Assembly Biosciences (ASMB) Registration Filing summary

Company overview and business model

• Focuses on developing innovative therapeutics for serious viral diseases, with a pipeline including clinical-stage therapies for genital herpes, hepatitis delta virus, hepatitis B, and transplant-related herpesviruses.

• Pipeline includes helicase-primase inhibitors, an HDV entry inhibitor, a next-generation capsid assembly modulator, and a non-nucleoside polymerase inhibitor.

• Engaged in a significant collaboration with Gilead Sciences, which includes licensing, opt-in rights, and milestone payments.

Financial performance and metrics

• Received $85 million upfront from Gilead for collaboration, with an additional $10 million payment in December 2024; eligible for further milestone and royalty payments.

• Gilead made an upfront equity investment of $15 million and subsequent purchases at a premium, resulting in beneficial ownership of approximately 28.1% as of June 30, 2025.

Use of proceeds and capital allocation

• Will not receive proceeds from the sale of shares by the selling stockholder; all registration expenses are borne by the company, while selling expenses are paid by the selling stockholder.