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assemblybio Assembly Biosciences Reports First Quarter 2021 Financial Results and Recent Updates May 6 , 2021 SOUTH SAN FRANCISCO , Calif . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Assembly Biosciences , Inc. ( Nasdaq : ASMB ) , a clinical - stage biotechnology company developing innovative therapeutics targeting hepatitis B virus ( HBV ) , today reported financial results and recent updates for the first quarter ended March 31 , 2021 . " In the first quarter of 2021 , we solidified all our efforts and focus on hepatitis B and the sole pursuit of finite and curative therapies to replace burdensome life - long treatment regimens for the more than 250 million people living with this disease , " said John McHutchison , AO , MD , Chief Executive Officer and President of Assembly Bio . " Our strategy is clear and we have made significant progress , continuing to advance all our clinical programs while expanding and accelerating our novel discovery efforts . We are particularly excited that our first Phase 2 proof - of - concept triple combination studies - key drivers of our clinical strategy - are now underway . " Recent Updates • Initiated two triple combination studies : o Phase 2 study evaluating Assembly Bio's lead core inhibitor candidate , vebicorvir ( VBR ) , with standard - of - care nucleos ( t ) ide reverse transcriptase inhibitor ( Nrtl ) therapy and Arbutus Biopharma's RNAi therapeutic candidate , AB - 729 • Phase 2 study evaluating VBR with Nrtl therapy and interferon ( peg - IFNa ) Anticipated Milestones and Events • Nominate a fourth core inhibitor candidate with a best - in - class profile in Q2 2021 • Interim data from Phase 2 study with ABI - H2158 in H2 2021 Upcoming Conferences • Chief Scientific Officer , William Delaney , PhD , to present at the Chronic Hepatitis B Drug Development Virtual Summit , May 6 , 2021 , during a session on " Targeting HBV Core Protein to Improve Treatment for cHBV patients . " • Jefferies Global Healthcare Conference : June 1-3 , 2021 • The International Liver Congress TM ( ILC , ) the Annual Meeting of the European Association for the Study of the Liver ( EASL ) taking place virtually June 23-26 , 2021 Assembly Bio has three abstracts accepted for presentation : • Enhanced potency and target coverage for both antiviral inhibition and cccDNA establishment of next generation core inhibitors ABI - H2158 and ABI - H3733 • Viral response and safety following treatment discontinuation in Study 211 , the open - label extension study of VBR in combination with Nrtl therapy • No emergent core inhibitor resistance in patients with chronic HBV infection treated with VBR in combination with Nrtl First Quarter 2021 Financial Results • Cash , cash equivalents and marketable securities were $ 214.9 million as of March 31 , 2021 , compared to $ 216.4 million as of December 31 , 2020. This result includes $ 34.1 million of net proceeds from the issuance of common shares under Assembly Bio's at - the - market ( ATM ) program . The company's cash position is projected to fund operations into 2023 . • Revenues from collaborative research were $ 0 for the three months ended March 31 , 2021 , compared to $ 4.1 million for the same period in 2020. The decrease is due to the termination of the microbiome collaboration agreement with Allergan Pharmaceuticals following AbbVie Inc's acquisition of Allergan . In Q1 2021 Assembly Bio completed the previously announced winddown of its microbiome program . • Research and development expenses were $ 18.6 million for the three months ended March 31 , 2021 , compared to $ 23.0 million for the same period in 2020. The decrease is primarily due to a decrease of $ 8.2 million related to the wind - down of Assembly Bio's microbiome program . This decrease was partially offset by an increase of $ 3.7 million in research and development expenses related to the company's HBV program . Research and development expenses include non - cash stock - based compensation expenses of $ ( 2.1 ) million for the three months ended March 31 , 2021 and $ 1.9 million for the same period in 2020. The decrease is primarily due to the reversal of $ 2.4 million of previously