Assembly Biosciences
Develops antiviral and liver-disease candidates through discovery and clinical development.
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Profile
A biotechnology company that discovers and clinically develops antiviral and liver-disease candidates. Its model depends on the Gilead collaboration and outside manufacturers, with no approved products generating sales revenue.
Develops antiviral and liver-disease candidates from discovery through clinical development. HSV helicase-primase inhibitor programs and hepatitis B virus research form its core work.
The 2014 Assembly Pharmaceuticals combination shifted the listed company from specialty pharmaceuticals to virology research, making Assembly the successor to Ventrus. Under a long-term Gilead R&D collaboration, Gilead holds program opt-in rights.
Operations are based in South San Francisco, where research and clinical development are conducted. The company depends on third-party manufacturers for investigational-product supply, does not plan to build manufacturing facilities, and has no approved products generating sales revenue.
Company facts
Key statistics
Year to date +0.7% · Average volume (30d) 226.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 18, 2026 | H.C. Wainwright | Reiterate | Buy | $50 | |
| Jun 15, 2026 | Mizuho Securities | Target | $40 | $45 | |
| Nov 20, 2025 | Mizuho Securities | Target | $36 | $40 | |
| Sep 24, 2025 | JMP Securities | Target | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.72 | −$0.20 | +72.4% | $8.6M | $13.4M | +55.5% | +10.02% |
| May 7, 2026Q1 FY26 | −$0.73 | −$0.54 | +26.0% | $9.3M | $8.2M | −11.4% | −3.85% |
| Mar 19, 2026Q4 FY25 | −$0.51 | $2.48 | +586.3% | $7.4M | $42.5M | +472.2% | +3.45% |
| Nov 10, 2025Q3 FY25 | −$0.50 | −$0.72 | −44.0% | $7.5M | $10.8M | +44.6% | +3.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $9.4M | $9.6M | $10.8M | $42.5M | $8.2M | $13.4M | |
| Gross profit | −$5.4M | −$6.5M | −$5.8M | $42.4M | $8.2M | $13.4M | |
| Operating income | −$9.9M | −$11.1M | −$10.9M | $19.8M | −$11.4M | −$6.3M | |
| Net income | −$8.8M | −$10.2M | −$9.2M | $22.1M | −$9.1M | −$3.9M | |
| Diluted EPS | −$1.17 | −$1.33 | −$1.20 | $2.49 | −$0.54 | −$0.20 | |
| Gross margin | -57.7% | -67.5% | -53.7% | 99.9% | 99.7% | 99.9% | |
| Operating margin | -105.5% | -115.2% | -100.9% | 46.6% | -138.4% | -47.4% |
Fiscal years (4-quarter sums)FY21 $6.3M · FY22 $0 · FY23 $7.2M · FY24 $28.5M · FY25 $72.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $320.4M · Total debt $2.4M · Total assets $330.8M · Shareholders' equity $305.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 19.82M · Float 12.47M · 62.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Gilead Sciences, Inc. · 10 percent owner | 4.98M | 25.11% | Form 4 | May 27, 2026 |
| Farallon Capital Management LLC | 1.23M | 6.19% | 13F | May 15, 2026 |
| Ra Capital Management, L.P. | 1.02M | 5.15% | 13F | May 15, 2026 |
| Commodore Capital LP | 1.00M | 5.05% | 13F | May 15, 2026 |
| Paradigm BioCapital Advisors LP | 865.3K | 5.40% | 13G | May 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 17, 2026 | Jeanette M. Bjorkquist | officer: PFO and PAO | −29 | $23.25 |
| Mar 30, 2026 | Nicole S. White | officer: Chief Manufacturing Officer | −197 | $26.69 |
| Mar 30, 2026 | Jeanette M. Bjorkquist | officer: PFO and PAO | −328 | $26.69 |
| Aug 8, 2025 | Gilead Sciences, Inc. | 10 percent owner | +4,591,840 | $10.80 |
Peers
- GSK (ADR)
HBV functional-cure and therapeutic HSV vaccine programs.
- Arbutus Biopharma
Chronic HBV programs built around imdusiran and AB-101.
- VirBio
HBV and HDV regimen development with tobevibart and elebsiran.
- Enanta Pharmaceuticals
Oral HBV core-inhibitor program for combination regimens.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Assembly Biosciences | $34.07 | +0.24% | $675.2M | 61.9 | — | 9.0 | +38.9% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Arbutus Biopharma | $5.09 | +0.74% | $1.00B | 6.5 | — | 5.5 | −90.6% |
| VirBio | $10.83 | 0.00% | $1.83B | — | — | 6.0 | +19,582.5% |
| Enanta Pharmaceuticals | $13.60 | −0.22% | $395.5M | — | — | 6.1 | −21.6% |
| Median | 11.2 | 9.2 | 5.8 | −9.5% |