Biotech Values

[mcbio]

Re: ASMB

What's the story on ASMB? Have you followed this one closely? Stock has had a heck of a run past few years and now sports close to a $1B market cap with limited clinical data for their lead HBV drug (in Phase 1B now). That doesn't necessarily mean the stock is expensive because if they truly have something in HBV, the stock could still be worth a look. A few questions:

1. Looks like they are developing capsid inhibitors against the HBV core protein which I believe others are doing as well. What differentiates ASMB approach from others like ABUS and big pharma?

2. Why are they running the Phase 1B trial solely in New Zealand? Just seems odd doesn't it? Why not in U.S.?

3. Is it a concern that they are developing multiple follow-on generations of capsid inhibitors beyond the lead drug? Concern with lead drug? I read the latest 10-Q and the second drug is at least apparently more potent than the lead. Is the lead a non-starter?

4. On top of this recent raise, ASMB filed a $250M mixed shelf on 12/29/17. They are expecting Phase 1B data from lead drug this quarter.