Assembly Biosciences pulls the plug on microbiome program

 

• Assembly Biosciences (NASDAQ:ASMB) has announced to wind-down its microbiome program, enabling the company to prioritize resources and focus on hepatitis B virus programs.
• While Assembly Bio will continue its ongoing review of potential strategic options for the microbiome program in the interim, absent an alternative, it expects to wind-down the microbiome program on or around January 31, 2021.
• As of September 30, the company had cash, cash equivalents, and marketable securities of ~$238M, and is projected to fund planned operations into 2H of 2022.
• Last month, the company announced a partnership with Door Pharmaceuticals focused on the development of a class of hepatitis B virus core protein modulators.
• https://seekingalpha.com/news/3642664-assembly-biosciences-pulls-plug-on-microbiome-program