Overview

• US biotech firm's Q1 revenue from Gilead collaboration declined yr/yr due to timing of activities

• Q1 net loss widened slightly, with higher share count impacting per-share loss

• Company completed Phase 1b studies for herpes and hepatitis delta virus candidates

Outlook

• Company expects to decide on Gilead herpesvirus program cost-profit share opt-in by mid-2026

• Initiation of Phase 2 study for ABI-6250 in hepatitis delta virus expected in Q4 2026

Result Drivers

• REVENUE TIMING - Decline in collaboration revenue attributed to timing of activities and progress under Gilead agreement

• R&D EXPENSES FLAT - Research and development expenses were stable, with higher employee compensation and research offset by lower external program costs after trial completion

• ADMIN COSTS UP - General and administrative expenses rose due to increased stock-based compensation related to performance-based awards

Company press release: ID:nGNXbjZVpK

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Assembly Biosciences Inc is $46.50, about 48.3% above its May 6 closing price of $31.36

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