Assembly Biosciences Q2 net loss narrows as revenue rises
Assembly Biosciences Q2 net loss narrows as revenue rises
Overview
US biotech firm's Q2 revenue from Gilead collaboration rose yr/yr, net loss narrowed
Lower net loss driven by higher revenue, reduced R&D expenses and increased interest income
Company completed $115 mln financing, cash runway projected into 2029
Outlook
Company expects to initiate Phase 2 trial for GS-1179 in genital herpes by year-end 2026
Assembly Bio plans to start Phase 2 study of ABI-6250 in chronic HDV by year-end 2026
Company anticipates Phase 2 study of ABI-6250 in cholestatic liver diseases in Q1 2027
Result Drivers
GILEAD COLLABORATION REVENUE - Higher Q2 revenue reflected timing and progress of activities under Gilead collaboration, including a $5.1 mln cumulative catch-up adjustment
R&D EXPENSES - Lower R&D expenses driven by completion of clinical trials, partially offset by increased research and higher employee-related costs
FINANCING - $115 mln gross financing completed to support advancement of pipeline programs
Company press release: ID:nGNX6XHXfT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.20 |
|
Q2 Net Loss |
| $3.86 mln |
|
Q2 Income From Operations |
| -$6.34 mln |
|
Q2 Operating Expenses |
| $19.72 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Assembly Biosciences Inc is $47.50, about 75.5% above its August 12 closing price of $27.06
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)