Why Poseida Therapeutics (PSTX) stock is trading higher premarket today

  • Poseida Therapeutics Inc PSTX has entered into a strategic collaboration and license agreement with Roche Holding Ltd RHHBYfocused on the development of allogeneic CAR-T therapies for hematological malignancies.
  • The collaboration involves the discovery and development of several existing and novel “standard” cell therapies against targets in multiple myeloma, B-cell lymphoma and other hematological indications.
  • Under the terms of the agreement, Poseida will give Roche either exclusive rights or options to develop and commercialize multiple allogeneic CAR-T programs in Poseida’s portfolio.
  • Poseida’s P-BCMA-ALLO1, an allogeneic CAR-T for multiple myeloma, is in Phase 1 trials, and P-CD19CD20-ALLO1, an allogeneic dual CAR-T for B-cell malignancies with an IND, which is expected for 2023.
  • For a portion of the programs in the Poseida portfolio that are licensed or optional to Roche, Poseida will conduct Phase 1 studies and manufacture clinical material prior to transferring the programs to Roche for further development and commercialization.
  • Roche will be solely responsible for late-stage clinical development and global commercialization.
  • Poseida will receive $110 million upfront and could receive up to $110 million in near-term milestones.
  • In addition, Poseida is eligible for up to $6 billion in milestone payments.
  • Price promotion: PSTX shares are up 60.10% to $3.89 during the premarket session last check Wednesday.

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