Assembly Biosciences rises as Gilead opts to license co's HSV therapies
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
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