SAN DIEGO - Poseida Therapeutics, Inc. (NASDAQ: PSTX), a biopharmaceutical company focused on the development of allogeneic cell therapies, announced the presentation of new preclinical data on its CAR+TCR-T cells at the upcoming Society for Immunotherapy of Cancer (SITC) Annual Meeting. The data highlights advancements in CAR+TCR-T cells enriched with stem cell memory T cells (TSCM) and their enhanced potency in targeting solid tumors. The SITC presentation is scheduled for Saturday in Houston.
In addition, Poseida will showcase further findings at the American Society of Hematology (ASH) Annual Meeting in December in San Diego. These include detailed patient response profiles from the Phase 1 Arm C of the P-BCMA-ALLO1 study, previously discussed at the International Myeloma Society Meeting in September, and preclinical data from the P-CD19CD20-ALLO1 trial for B-cell malignancies.
P-BCMA-ALLO1, an investigational non-viral allogeneic CAR-T therapy, has been granted Regenerative Medicine Advanced Therapy (RMAT) designation by the FDA for certain adult multiple myeloma patients. It is currently undergoing Phase 1/1b trials. P-CD19CD20-ALLO1, a dual CAR-T cell product targeting CD19 and CD20, aims to improve treatment for relapsed or refractory B-cell malignancies. This therapy is designed to be an off-the-shelf solution, eliminating the need for individual patient cell manufacturing.
Poseida's suite of technologies, including its non-viral transposon-based DNA delivery system and proprietary gene editing platforms, underpins its pipeline of allogeneic CAR-T cell therapies. The company has established strategic partnerships, notably with Roche (LON:0QQ6), to advance the development of these therapies for hematologic cancers.
The company's forward-looking statements suggest optimism regarding the potential of its product candidates and technology platforms. However, these statements are subject to risks and uncertainties, including the variability of clinical trial results and the challenges inherent in the development and regulatory approval processes in the biopharmaceutical industry.
This article is based on a press release statement from Poseida Therapeutics, Inc.
In other recent news, Poseida Therapeutics has been the subject of several notable developments. The biopharmaceutical company has continued to progress with its new CAR-T therapy candidate, a development that has triggered a $15 million milestone payment as part of their collaboration with Roche. This milestone boosts Poseida's financial position into early 2026.
H.C. Wainwright maintained a Buy rating and a $20.00 stock price target for Poseida Therapeutics, following recent transactions within the pharmaceutical industry involving drug candidates for B-cell malignancies. The analyst highlighted the industry's growing interest in repurposing B-cell malignancy drug candidates for the treatment of autoimmune diseases, supporting the firm's positive outlook on Poseida Therapeutics.
Poseida Therapeutics also reported positive data from an ongoing study in collaboration with Roche, evaluating P-BCMA-ALLO1 for the treatment of relapsed and refractory multiple myeloma. The study reported an overall response rate of 91% in 23 evaluable patients, with no dose-limiting toxicities observed. The U.S. Food and Drug Administration granted Poseida's P-BCMA-ALLO1 Regenerative Medicine Advanced Therapy designation, highlighting its potential to address unmet medical needs in the multiple myeloma patient population.
Other recent developments include an affirmation of Piper Sandler's Overweight rating on shares of Poseida Therapeutics, and the appointment of Cynthia Collins, a biotech veteran with extensive experience in cell therapy and genetic medicine, to the board of directors of MaxCyte Inc. Poseida Therapeutics concluded the second quarter of 2024 with $238 million in cash, anticipated to fund operations into the second half of 2025.
InvestingPro Insights
Poseida Therapeutics' (NASDAQ: PSTX) innovative approach to cell therapies is reflected in its financial and market position. According to InvestingPro data, the company has a market capitalization of $255.91 million, indicating its relatively small but potentially growth-oriented status in the biotech sector.
An InvestingPro Tip reveals that Poseida holds more cash than debt on its balance sheet, which is crucial for a company in the research-intensive biopharmaceutical industry. This financial stability could provide the company with the necessary runway to advance its promising CAR+TCR-T cell therapies and allogeneic CAR-T programs through clinical trials and potential commercialization.
However, it's important to note that Poseida, like many early-stage biotech companies, is not yet profitable. The company's revenue for the last twelve months as of Q2 2023 was $88.46 million, with a significant revenue growth of 29.78% in Q2 2023. This growth aligns with the company's ongoing clinical trials and partnerships, such as the one with Roche, which could potentially drive future revenue.
Another InvestingPro Tip indicates that analysts do not anticipate the company will be profitable this year. This is not uncommon for biotech firms investing heavily in R&D and clinical trials. Investors should consider this alongside the potential long-term value of Poseida's pipeline, including the P-BCMA-ALLO1 and P-CD19CD20-ALLO1 therapies highlighted in the article.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips for Poseida Therapeutics, providing a more comprehensive view of the company's financial health and market position.
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