Assembly Bio scraps development of hep B drug; stock set for record low
02/09/2021 12:03
** Drug developer's shares ASMB.O down as much as ~21% to
$3.08 before the bell - set to open at record low
** 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
** ASMB says observed elevated levels of a liver enzyme
called alanine transaminase, or ALT, induced by co's drug during
mid-stage study, which can cause liver damage
** Says will continue to advance a research pipeline of
programs focusing on HBV antiviral mechanisms; sees its cash
runway extending into the second half of 2023
** Up to Wednesday's close, stock has fallen ~36% YTD
(Reporting by Bhanvi Satija)
((Bhanvi.Satija@thomsonreuters.com;))