Poseida Therapeutics Shares Soar After Roche Collaboration

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 [e-mail]

(END) Dow Jones Newswires

August 03, 2022 10:21 ET (14:21 GMT)

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