Assembly Biosciences: 2Q Earnings Snapshot
Posted August 5, 2020 6:52 pm.
Last Updated August 5, 2020 6:54 pm.
This article is more than 5 years old.
SOUTH SAN FRANCISCO, Calif. (AP) _ Assembly Biosciences Inc. (ASMB) on Wednesday reported second-quarter net income of $7.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the South San Francisco, California-based company said it had profit of 19 cents.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The biotech drug developer posted revenue of $39.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $30.5 million.
Assembly Biosciences shares have risen 9.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.40, a climb of 89% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASMB at https://www.zacks.com/ap/ASMB
The Associated Press
