RSS Assembly Bio Receives Total $30.1 Mln As Equity Investment, Funding From Gilead, Stock Up

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 RSS Assembly Bio Receives Total $30.1 Mln As Equity Investment, Funding From Gilead, Stock Up

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Assembly Biosciences, Inc. (ASMB) announced on Thursday that it has secured a total of $30.1 million from Gilead Sciences, Inc. Out of this amount, $20.1 million represents an equity investment, allowing Gilead to purchase additional shares of Assembly Bio common stock, which raises Gilead's stake in the company to 29.9 percent. The balance of the funds will provide accelerated backing, intended to propel the clinical pipeline of antiviral therapeutic candidates targeting herpesviruses, hepatitis D virus, and hepatitis B virus. With this new investment and funding, Assembly Bio anticipates that its cash reserves will last through mid-2026. Presently, Assembly Bio's shares are trading at $15.28 on the Nasdaq, reflecting a 13.11 percent increase.

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