Poseida Therapeutics Shares Soar After Roche Collaboration
August 03 2022 - 10:36AM
Dow Jones News
By Colin Kellaher
Shares of Poseida Therapeutics Inc. surged more than 45% in
early trading Wednesday after the biopharmaceutical company said it
inked a lucrative collaboration and agreement with Swiss drugmaker
Roche Holding AG targeting cancers that affect the blood.
Poseida said it could pick up payments topping $6 billion over
the life of the deal, including $110 million up front and up to
$110 million in near-term milestones and other payments.
The San Diego company and Roche plan to develop allogeneic CAR-T
therapies against targets in multiple myeloma, B-cell lymphomas and
other hematologic indications.
Poseida, which reported a cash and equivalents balance of $183.5
million as of March 31, last year signed a collaboration and
license agreement potentially worth billions of dollars with
Japan's Takeda Pharmaceutical Co. focused on developing nonviral,
in-vivo gene-therapy programs, including Poseida's hemophilia A
program.
Poseida shares were recently changing hands at $3.55, up
46%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 03, 2022 10:21 ET (14:21 GMT)
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