Assembly Bio's other Hep B programs unaffected despite drug failure - analysts
02/09/2021 16:40
(Updates)
** Shares of drug developer ASMB.O fall 21% to record low
of $3.09 - among top pct losers across U.S. indexes
** Late Wednesday, ASMB said will stop developing ABI-H2158,
its experimental drug for treatment of chronic hepatitis B
infection, due to liver toxicity issues urn:newsml:reuters.com:*:nGNX4VBRxt
** Co will continue research on HBV antiviral programs of
ABI-H3733, ABI-4334; now sees cash runway extending into H2 2023
** SVB Leerink analysts expect ASMB shares to trade sideways
through year-end, believes discontinuation of '2158 means
investors will have to wait until 2023 for results from co's
other HBV antiviral programs
** Baird says ABI-H2158 discontinuation does not affect
safety profiles of co's other Hep B drugs Vebicorvir, or
ABI-H3733, ABI-4334
** Expect results from mid-stage proof-of-concept,
combination study of co's lead drug vebicorvir will serve as key
catalysts for ASMB shares in 2022 - Baird
** Including session's loss, ASMB down ~47% YTD vs ~12% rise
in Nasdaq Biotechnology index .NBI
(Reporting by Bhanvi Satija)
((Bhanvi.Satija@thomsonreuters.com;))