2M | -$6.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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