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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Poseida Therapeutics Inc | NASDAQ:PSTX | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.97 | 2.93 | 3.06 | 0 | 09:01:19 |
From May 2023 to May 2024
By Colin Kellaher
Poseida Therapeutics shares surged Monday after the clinical-stage biopharmaceutical company said it would receive a $50 million investment from Astellas that will help support its strategic and operational plans.
Shares of the San Diego company were recently changing hands at $2.56, up about 57%.
Poseida said Astellas is taking an 8.8% stake in the company by investing $25 million for more than 8.33 million shares at $3 apiece, an 84% premium to Friday's closing price of $1.63.
Astellas is also paying $25 million for a right of exclusive negotiation and first refusal to license P-MUC1C-ALLO1, Poseida's allogeneic CAR-T cell therapy in development for multiple solid tumor indications.
Posieda said the investment, along with cost-control measures it has implemented, extend its cash runway into early 2025.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 07, 2023 10:26 ET (14:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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