Here's Why Assembly Biosciences Stock Is Soaring Today
Shares of Assembly Biosciences (NASDAQ: ASMB), a clinical-stage biopharmaceutical company, were on the move after the company priced an upcoming share offering. Investors encouraged by the offering price drove the stock 29.2% higher as of 1:33 p.m. EST on Thursday.
After losing $70.6 million during the first nine months of 2019, Assembly Biosciences finished September with just $157 million in cash and securities. Its experimental treatments for the hepatitis B virus (HBV) have performed well in mid-stage testing, but it's going to be a long time before we see any pivotal data that could support a new drug application.
Image source: Getty Images.
Source Fool.com
