What CEO Jason Okazaki called Assembly Biosciences Inc.’s “monumental” deal for new antivirals with Gilead Sciences Inc. brings $100 million right away, consisting of an $84.8 million up-front payment and a $15.2 million equity investment. Wall Street liked it, and shares of South San Francisco-based Assembly (NASDAQ:ASMB) closed Oct. 17 at $1.25, up 52 cents or 72%, on word of the 12-year arrangement. Gilead (NASDAQ:GILD) ended at $80.48, up $1.28.
A clinical hold on an Antios Therapeutics drug has led to the end of a collaboration with Assembly Biosciences less than a year after their alliance began. The partners had hoped pairing their drugs with an approved Gilead Sciences antiviral would produce a combination hepatitis B treatment with the potential for a cure.