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assemblybio Assembly Biosciences Reports Second Quarter 2021 Financial Results and Recent Highlights August 5 , 2021 -- SOUTH SAN FRANCISCO , Calif . , Aug. 05 , 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 highlights for the second quarter ended June 30 , 2021 . " With Assembly Bio's singular focus to pursue finite and curative treatment regimens for HBV , we continue to advance our clinical programs with urgency . We anticipate reporting further progress from our pipeline in the second half of this year , including interim data from our Phase 2 trial with ABI - H2158 with a focus on safety and on - treatment changes in key viral biomarkers such as pgRNA , HBeAg and HBcrAg , as well as the nomination of a fourth core inhibitor candidate with potential for a best - in - class profile , " said John McHutchison , AO , MD , chief executive officer and president of Assembly Bio . " Over the past three months , we had the opportunity to share additional data at EASL 2021 characterizing our core inhibitor portfolio and have strengthened our leadership team with the promotions of Jason Okazaki to chief operating officer and Michael Samar to chief financial officer and the addition of two esteemed experts in virology , hepatitis and industry to our Board of Directors . These appointments continue to deepen the strategic guidance and experience available to us as we advance our clinical programs . " Recent Updates • Announced the promotions of Jason Okazaki to chief operating officer and Michael Samar to chief financial officer . • Announced key appointments to the board of directors with the additions of Nobel Prize Laureate Sir Michael Houghton , PhD , recognized for his contributions to the discovery of hepatitis C , and Lisa Johnson - Pratt , MD , who brings decades of experience in drug development and commercialization . • Presented data from Assembly Bio's three clinical - stage core inhibitor programs , vebicorvir ( VBR or ABI - H0731 ) , ABI - H2158 ( 2158 ) , and ABI - H3733 ( 3733 ) , in an oral presentation and two poster presentations at EASL 2021 . Anticipated Milestones and Events • Nominate a fourth core inhibitor candidate designed for a best - in - class profile in mid 2021 . • On track to share interim data from Phase 2 study with 2158 in H2 2021 . Upcoming Conferences • Baird's 2021 Global Healthcare Conference : September 14-15 , 2021 • ICE - HBV : HBV Cure : The Mechanisms Behind Combination Therapies : William Delaney , PhD , Assembly Bio's chief scientific officer will participate in a round - table discussion on September 30 , 2021 Second Quarter 2021 Financial Results • Cash , cash equivalents and marketable securities were $ 199.1 million as of June 30 , 2021 , compared to $ 214.9 million as of March 31 , 2021. This result includes the $ 6.0 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 June 30 , 2021 , compared to $ 39.4 million for the same period in 2020. The decrease is due to the termination of the microbiome collaboration agreement with Allergan following AbbVie Inc's acquisition of Allergan . In Q1 2021 Assembly Bio completed the wind - down of its microbiome program . • Research and development expenses were $ 16.7 million for the three months ended June 30 , 2021 , compared to $ 23.3 million for the same period in 2020. The decrease is primarily due to a decrease of $ 7.6 million in research and development expenses related to the wind - down of the microbiome program . This decrease was partially offset by an increase of $ 1.0 million in research and development expenses related to the HBV program . Research and development expenses include non - cash stock - based compensation expenses of $ 0.7 million for the three months ended June 30 , 2021 and $ 3.6 million for the same period in 2020. The decrease is primarily due to a decrease in the fair value of equity grants as well as a decrease in headcount and outstanding awards resulting from the wind - down of the microbiome program . • General and administrative expenses were $ 6.9 million for the three months ended June 30 , 2021 , compared to $ 9.5 million for the same period in 2020. General and administrative expenses include non - cash stock - based compensation expenses of $ 1.2 million for the three months ended June 30 , 2021 and $ 3.5 million for the same period in 2020. The decrease is primarily due to a decrease in the fair value of equity grants .