Welcome to our dedicated page for Poseida Therapeutics news (Ticker: PSTX), a resource for investors and traders seeking the latest updates and insights on Poseida Therapeutics stock.
Poseida Therapeutics, Inc. (Nasdaq: PSTX) is a clinical-stage biopharmaceutical company that specializes in developing innovative cell and gene therapies aimed at curing certain cancers and rare diseases. The company's core focus is on leveraging non-viral gene engineering technologies to create life-saving therapeutics for patients with unmet medical needs. Poseida's pipeline includes autologous and allogeneic chimeric antigen receptor T cell (CAR-T) product candidates, initially targeting hematological malignancies and solid tumors.
Poseida boasts best-in-class genome engineering capabilities, utilizing proprietary tools like the piggyBac™ DNA modification system, nextGEN™ CRISPR, XTN™ TALEN, and the footprint-free™ gene editing system. These tools are virus-free and offer surgical precision in gene editing, enabling the development of highly effective therapies.
Recent achievements include significant advancements in the company's lead program, P-BCMA-ALLO1, a novel BCMA-targeted allogeneic CAR-T therapy for treating relapsed/refractory multiple myeloma (RRMM). The FDA recently granted Orphan Drug Designation for P-BCMA-ALLO1, underscoring its potential to meet high unmet medical needs. Poseida is investigating this therapy in collaboration with Roche, with promising preliminary data presented at major scientific conferences.
In addition to its focus on cancer, Poseida is also advancing genetic medicines for rare diseases. The company has highlighted progress in its gene therapy pipeline, especially for conditions like Hereditary Angioedema and Hemophilia A. These programs employ fully non-viral approaches, leveraging Poseida's advanced genetic engineering and delivery platforms.
Poseida has formed strategic collaborations with industry giants like Janssen and Roche, enhancing its capacity to bring innovative therapies to market. The company also recently entered into a research collaboration with Xyphos Biosciences, a subsidiary of Astellas, to develop novel convertibleCAR® programs targeting solid tumors.
Financially, Poseida reported revenues of $28.1 million for Q1 2024, a substantial increase from the previous year, primarily driven by collaborations with Astellas and Roche. With a strong cash position and additional funding from strategic partnerships, Poseida is well-positioned to advance its pipeline and achieve key milestones in 2024 and beyond.
Learn more about Poseida Therapeutics and its groundbreaking work by visiting www.poseida.com and connecting with the company on X and LinkedIn.
Poseida Therapeutics (Nasdaq: PSTX) announced the appointment of Rafael G. Amado, M.D., to its Board of Directors on April 13, 2023. Dr. Amado brings extensive expertise in oncology and cell therapies, supporting Poseida's mission to advance innovative treatments for cancer and rare diseases. His leadership roles at Zai Lab, Allogene Therapeutics, and Adaptimmune, along with his background in pharmaceutical research, position him well to provide strategic insights. The CEO, Mark Gergen, welcomed Dr. Amado, emphasizing his potential contribution to the company's growth and the development of its promising pipeline in oncology and genetic diseases. The company focuses on differentiated cell and gene therapies, utilizing proprietary platforms for its product candidates.
On April 11, 2023, Poseida Therapeutics (NASDAQ: PSTX) announced an inducement award for Kristin Yarema, the new President of Cell Therapy. The award consists of a stock option for 498,325 shares priced at the fair market value on the grant date, vesting over four years, and a restricted stock unit for 356,836 shares, also vesting over four years. Yarema's employment is subject to the terms of these agreements. Poseida is focused on developing innovative gene and cell therapies aimed at curing cancers and rare diseases, utilizing proprietary technologies such as the piggyBac® DNA Delivery System and Cas-CLOVER™ Gene Editing. The company has strategic collaborations with Roche and Takeda to further enhance its therapeutic initiatives.
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