Shares of Assembly Biosciences, Inc. (NASDAQ: ASMB) plummeted 69.37% on Friday. The drop in stock prices came after it disclosed the discouraging result from a Phase 2 study analyzing vebicorvir (VBR) in treating patients with chronic hepatitis B virus (HBV) infection.
The open-level Phase extension study is a unique study that has been conducted to investigate whether sustained virologic response (SVR) could be attained after stopping the treatment in virologically-suppressed patients. It includes those patients who had got at least 12-18 months of combination treatment with core inhibitor VBR and a nucleos(t)ide analogue reverse transcriptase inhibitor (NrtI).
The patients who had received treatment were monitored after stopping the treatment to check the safety and relapse. But the results of Study 211 were not satisfactory as 39 of 41 patients’ conditions have deteriorated after the period of improvement.
The interim off-treatment virological results have shown that 22 out of 23 patients who discontinued treatment with VBR+Nrtl were HBeAg negative. 16 of these patients relapsed at post-treatment week 4, 3 relapsed at post-treatment week 12, and 3 relapsed at post-treatment week 16. 1 of these patients has not relapsed.
17 out of 18 were HBeAg positive. 17 these patients have relapsed at post-treatment week 4, and 1 patient has not shown any negative health effects.
Shares of Assembly Biosciences, Inc. (NASDAQ: ASMB) went down 69.37% at $4.87 during the trading session of Friday. It had a trading volume of 21.51 million as compared to the average volume of 245.91K. Assembly biosciences stock has fluctuated between the 52-weeks low range of $10.23 and 27.84 from its 52-weeks high range.
It has traded down -52.39% from its 52-weeks low and -82.51% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 13.60 and its quick ratio is also the same as the current ratio. This company has a total market capitalization of $162.71 million at the time of writing.