SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Assembly Biosciences Inc. (ASMB) on Thursday reported fourth-quarter net income of $22.1 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 $2.48.
The biotech drug developer posted revenue of $42.5 million in the period.
For the year, the company reported that its loss narrowed to $6.1 million, or 55 cents per share. Revenue was reported as $72.3 million.
Assembly Biosciences shares have dropped 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.51, more than doubling in the last 12 months.
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