The combined company will be known as Aseembly Biosciences and will trade on the NASDAQ under the ticker ASMB. This new company will focus on the development of Assembly's small molecules to treat, and possibly cure, the hepatitis B virus infection.
Ventrus will issue approximately 23 million shares of common stock to Assembly's stockholders under the deal. At the time of issuance, 20,322,760 shares will be issued common stock and 2,829,740 shares will be shares underlying stock options of Assembly. The companies expect the merger to be completed by July 10, 2014. The deal is subject to approval by Ventrus stockholders.
The stock was down 16.76% to 88 cents at 3:09 p.m.