Assembly Biosciences raises $109.6M in underwritten, registered offering.

Assembly Biosciences has announced the pricing of an underwritten, registered offering of 5,591,840 shares of common stock, pre-funded warrants, and accompanying Class A and Class B warrants to purchase up to 6,632,660 shares of common stock. The offering has a combined price per share of common stock and accompanying Class A and Class B warrants of $19.60, with a combined price per pre-funded warrant and accompanying Class A and Class B warrants of $19.599. Each pre-funded warrant has a nominal exercise price of $0.001 per share of common stock and is immediately exercisable.

Assembly Biosciences (Nasdaq: ASMB), a biotechnology company focused on developing innovative therapeutics for serious viral diseases, has successfully priced an underwritten, registered offering of 5,591,840 shares of common stock, pre-funded warrants, and accompanying Class A and Class B warrants. The total offering amounts to $175 million, with the combined price per share of common stock and accompanying Class A and Class B warrants set at $19.60, and a combined price per pre-funded warrant and accompanying Class A and Class B warrants at $19.599. The offering is expected to close on August 11, 2025 [1].

The equity financing package includes a public offering and a private placement. In the public offering, Assembly Biosciences is selling 5,591,840 shares of common stock and 1,040,820 pre-funded warrants, along with accompanying Class A and Class B warrants. The private placement, led by Gilead Sciences, involves the purchase of 2,295,920 shares of common stock and accompanying warrants. Notable investors participating in the public offering include Commodore Capital, Blackstone Multi-Asset Investing, Farallon Capital Management, Janus Henderson Investors, and RA Capital Management [1].

The offering structure reveals strategic elements. The Class A warrants' expiration is tied to enrollment completion in Assembly's Phase 2 trial for ABI-5366 versus valacyclovir, indicating this program is a key value driver. The Class B warrants include an automatic termination provision if Assembly secures $75 million in non-dilutive funding through a collaboration agreement, suggesting the company is actively pursuing partnership deals to supplement this equity raise [1].

The financing will significantly extend Assembly Biosciences' operational runway, providing capital for its clinical programs, particularly the ABI-5366 program, which targets viral infections. The company plans to use the net proceeds for general corporate purposes [1].

The participation of Gilead Sciences, a major player in antiviral therapeutics, suggests potential strategic interest beyond just financial investment. Gilead's involvement aligns with Assembly Biosciences' focus on serious viral diseases [1].

References:
[1] https://www.stocktitan.net/news/ASMB/assembly-biosciences-announces-pricing-of-175-million-in-equity-lawa7d8ykro6.html