Gilead Sciences Increases Stake in Assembly Biosciences to 25.1% via Public Offering

Gilead Sciences, Inc. filed an amendment to its Schedule 13D on May 27, 2026, reporting an increased stake in Assembly Biosciences, Inc. (ASMB). On May 26, 2026, Gilead purchased 471,698 additional shares of common stock through an underwritten public offering at a total cost of approximately $12.5 million, funded by existing cash resources. Following this transaction, Gilead beneficially owns 4,977,089 shares, representing 25.1% of the company's outstanding common stock. This calculation is based on 19,816,995 shares outstanding following the public offering and the underwriters' exercise of their option to purchase additional shares. While Gilead also holds various warrants—including a 2024 warrant for 179,500 shares—these are not currently included in the beneficial ownership total due to a 19.99% blocker provision. The filing serves as Amendment No. 4 to Gilead's original 13D filed in October 2023, reflecting their continued strategic investment in Assembly Biosciences. Andrew D. Dickinson, Gilead's CFO, signed the filing.