Assembly Biosciences Inc (NASDAQ:ASMB) experienced a significant stock surge of 14.8% following its announcement to expand the clinical development of its drug ABI-6250 for treating primary biliary cholangitis (PBC) and primary sclerosing cholangitis (PSC). The company plans to initiate a Phase 2 basket study focused on cholestatic liver diseases in the first quarter of 2027, building on the promising results from a completed Phase 1a study. ABI-6250 is designed as an oral small-molecule inhibitor of the sodium taurocholate cotransporting polypeptide (NTCP), which plays a critical role in bile acid transport and is implicated in liver inflammation and damage due to bile acid accumulation. In conjunction with this announcement, Assembly Biosciences revealed a pricing of a guaranteed offering of 3,358,602 common shares at $26.50 per share, aiming to raise around $100 million before fees. The offering includes participation from both new and existing investors, notably Gilead Sciences Inc and Commodore Capital. The company anticipates closing the offering by May 26, 2026, and plans to launch a Phase 2 clinical study for ABI-6250 targeting hepatitis delta virus (HDV) in the fourth quarter of 2026.