Assembly Biosciences (ASMB) Corporate presentation summary

Pipeline and clinical development

• Multiple clinical-stage investigational therapies target high unmet medical needs and significant market opportunities, with three Phase 2 studies set to initiate between late 2026 and early 2027.

• Lead programs include GS-1179 for recurrent genital herpes, ABI-6250 for hepatitis D and cholestatic liver diseases, and ABI-4334 for hepatitis B.

• GS-1179 and GS-5366, long-acting helicase-primase inhibitors, showed strong Phase 1b antiviral activity and clean safety profiles, with Phase 2 for GS-1179 anticipated by year-end 2026.

• ABI-6250 demonstrated favorable pharmacokinetics, pharmacodynamics, and safety in Phase 1a, supporting Phase 2 studies in hepatitis D and cholestatic liver diseases.

• ABI-4334, a next-generation capsid assembly modulator for hepatitis B, showed potent antiviral activity and a flexible safety profile in Phase 1b.

Strategic partnerships and financial outlook

• Collaboration with Gilead provides expertise, funding, and an established partner for late-stage development and commercialization, with Gilead holding opt-in rights at key development stages.

• Gilead has exercised its option on the HSV program, with $75M collaboration extension payments due in 2026, 2028, and 2030, and potential for up to ~$330M milestones per program.

• Cash runway is projected into 2029, supported by a $320.4M cash position as of June 30, 2026, plus the upcoming Gilead payment.

Market opportunities and unmet needs

• Recurrent genital herpes affects over 60 million people in the US/EU, with current therapies offering limited efficacy and high pill burden; GS-1179 aims to address these gaps with weekly dosing and superior efficacy.

• Hepatitis D and cholestatic liver diseases represent major unmet needs, with ABI-6250 positioned as an oral alternative to injectable therapies and potential to expand into multi-billion-dollar markets for PBC and PSC.

• Hepatitis B remains a global challenge with low cure rates and few new mechanisms of action; ABI-4334 targets both DNA replication and cccDNA formation.

• Transplant-associated herpesviruses cause significant morbidity; ABI-7272 is being developed as a broad-spectrum oral antiviral to improve outcomes in immunocompromised patients.