John G. McHutchison, a director at Assembly Biosciences, Inc. (NASDAQ:ASMB), recently sold shares valued at approximately $7,455. According to a Form 4 filing with the Securities and Exchange Commission, McHutchison sold 757 shares of the company’s common stock on March 31, 2025, at a weighted average price of $9.8481 per share. The shares were sold in multiple transactions at prices ranging from $9.56 to $10.40. The $73.38M market cap company has shown strong momentum recently, with shares surging 23.49% in the past week. InvestingPro data shows the stock currently trades at $9.81, with analyst targets suggesting significant upside potential.
The sale was executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as mandated by an administrative rule from the company’s Compensation Committee. This transaction was not discretionary on the part of McHutchison. Following this sale, McHutchison retains ownership of 18,347 shares in the company. The company maintains a strong balance sheet with more cash than debt, and investors can access additional insights through InvestingPro, which offers 7 more key tips about ASMB’s financial health and prospects. The company is scheduled to report its next earnings on May 8, 2025.
In other recent news, Assembly Biosciences has initiated a Phase 1a clinical trial for ABI-6250, an investigational oral therapy aimed at treating chronic hepatitis delta virus (HDV) infection. The trial, which has dosed its first participant, will evaluate the safety and tolerability of the drug, with results expected in the third quarter of 2025. This development marks a significant step as ABI-6250 could become the first oral treatment for chronic HDV, potentially simplifying treatment compared to the current standard, which requires daily injections. Additionally, Assembly Biosciences has reported positive interim results from its Phase 1a study of ABI-1179, a candidate for recurrent genital herpes. The company plans to advance ABI-1179 into the Phase 1b portion of the study, which will assess its safety and antiviral activity in more detail. The interim results showed that ABI-1179 exceeded plasma concentration targets necessary for antiviral activity, indicating the potential for once-weekly oral dosing. Assembly Biosciences continues to focus on developing treatments for serious viral diseases, and the investigational products ABI-1179 and ABI-5366 are part of a collaboration with Gilead Sciences, Inc. (NASDAQ:GILD) These developments reflect the company’s ongoing efforts to address unmet needs in the treatment of viral infections.
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