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ASMB

Assembly Biosciences, Inc.

ASMB

Assembly Biosciences, Inc. • NASDAQ
$37.79 ▲ 1.61% (+0.60)
Market Cap $325.41 M
52w High $39.71
52w Low $7.75
Dividend Yield 0%
P/E -8.22
Volume 23.00K
Outstanding Shares 8.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $10.789M ▲ $21.672M ▲ $-9.196M ▲ -85.235% ▲ $-1.2 ▲ $-9.164M ▲
Q2-2025 $9.626M ▲ $4.594M ▼ $-10.198M ▼ -105.942% ▼ $-1.33 ▼ $-11.061M ▼
Q1-2025 $9.419M ▲ $19.36M ▲ $-8.818M ▲ -93.619% ▲ $-1.17 ▲ $-9.908M ▲
Q4-2024 $7.357M ▲ $4.609M ▼ $-10.335M ▼ -140.478% ▼ $-1.72 ▼ $-11.5M ▼
Q3-2024 $6.845M $17.801M $-9.613M -140.438% $-1.51 $-10.923M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $232.557M ▲ $239.997M ▲ $57.302M ▼ $182.695M ▲
Q2-2025 $74.98M ▼ $80.78M ▼ $62.68M ▼ $18.1M ▼
Q1-2025 $91.028M ▼ $99.017M ▼ $71.884M ▼ $27.133M ▼
Q4-2024 $112.079M ▲ $119.168M ▲ $85.809M ▲ $33.359M ▲
Q3-2024 $94.954M $100.262M $74.259M $26.003M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-9.196M ▲ $-15.133M ▲ $-158.271M ▼ $171.932M ▲ $-1.472M ▼ $-15.175M ▲
Q2-2025 $-10.198M ▼ $-16.758M ▲ $16.994M ▲ $357K ▼ $593K ▲ $-16.758M ▲
Q1-2025 $-8.818M ▲ $-23.439M ▼ $6.586M ▲ $1.922M ▼ $-14.931M ▼ $-23.439M ▼
Q4-2024 $-10.335M ▼ $-407K ▲ $-6.696M ▼ $16.995M ▲ $9.892M ▲ $-407K ▲
Q3-2024 $-9.613M $-15.244M $24.488M $0 $9.244M $-15.244M

Five-Year Company Overview

Income Statement

Income Statement Assembly is still essentially a research-stage company with almost no recurring revenue and no commercial products. The income statement is dominated by research and operating costs, leading to consistent losses every year. Those losses have narrowed somewhat over the past few years, but the business remains firmly unprofitable and dependent on external funding rather than internally generated income. The reverse stock splits in prior years also hint at a long history of value dilution and the need to maintain listing standards.

Balance Sheet

Balance Sheet The balance sheet shows a lean operation: total assets and cash have trended down over time, and shareholder equity has shrunk as accumulated losses build up. On the positive side, the company carries essentially no financial debt, so its risk is more about running out of cash than about heavy leverage. Overall, the balance sheet looks typical for a small clinical‑stage biotech: limited resources, modest cash reserves, and high reliance on future funding or partnership milestones to sustain operations.

Cash Flow

Cash Flow Cash flow is driven almost entirely by spending on research and operations, with very little capital spending on equipment or facilities. Operating and free cash flow have generally been negative, meaning the company consumes cash rather than generates it. There was a brief period of positive cash flow recently, likely tied to partnership funding or one‑time items, but the structural pattern is still cash burn. This underlines the need for ongoing financing, careful cost control, and successful advancement of the pipeline to secure future cash sources.

Competitive Edge

Competitive Edge Assembly operates in a highly competitive antiviral space but focuses on niches with substantial unmet needs, such as chronic hepatitis B and recurrent genital herpes. Its edge comes from a differentiated pipeline targeting multiple steps in the viral life cycle and from its long-term strategic partnership with a major antiviral player, Gilead Sciences. That partnership provides external validation and access to expertise and potential funding. However, the company is small, lacks marketed products, and faces competition from larger, better-resourced firms working on similar diseases, so its position depends heavily on the success of its clinical data and the strength of its Gilead collaboration.

Innovation and R&D

Innovation and R&D The company’s core strength is innovation. It is advancing several novel, orally administered antivirals that aim not just to manage infections but potentially to achieve more durable or functional cures. Programs span helicase‑primase inhibitors for herpes, capsid modulators for hepatitis B, and entry inhibitors for hepatitis D, plus earlier‑stage broad‑spectrum antivirals. This multi‑mechanism approach and focus on long‑acting, convenient dosing give the pipeline a clear scientific identity. The flip side is classic biotech risk: heavy R&D spending without guaranteed success, dependence on positive trial results, and potential delays or setbacks that could require more time and capital than expected.

Summary

Assembly Biosciences is a classic early‑stage biotech: scientifically ambitious, with a focused antiviral pipeline and a valuable partnership, but financially fragile with minimal revenue and ongoing losses. The company’s future hinges on clinical trial outcomes and continued support from partners and capital markets. If the science delivers, the current investments in R&D and the Gilead collaboration could translate into meaningful value. If not, the limited cash base, history of equity dilution, and persistent cash burn highlight significant execution and funding risk. For now, it is best viewed as a high‑risk, high‑uncertainty, innovation‑driven story rather than a mature operating business.

NEWS

November 10, 2025 · 4:05 PM UTC

Assembly Biosciences Reports Third Quarter 2025 Financial Results and Recent Updates

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November 7, 2025 · 8:00 AM UTC

Assembly Biosciences Presents Positive Phase 1b Data for Next-Generation Capsid Assembly Modulator ABI-4334 at AASLD The Liver Meeting®

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October 14, 2025 · 7:00 AM UTC

Assembly Biosciences Announces Upcoming Investor Conference Participation

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October 10, 2025 · 8:00 AM UTC

Assembly Biosciences Presents Interim Phase 1b Data for HSV Helicase-Primase Inhibitor Candidate ABI-5366 at the 38th Congress of the International Union Against Sexually Transmitted Infections (IUSTI)- Europe

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