Poseida Therapeutics Added to NASDAQ Biotechnology Index

Rhea-AI Summary

Poseida Therapeutics (NASDAQ: PSTX) announced its upcoming addition to the NASDAQ Biotechnology Index, effective December 21, 2020. This inclusion is significant as the NBI tracks the performance of biotechnology and pharmaceutical companies meeting specific eligibility requirements. The company is focused on developing innovative cell and gene therapies through its proprietary gene engineering platforms. This milestone could enhance visibility and prestige for Poseida, potentially benefiting its market performance and investor interest.

Positive

• Inclusion in NASDAQ Biotechnology Index enhances visibility and prestige.
• Demonstrates meeting eligibility requirements, indicating strong company fundamentals.

Negative

• None.

SAN DIEGO, Dec. 18, 2020 /PRNewswire/ -- Poseida Therapeutics, Inc. (NASDAQ: PSTX), a clinical-stage biopharmaceutical company utilizing proprietary gene engineering platform technologies to create cell and gene therapeutics with the capacity to cure, today announced that it has been selected for addition to the NASDAQ Biotechnology Index^® (Nasdaq: NBI). Addition to the NBI will become effective prior to market open on Monday, December 21, 2020.

The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on The Nasdaq Stock Market^® (Nasdaq^®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB). Companies in the NBI must meet eligibility requirements, including minimum market capitalization and average daily trading volume, among other criteria. The Index is evaluated annually and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Nasdaq: IBB).

For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit https://indexes.nasdaqomx.com/Index/Overview/NBI.

About Poseida Therapeutics, Inc.
Poseida Therapeutics is a clinical-stage biopharmaceutical company dedicated to utilizing our proprietary gene engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure. We have discovered and are developing a broad portfolio of product candidates in a variety of indications based on our core proprietary platforms, including our non-viral piggyBac DNA Modification System, Cas-CLOVER™ site-specific gene editing system and nanoparticle- and AAV-based gene delivery technologies. Our core platform technologies have utility, either alone or in combination, across many cell and gene therapeutic modalities and enable us to engineer our wholly-owned portfolio of product candidates that are designed to overcome the primary limitations of current generation cell and gene therapeutics. To learn more, visit www.poseida.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding the clinical data presented, the potential benefits of Poseida's technology platforms and product candidates and Poseida's plans and strategy with respect to developing its technologies and product candidates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Poseida's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with development and regulatory approval of novel product candidates in the biopharmaceutical industry, the fact that future clinical results could be inconsistent with results observed to date and the other risks described in Poseida's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Poseida undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

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SOURCE Poseida Therapeutics, Inc.

FAQ

What does Poseida Therapeutics' inclusion in the NASDAQ Biotechnology Index mean for PSTX?

Inclusion in the NASDAQ Biotechnology Index enhances Poseida Therapeutics' visibility, possibly attracting more investor interest.

When will Poseida Therapeutics be added to the NASDAQ Biotechnology Index?

Poseida Therapeutics will be added to the NASDAQ Biotechnology Index effective December 21, 2020.

What is the NASDAQ Biotechnology Index?

The NASDAQ Biotechnology Index tracks the performance of biotechnology and pharmaceutical securities listed on the NASDAQ, based on various eligibility criteria.

How does being part of the NASDAQ Biotechnology Index affect Poseida Therapeutics?

Being part of the NASDAQ Biotechnology Index can improve Poseida's market presence and investor appeal, potentially influencing its stock performance positively.