Replies to post #241294 on Biotech Values

[bladerunner1717]

re: ASMB

Thanks, Dew.

Bladerunner

[DewDiligence]

ASMB 4Q21 financials—12/31/21_cash=$174.6M:

https://finance.yahoo.com/news/assembly-biosciences-reports-fourth-quarter-210500365.html

No CC.

[DewDiligence]

ASMB 3/31/22 cash=$146.5M—1Q22 burn=$28.1M:

https://finance.yahoo.com/news/assembly-biosciences-reports-first-quarter-200500907.html

No CC.

[DewDiligence]

ASMB—We can now add yet another failing to the array in the post I'm replying to.

[DewDiligence]

ASMB announces small-molecule IFN-receptor candidate for HBV program:

https://finance.yahoo.com/news/assembly-biosciences-introduce-small-molecule-120000640.html

Assembly Biosciences…plans to host a webcast on Tuesday, July 26, 2022 from 1:30-2:30 pm PT/4:30-5:30 pm ET to introduce its new research program advancing a novel, small molecule interferon-alpha receptor (IFNAR) agonist designed to selectively activate the interferon-alpha pathway within the liver and offer the convenience of oral dosing.

As far as I know, no other HBV company is pursing this approach. I wonder why the webcast is scheduled for five weeks from now rather than sooner.

Please see #msg-167605073 and #msg-168960516 for related info.

[DewDiligence]

ASMB discontinues Vebicorvir for HBV, a smart decision that should’ve been made quite a while ago:

https://www.globenewswire.com/news-release/2022/07/20/2483157/16259/en/Assembly-Biosciences-Announces-Program-Reprioritization-and-Organizational-Update.html

Assembly Biosciences will discontinue clinical development of its first-generation investigational core inhibitor, VBR, based on review of interim on-treatment efficacy from the two ongoing VBR triple combination studies. The data indicate that the triple combinations do not show a benefit in multiple key viral parameters compared to the dual combinations without VBR in either study.

…As a result of these data, Study 203, an open-label, Phase 2 study evaluating the triple combination of VBR + nucleos(t)ide analogue reverse transcriptase inhibitors (NrtI) + interferon (PEG-IFN-alpha) versus the dual combinations of VBR + NrtI and NrtI + PEG-IFN-alpha, will conclude immediately.

No additional clinical studies of VBR are currently planned.

This is hardly a surprise. In #msg-167605073 (from Jan 2022) I said:

[ASMB’s] first HBV core inhibitor, VBR (f/k/a ABI-H0731), failed in a 2-drug combination with a nucleoside (#msg-159327881) and is now in various combination trials with external agents (#msg-157913492, #msg-166413748). These trials have a low chance of success (IMO) because VBR is a weak agent on its own, so there would need to be an astonishing degree of synergy for such combinations to provide a functional cure for HBV (the goal that all HBV companies are pursuing). All told, the VBR program looks like an example of Zebra’s Law.

[DewDiligence]

ASMB CEO retires:

https://www.globenewswire.com/news-release/2022/10/05/2529047/16259/en/Assembly-Bio-Announces-Retirement-of-John-G-McHutchison-AO-MD-as-CEO-and-Appoints-Current-President-and-COO-Jason-A-Okazaki-as-Successor.html

The company’s long string of clinical mishaps may have something to do with this decision (#msg-169454462, #msg-167605073).

[DewDiligence]

ASMB halts development of ABI-H3733, an HBV core inhibitor:

https://finance.yahoo.com/news/assembly-biosciences-provides-core-inhibitor-200500620.html

This is the third HBV core inhibitor that ASMB has discontinued, but it’s hardly a surprising development. ASMB has yet to get anything right in HBV—please see #msg-167605073, #msg-168960516, and #msg-169454462 for details.