Assembly Bio Receives Total $30.1 Mln As Equity Investment, Funding From Gilead, Stock Up

(RTTNews) - Assembly Biosciences, Inc. (ASMB), Thursday announced that the company has received a total of $30.1 million from Gilead Sciences, Inc.

Of the total amount, $20.1 million is an equity investment to purchase additional Assembly Bio common stock, increasing Gilead's ownership in the company to 29.9 percent.

Whereas, the remaining amount is in accelerated funding, which will be used to advance clinical pipeline of antiviral therapeutic candidates for herpesviruses, hepatitis D virus, and hepatitis B virus.

The biotechnology company expects its cash runway to extend to mid-2026 with the help of this latest investment and funding.

Currently, Assembly Bio's stock is trading at $15.28, up 13.11 percent on the Nasdaq.