ASSEMBLY BIOSCIENCES, INC.

Listed Company

ASMBCIK 0001426800NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$72.30M

Net Income

$-6.12M

Total Assets

$257.59M

Equity

$206.75M

Shares Out

15.86M

Op. Cash Flow

$-41.09M

Business

ASSEMBLY BIOSCIENCES, INC. is a biotechnology company developing novel antiviral therapeutics targeting serious viral diseases. It develops clinical-stage product candidates including helicase-primase inhibitors for recurrent genital herpes, an oral hepatitis delta virus entry inhibitor, a next-generation capsid assembly modulator for hepatitis B, and a broad-spectrum non-nucleoside polymerase inhibitor for transplant-associated herpesviruses. The company organizes activities across discovery, preclinical and clinical development programs and collaborates with partners such as Gilead for development and commercialization. It conducts clinical studies globally and relies on CROs and third-party manufacturers for development, supply and distribution.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue from a related party	72	29	—	—	—
Research and development	65	56	49	70	69
General and administrative	20	18	23	24	29
Total operating expenses	84	74	72	94	139
Loss from operations	−12	−45	−65	−94	−133
Interest and other income, net	6	6	3	1	302,000
Total other income	6	6	3	1	302,000
Loss before income taxes	−6	−40	−61	−93	−132
Income tax expense	0	330,000	33,000	0	3
Net loss	−6	−40	−61	−93	−130
Unrealized gain (loss) on marketable securities	170,000	−130,000	722,000	−384,000	−149,000
Comprehensive loss	−6	−40	−61	−93	−130
Net loss per share - basic	−0.55	−6.69	−13.38	−23.08	−3
Net loss per share - diluted	−0.55	−6.69	−13.38	−23.08	−3
Weighted average common shares outstanding, basic	11	6	5	4	43
Weighted average common shares outstanding, diluted	11	6	5	4	43

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	58	38	20	52	46
Marketable securities	190	74	110	39	101
Accounts receivable from collaboration with a related party	974,000	0	43,000	944,000	336,000
Prepaid expenses and other current assets	5	3	3	4	7
Total current assets	255	116	134	97	154
Property and equipment, net	221,000	284,000	385,000	743,000	1
Operating lease right-of-use (ROU) assets	3	3	2	3	6
Other assets	312,000	312,000	312,000	889,000	2
Total assets	258	119	137	102	191
Accounts payable	1	585,000	461,000	2	3
Accrued research and development expenses	2	2	885,000	3	3
Other accrued expenses	8	7	6	7	7
Deferred revenue from a related party - short-term	37	38	31	—	—
Operating lease liabilities - short-term	569,000	461,000	1	3	3
Total current liabilities	49	48	39	16	16
Deferred revenue from a related party - long-term	0	35	55	3	3
Operating lease liabilities - long-term	2	3	1	101,000	3
Total liabilities	51	86	96	19	22
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	—	—	—	—	—
Common stock, $0.001 par value; 150,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 15,855,329 and 7,457,240 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	16,000	7,000	5,000	4,000	48,000
Additional paid-in capital	1,039	859	827	808	801
Accumulated other comprehensive loss	−41,000	−211,000	−81,000	−803,000	−419,000
Accumulated deficit	−832	−826	−786	−725	−631
Total stockholders' equity	207	33	41	83	169
Total liabilities and stockholders' equity	258	119	137	102	191

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−6	−40	−61	−93	−130
Depreciation and amortization	129,000	129,000	450,000	498,000	466,000
Stock-based compensation	5	3	5	7	5
Net accretion of investments in marketable debt securities	−2	−4	−2	155,000	—
Non-cash rent expense	851,000	1	4	4	4
Realized gain on investments in marketable debt securities	−3,000	0	—	—	—
Accounts receivable from collaboration	−974,000	43,000	901,000	−608,000	894,000
Prepaid expenses and other current assets	−2	73,000	916,000	1	1
Accounts payable	586,000	124,000	−2	−166,000	−2
Accrued research and development expenses	114,000	1	−2	−278,000	−1
Other accrued expenses	887,000	1	−2	458,000	−5
Deferred revenue from a related party	−36	−13	84	0	−6
Operating lease liabilities	−751,000	−1	−4	−4	−4
Net cash used in operating activities	−41	−51	23	−84	−93
Proceeds from maturities of marketable securities	116	131	65	88	175
Purchases of marketable securities	−230	−91	−134	−28	−160
Purchases of property and equipment	−66,000	−28,000	−255,000	−102,000	−3
Net cash (used in) provided by investing activities	−113	40	−69	91	27
Proceeds from the issuance of common stock, pre-funded warrants and warrants in an underwritten offering, net of issuance costs	124	0	—	—	—
Proceeds from the issuance of common stock and warrants in private placements to a related party, net of issuance costs	43	18	9	—	—
Proceeds from the exercise of warrants	6	0	—	—	—
Proceeds from the issuance of common stock under ATM equity offering program, net of issuance costs	2	2	5	325,000	53
Proceeds from the issuance of common stock under ESPP	725,000	150,000	129,000	289,000	258,000
Proceeds from the exercise of stock options	125,000	5,000	0	—	0
Proceeds from the issuance of common stock and warrants in a registered direct offering, net of issuance costs	0	10	0	—	—
Net cash provided by financing activities	175	29	14	614,000	53
Net increase in cash and cash equivalents	20	19	−33	7	−14
Operating lease liabilities arising from obtaining ROU assets	0	2	2	171,000	126,000

Filings

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