Assembly Biosciences Inc. reported cash, cash equivalents, and marketable securities of $232.6 million as of September 30, 2025, up from $75.0 million at June 30, 2025, following $175 million in gross proceeds from equity financings. Revenue from collaborative research with Gilead was $10.8 million for the third quarter of 2025, compared to $6.8 million for the same period in 2024. Research and development expenses increased to $16.6 million from $13.5 million year over year, mainly due to higher spending on the HSV program. General and administrative expenses were $5.1 million, up from $4.3 million in the previous year, reflecting higher professional fees and increased stock-based compensation. The company released positive interim results for its ABI-5366 and ABI-6250 candidates and anticipates additional data readouts from its HSV program by year-end. Initiation of a Phase 2 study for ABI-5366 is expected in mid-2026. Assembly Biosciences projects its current cash position will fund operations into late 2027.