Disappointing Data Forces Assembly Bio Stop Combo Trial For HBV Infection - Assembly Biosciences (NASDAQ:ASMB)

Assembly Biosciences Inc ASMB will stop working on its first-generation core inhibitor, vebicorvir (VBR), as it prioritizes its next-gen core inhibitors ABI-H3733 and ABI-4334 and advances its research pipeline.
The decision follows the review of interim efficacy from the two triple combination studies that did not show a benefit in multiple key viral parameters compared to the combinations without VBR.
Phase 1b trial of ABI-H3733 in chronic HBV infection is underway. Initial data are anticipated during 2H 2022.
Assembly Bio will initiate a Phase 1a trial of ABI-4334 as single or multiple ascending dose administrations in healthy participants in 2H of 2022.
The company will also prioritize its small molecule research programs and two additional viral targets to be introduced during Q3 2022.
The company workforce will be reduced by approximately 30%.
Luisa Stamm, the chief medical officer, will leave the company at the end of July, and Michael Samar, currently the CFO, will leave effective August 12.
Assembly Bio has appointed Jason Okazaki as President & COO to oversee all general and administrative functions, including finance.
The reprioritization and restructuring activities are expected to extend Assembly Bio's estimated cash runway into 1H of 2024.
Price Action: ASMB shares are up 5.53% at $2.29 during the premarket session on the last check Thursday.