** Shares of biotech firm Assembly Biosciences ASMB.O rise 3.2% to $36.38

** ASMB says Gilead Sciences GILD.O has exercised its combined option to exclusively license Assembly's herpes simplex virus programs, including two long-acting experimental drugs for recurrent genital herpes, ABI-1179 and ABI-5366

** ABI-1179 and ABI-5366 are long-acting drugs that block an enzyme needed for herpes virus to replicate, aiming to improve chronic treatment for recurrent genital herpes, a chronic viral infection caused by the herpes simplex virus that affects the genital area

** Under the terms of the 2023 collaboration agreement, ASMB will receive a $35 million payment from Gilead for exercising the combined HSV program option

** Gilead gains exclusive rights and responsibility for further clinical development and commercialization of the therapies

** ASMB remains eligible for up to $330 million in regulatory and commercial milestones, as well as tiered royalties on net sales

** Including session moves, ASMB has more than doubled YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))