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ASMB on Nasdaq

ASSEMBLY BIOSCIENCES, INC.

ASSEMBLY BIOSCIENCES, INC. is an American pharmaceutical preparations company based in Wilmington.2 Its shares trade on Nasdaq under the symbol ASMB.2

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Last updated Oct 21, 2026.

Overview

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  • TickerASMB on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business addressTwo Tower Place, 7Th Floor, South San Francisco, Ca 940803
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5299007Y1X8RBDFT8C402
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 40424622

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Our current business strategy focuses on applying our deep research and development expertise in virology to discover, develop and advance next-generation therapeutics to patients in areas of high unmet medical need with significant market opportunities to market. We continue to rapidly advance our portfolio toward near-term clinical readouts, highlighted by the following on-going and future activities by doing the following:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-16.8%Operating margin5
-8.5%Net margin5
153.5%Revenue growth, 20255
-3.0%Return on equity5
-$41.2MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development90¢$64.8M
  • Other costs10¢$7.5M

Out of $72.3M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$72.3M in 2025+353% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $16.0M$16.0M20192020: $79.1M$79.1M2020+396%2021: $6.3M$6.3M2021−92%2022: $0$020222023: $7.2M$7.2M20232024: $28.5M$28.5M2024+298%2025: $72.3M$72.3M2025+154%
Operating income6789105-$12.1M in 2025−88% since 2019
-$150.0M-$100.0M-$50.0M02019: -$102.7M-$102.7M20192020: -$64.8M-$64.8M2020−37%2021: -$132.7M-$132.7M2021+105%2022: -$94.1M-$94.1M2022−29%2023: -$64.6M-$64.6M2023−31%2024: -$45.4M-$45.4M2024−30%2025: -$12.1M-$12.1M2025−73%
Net income6789105-$6.1M in 2025−94% since 2019
-$150.0M-$100.0M-$50.0M02019: -$97.6M-$97.6M20192020: -$62.2M-$62.2M2020−36%2021: -$129.9M-$129.9M2021+109%2022: -$93.1M-$93.1M2022−28%2023: -$61.2M-$61.2M2023−34%2024: -$40.2M-$40.2M2024−34%2025: -$6.1M-$6.1M2025−85%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Collaboration revenue from a related party$72.3M$28.5M
Research and development$64.8M$55.9M
General and administrative$19.6M$18.0M
Total operating expenses$84.4M$73.9M
Loss from operations-$12.1M-$45.4M
Interest and other income, net$6.0M$5.6M
Total other income$6.0M$5.6M
Loss before income taxes-$6.1M-$39.8M
Income tax expense$0$330.0K
Net loss-$6.1M-$40.2M
Unrealized gain (loss) on marketable securities$170.0K-$130.0K
Comprehensive loss-$6.0M-$40.3M
Net loss per share - basic-$0.55-$6.69
Net loss per share - diluted-$0.55-$6.69
Weighted average common shares outstanding, basic11.2M shares6.0M shares
Weighted average common shares outstanding, diluted11.2M shares6.0M shares

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Corporate structure

ASSEMBLY BIOSCIENCES, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ASSEMBLY BIOSCIENCES, INC.

  • ASSEMBLY BIOSCIENCES, INC. Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ASSEMBLY BIOSCIENCES, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$221.0K5 Dec 31, 2025$284.0K5 Dec 31, 2024−22.2%
Operating-lease assets (leased space)$2.5M5 Dec 31, 2025$3.1M5 Dec 31, 2024−18.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$58.5M5 Dec 31, 2025$38.3M5 Dec 31, 2024+52.4%
Marketable securities, current$189.7M5 Dec 31, 2025$73.7M5 Dec 31, 2024+157.2%

Properties, in its own words

We lease office space for corporate and administrative functions and laboratory space in South San Francisco, California under a sublease that expires in September 2029.

We believe these leased facilities are adequate for our current needs and that additional space will be available in the future on commercially reasonable terms as needed.

Item 2 of the 10-K filed Mar 19, 2026.4

Leadership

Who has led ASSEMBLY BIOSCIENCES, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Russell H. Ellison2010–2014
  2. Derek A. Small2015–2019
  3. John G. McHutchison2019–2022
  4. Jason A. Okazaki2023–now

President

  1. Derek A. Small2016–2019
  2. John G. McHutchison2019–2022
  3. Jason A. Okazaki2022–now

Chief financial officer

  1. David Jonathan Barrett2010–2015
  2. Michael P. Samar2022

Chief operating officer

  1. Jason A. Okazaki2022
201520202025
Board members and other officers (35)

Former names

  • VENTRUS BIOSCIENCES INCFeb 7, 2008 to Jul 11, 20143

Timeline

  1. Aug 14, 20268-K Results of operations53
  2. Aug 13, 20268-K Completed an acquisition or sale54
  3. Jun 5, 20268-K Executive or director change; Shareholder vote55
  4. May 26, 20268-K Entered a material agreement; Other events56
  5. May 22, 20268-K Regulation FD disclosure; Other events57
  6. May 7, 20268-K Results of operations58
  7. Mar 30, 20268-K Executive or director change59
  8. Mar 19, 20268-K Results of operations60
  9. Dec 8, 20258-K Regulation FD disclosure; Other events61
  10. Nov 10, 20258-K Results of operations62
  11. Aug 11, 20258-K Entered a material agreement; Unregistered sale of shares; Other events63
  12. Aug 8, 20258-K Regulation FD disclosure; Other events64
  13. Feb 17, 2023New chief executive Jason A. Okazaki becomes CEO13
  14. Aug 8, 2019New chief executive John G. McHutchison becomes CEO14
  15. Apr 15, 2015New chief executive Derek A. Small becomes CEO15
  16. Dec 15, 2010New chief executive Russell H. Ellison becomes CEO16

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.72) a share, on Nov 10, 2025.65

When it reported results

  1. Aug 14, 2026Reported quarterly or annual results53
  2. May 7, 2026Reported quarterly or annual results58
  3. Mar 19, 2026Reported quarterly or annual results60
  4. Nov 10, 2025Reported quarterly or annual results62
  5. Aug 6, 2025Reported quarterly or annual results66
  6. May 8, 2025Reported quarterly or annual results67
  7. Mar 20, 2025Reported quarterly or annual results68
  8. Nov 7, 2024Reported quarterly or annual results69

Drug trials and FDA: coming up

  1. Jun 2027Phase 2 trial readout expected Phase 2 trial of ABI-6250 in Chronic Hepatitis D Infection: primary completion expected Jun 2027 (ClinicalTrials.gov NCT07762027).70

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

285 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 58 major events, 120 insider forms, 31 large holders, 56 other. The latest 20:

  1. Aug 20, 2026S-8 EDGAR
  2. Aug 14, 20268-K/A EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 13, 2026SCHEDULE 13G/A EDGAR
  5. Aug 13, 202610-Q EDGAR
  6. Aug 13, 20268-K EDGAR
  7. Aug 4, 2026SCHEDULE 13G/A EDGAR
  8. Jun 18, 20264 EDGAR
  9. Jun 5, 20264 EDGAR
  10. Jun 5, 20264 EDGAR
  11. Jun 5, 20264 EDGAR
  12. Jun 5, 20264 EDGAR
  13. Jun 5, 20264 EDGAR
  14. Jun 5, 20264 EDGAR
  15. Jun 5, 20264 EDGAR
  16. Jun 5, 20264 EDGAR
  17. Jun 5, 20264 EDGAR
  18. Jun 5, 20264 EDGAR
  19. Jun 5, 20264 EDGAR
  20. Jun 5, 20268-K EDGAR

The 285 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

62 open-market trades by officers, directors and large owners since October 2021: 13 buys and 49 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 17, 2026Bjorkquist Jeanette MPFO and PAOSale29$23.25$674Form 4
Mar 30, 2026Bjorkquist Jeanette MPFO and PAOSale328$26.69$8.8KForm 4
Mar 30, 2026White Nicole SChief Manufacturing OfficerSale197$26.69$5.3KForm 4
Aug 8, 2025GILEAD SCIENCES, INC.10% ownerBuy2,295,920Form 4
Mar 31, 2025McHutchison John GDirectorSale757$9.85$7.5KForm 4
Mar 31, 2025Bjorkquist Jeanette MPFO and PAOSale180$9.85$1.8KForm 4
Mar 31, 2025Okazaki Jason ACEO and PresidentSale355$9.85$3.5KForm 4
Mar 31, 2025White Nicole SChief Manufacturing OfficerSale197$9.85$1.9KForm 4
Dec 30, 2024Houghton MichaelDirectorBuy3,202$15.61$50.0KForm 4
Dec 19, 2024GILEAD SCIENCES, INC.10% ownerBuy940,499$21.37$20.1MForm 4
Nov 25, 2024Schornstein Alexander10% ownerBuy7,976$14.91$118.9KForm 4
Nov 22, 2024Schornstein Alexander10% ownerBuy17,024$14.87$253.1KForm 4
Nov 18, 2024White Nicole SChief Manufacturing OfficerSale40$16.29$652Form 4
Oct 8, 2024Schornstein Alexander10% ownerBuy10,000$14.58$145.8KForm 4
Oct 3, 2024White Nicole SChief Manufacturing OfficerSale157$14.81$2.3KForm 4
Oct 3, 2024Okazaki Jason ACEO and PresidentSale197$14.81$2.9KForm 4
Aug 2, 2024White Nicole SChief Manufacturing OfficerSale785$14.23$11.2KForm 4
Aug 2, 2024Okazaki Jason ACEO and PresidentSale981$14.23$14.0KForm 4
Jul 5, 2024Schornstein Alexander10% ownerBuy4,438$12.52$55.6KForm 4
Jul 3, 2024Schornstein Alexander10% ownerBuy4,562$12.29$56.1KForm 4

All 62 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jason A. Okazaki50$647.5K$2.5M84
2025William E. Delaney IVPh.D.$511.3K$1.3M84
2025Anuj GaggarM.D., Ph.D.$502.9K$1.2M84
2024Chief Executive Officer and President$626.2K$1.8M84
2024Chief Scientific Officer$498.2K$963.5K84

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 93. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Gilead Sciences, Inc.4,977,089$136.8M8.3%+471,698
Farallon Capital Management, L.l.c.1,604,590$44.1M0.3%+377,000
Paradigm Biocapital Advisors LP1,553,748$42.7M0.8%+888,497
Commodore Capital LP1,415,000$38.9M2.3%+415,000
Ra Capital Management, L.P.1,020,410$28.0M0.2%No change
Jupiter Topco LLC849,309$23.4M0.0%New
BlackRock, Inc.766,819$21.1M0.0%+564,076
Parkman Healthcare Partners LLC721,181$19.8M2.0%+309,954
Vanguard Capital Management LLC558,942$15.4M0.0%+68,495
Point72 Asset Management, L.P.460,593$12.7M0.0%+116,488
Seven Fleet Capital Management LP433,147$11.9M2.0%+377,000
Millennium Management LLC298,807$8.2M0.0%+65,157
Geode Capital Management, LLC280,424$7.7M0.0%+147,453
Schonfeld Strategic Advisors LLC242,153$6.7M0.0%+121,653
Ameriprise Financial Inc230,000$6.3M0.0%New
Dv Equities, LLC226,415$6.2M0.9%New
Aberdeen Group plc207,047$5.7M0.0%New
Affinity Asset Advisors, LLC190,000$5.2M0.3%New
B Group, Inc.175,706$4.8M2.7%No change
State Street Corp171,931$4.7M0.0%+115,242
Stempoint Capital LP170,378$4.7M0.8%−200,492
Squadron Capital Management LLC160,000$4.4M1.5%New
Woodline Partners LP150,780$4.1M0.0%New
Driehaus Capital Management LLC150,000$4.1M0.0%New
Ally Bridge Group (NY) LLC140,000$3.8M5.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ASSEMBLY BIOSCIENCES, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARASSEMBLY BIOSCIENCES, INC.1
  • CIK0001426800
  • Employer ID (EIN)20-87292644
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business addressTwo Tower Place, 7Th Floor, South San Francisco, CA 940801
  • Phone(833) 409-45831
  • Shares outstanding20,360,596 as of Aug 7, 202612
  • Public float$97.8M as of Jun 30, 20254
  • AuditorErnst & Young LLP, San Jose, California PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceFeb 7, 20081
  • Filings893 in all: 4 (266), 8-K (187), SC 13G/A (60), 10-Q (47), 3 (39), SC 13G (37), 424B5 (21), DEFA14A (20)1
    All 49 form types

    4/A (18), DEF 14A (17), S-8 (17), 10-K (16), UPLOAD (15), EFFECT (12), CORRESP (11), S-3 (10), 144 (8), 3/A (8), S-1/A (7), SCHEDULE 13G (7), SCHEDULE 13G/A (7), PRE 14A (6), REGDEX/A (6), CT ORDER (5), 8-K/A (4), ARS (4), SC 13D/A (4), SCHEDULE 13D/A (3), 10-K/A (2), 424B3 (2), D (2), NT 10-Q (2), REGDEX (2), S-1 (2), S-1MEF (2), S-3/A (2), SC 13D (2), SEC STAFF LETTER (2), 10-Q/A (1), 424B1 (1), 424B4 (1), 5 (1), 8-A12B (1), 8-A12G (1), CERTNAS (1), D/A (1), NT 10-K (1), RW (1), S-3MEF (1)

  • Latest filingsAnnual report (10-K) Mar 19, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 22, 2026
    Latest 8-K (8-K) Aug 13, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 Par ValueASMBThe Nasdaq Global Select Market

From the cover page of the 10-K filed Mar 19, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks ASSEMBLY BIOSCIENCES, INC. names in Item 1A of its 10-K filed Mar 19, 2026: 31 risks under these headings, as written.4

  • Risks Related to Our Business
  • We have no approved products and depend on the future success of the product candidates in our research and development pipeline. We cannot be certain that we or our collaborators will be able to obtain regulatory approval for, or successfully commercialize, product candidates from our current pipeline or any other product candidates that we may subsequently identify, license or otherwise acquire.
  • We are not currently profitable and might never become profitable, and we will need additional financing to complete the development of any product candidates and fund our activities into the future.
  • We expect our collaboration with Gilead to be a critical part of the development, manufacture and commercialization of our product candidates. If this collaboration is unsuccessful, our business could be adversely affected.
  • Nonclinical and clinical studies required for our product candidates are expensive and time-consuming and may fail to demonstrate the level of safety and efficacy necessary for product approval.
  • We rely on CROs to conduct some of our nonclinical and clinical studies due to our lack of suitable facilities and resources. In addition, parts of our business are reliant on CROs, vendors, suppliers and other service providers in locations outside of the United States, including China.
  • The ongoing shutdown of the U.S. Department of Homeland Security (DHS) could prevent the U.S. Customs and Border Protection (CBP) from performing normal business functions on which the operation of our business relies, which could negatively impact our business.
  • Top-line, preliminary or interim data may not accurately reflect the final results of a particular study.
  • We rely on third parties to formulate and manufacture our product candidates and products that we study in combination with our product candidates. Our use of third parties may increase the risk that we will not have sufficient quantities of our product candidates or other products on time or at an acceptable cost.
  • If we lose key management personnel and cannot recruit and retain similarly qualified replacements, our business may materially suffer.
  • Our collaboration partners might delay, prevent or undermine the success of our product candidates.
  • We may not be successful in establishing and maintaining collaborations, which could adversely affect our ability to develop certain of our product candidates.
The other 20 risks
  • We rely on data provided by third parties that has not been independently verified and could prove to be false, misleading, or incomplete.
  • Research, development and commercialization goals, including data releases, may not be achieved in the timeframes that we publicly estimate, which could have an adverse impact on our business and could cause our stock price to decline.
  • Developments by competitors might render our product candidates or technologies obsolete or non-competitive.
  • Other companies with products using the same or similar mechanisms of action as ours may produce negative clinical data, which would adversely affect public and clinical communities’ perceptions of our product candidates, and may negatively impact regulatory approval of, or demand for, our potential products.
  • Significant disruptions of information technology systems or breaches of data security, including cybersecurity incidents, could materially and adversely affect our business, results of operations and financial condition.
  • Our ability to use our net operating loss and credit carryforwards and certain other tax attributes may be limited.
  • Risks Related to Our Regulatory and Legal Environment
  • We are and will be subject to extensive and costly government regulation, and the failure to comply with these regulations may have a material adverse effect on our operations and business.
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time consuming and inherently unpredictable, and if we or our collaborators are ultimately unable to obtain regulatory approval for our product candidates, our business will be substantially harmed.
  • We and our third-party partners and service providers are subject to stringent privacy laws, information security laws, regulations, policies and contractual obligations related to data privacy and security, and compliance with such laws, regulations, policies and contractual obligations could result in additional costs and liabilities to us and failure to comply could adversely affect our business, financial condition, results of operations and prospects.
  • We and our collaborators may be subject, directly or indirectly, to applicable U.S. federal and state anti-kickback, false claims laws, physician payment transparency laws, other fraud and abuse laws or similar healthcare and security laws and regulations, and health information privacy and security laws, which could expose us or them to criminal sanctions, civil penalties, exclusion or suspension from federal and state healthcare programs, contractual damages, reputational harm and diminished profits and future earnings.
  • We face the risk of product liability claims and might not be able to obtain insurance.
  • We might be exposed to liability claims associated with the use of hazardous materials and chemicals.
  • Our employees, independent contractors, consultants, collaborators and CROs may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements for which we may be held responsible and which could result in significant liability for us and harm our reputation.
  • Risks Related to Our Intellectual Property
  • Our business depends on protecting our intellectual property.
  • We may incur substantial costs as a result of litigation or other proceedings relating to our patents and other intellectual property rights.
  • We may infringe the intellectual property rights of others, which may prevent or delay our product development efforts and stop us from commercializing or increase the costs of commercializing our product candidates.
  • The cost of maintaining our patent protection globally is high and requires continuous review and compliance. We may not be able to effectively maintain our intellectual property position throughout the major markets of the world.
  • Intellectual property rights do not address all potential threats to any competitive advantage we may have.
  • Risks Related to Our Common Stock
  • The price of our common stock has in the past and may continue to fluctuate significantly, and you could lose all or part of your investment.
  • Our amended and restated bylaws provide that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to bring a claim in a judicial forum they find favorable for disputes with us or our directors, officers or other employees.

Legal proceedings

We are not a party to any material legal proceedings at this time. From time to time, we may be subject to various legal proceedings and claims that arise in the ordinary course of our business activities. Although the results of litigation and claims cannot be predicted with certainty, we do not believe we are party to any claim or litigation the outcome of which, if determined adversely to us, would individually or in the aggregate be reasonably expected to have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse effect on us because of defense and settlement costs, diversion of management resources and other factors.

The opening of Item 3, Legal Proceedings.4

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