Assembly Biosciences Raises $175M in Equity Financing

Assembly Biosciences has priced an underwritten, registered offering of 5,591,840 shares of common stock and pre-funded warrants to purchase up to 1,040,820 shares of common stock, at a combined price of $19.60 per share. The accompanying Class A and Class B warrants have an exercise price of $21.60 per share and expire within five years or 30 days after the completion of enrollment for the Phase 2 clinical study evaluating ABI-5366 vs. valacyclovir. The total offering size is $175M.

Assembly Biosciences, Inc. (NASDAQ: ASMB) has priced an underwritten, registered offering of 5,591,840 shares of common stock and pre-funded warrants to purchase up to 1,040,820 shares of common stock at a combined price of $19.60 per share. The accompanying Class A and Class B warrants have an exercise price of $21.60 per share and expire within five years or 30 days after the completion of enrollment for the Phase 2 clinical study evaluating ABI-5366 vs. valacyclovir. The total offering size is $175 million [1].

The offering, which is expected to close on August 11, 2025, involves participation from various investors and is managed by Guggenheim Securities and Mizuho. The proceeds will be used for general corporate purposes, including advancing clinical trials and expanding research efforts. The company has also announced a private placement with Gilead Sciences, Inc., for 2,295,920 shares under similar terms [2].

This capital raise demonstrates strong investor confidence in Assembly Biosciences’ potential, with notable participation from established investors such as Commodore Capital, Blackstone Multi-Asset Investing, and Farallon Capital Management, L.L.C. The private placement with Gilead Sciences strengthens the collaboration between the two companies, providing significant credibility and resources to Assembly Biosciences. This partnership is particularly important for the development of ABI-5366, a promising candidate currently being evaluated in clinical trials for the treatment of hepatitis B virus (HBV).

Assembly Biosciences’ pipeline, particularly its HBV-focused candidates, presents significant upside potential for investors. The company’s lead asset, ABI-5366, is an oral therapy designed to inhibit the replication of HBV, with the goal of providing a functional cure. The strong focus on developing therapies that can both inhibit the virus and potentially lead to a functional cure positions Assembly Biosciences as a leader in the chronic viral disease treatment landscape.

With a strong financial position and promising therapeutic pipeline, Assembly Biosciences is well-positioned to capitalize on the substantial growth opportunity presented by the global HBV market. The company’s innovative approach to antiviral drug development and strategic partnerships with industry leaders like Gilead Sciences position it for substantial growth in the coming years.

References:
[1] https://biotechhealthx.com/biotech-news/assembly-bio-asmb-the-future-of-chronic-viral-disease-treatment-is-here/
[2] https://www.quiverquant.com/news/Assembly+Biosciences+Announces+Pricing+of+Underwritten+Registered+Offering+and+Private+Placement