Assembly Biosciences Inc (ASMB) Q3 2017 10-Q Quarterly Earnings

Short answer

Assembly Biosciences Inc (ASMB) filed its Q3 2017 10-Q quarterly report on Nov 1, 2017 for the quarter ended Sep 30, 2017.

AI summary of MD&A and risk factor updates

Quarterly collaboration revenue $2.7M vs $0 in Q3 2016
R&D expense $11.0M vs $8.9M YoY, including $1.6M stock compensation vs $0.8M
Microbiome R&D increased $1.2M, outperforming HBV-cure R&D increase of $0.3M
Operating cash flow $11.6M for nine months vs negative $23.8M, driven by $46.8M deferred revenue
Outlook: Phase 1b ABI-H0731 data expected Q1 2018, additional funding required as expenses increase

No explicit new or changed risk factors identified versus the 10-K
Clinical failure risk: Phase 1a adverse events included headaches and rashes possibly related to study drug
Regulatory risk: 2017 executive orders could constrain FDA rulemaking, guidance, and application reviews
Liquidity risk: current resources expected to fund operations for at least 12 months, with no approved products or product revenue
Collaboration concentration: Allergan may terminate for convenience with 90 or 120 days’ notice depending on POC-trial timing

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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