Financially, Poseida is estimated to have pro forma cash reserves of approximately $246 million, with an outstanding debt of $58.9 million. The downgrade reflects the new valuation parameters set by the proposed acquisition terms by Roche. InvestingPro analysis reveals a strong current ratio of 3.2, indicating solid liquidity position.
For deeper insights into Poseida's financial health and 16 additional ProTips, including detailed valuation metrics and analyst forecasts, investors can access the comprehensive Pro Research Report on InvestingPro.
InvestingPro analysis reveals a strong current ratio of 3.2, indicating solid liquidity position. For deeper insights into Poseida's financial health and 16 additional ProTips, including detailed valuation metrics and analyst forecasts, investors can access the comprehensive Pro Research Report on InvestingPro.
Poseida, a biotechnology company, has been collaborating with Roche on two clinical studies: a Phase I multiple myeloma study with P-BCMA-ALLO1 and a Phase I B-cell lymphoma study with P-CD19CD20-ALLO1.
At the recent International Myeloma Society meeting, Poseida presented promising results from its P-BCMA-ALLO1 cell therapy, which showed a 91% overall response rate (ORR) in a study involving patients with relapsed/refractory multiple myeloma (r/rMM).
Roche's partnership with Poseida has been further solidified by the nomination of a new allogeneic dual antigen CAR-T therapy for hematologic cancers in October, which led to a $15 million milestone payment to Poseida.
Additionally, Roche will gain access to Poseida's allogeneic P-MUC1C-ALLO1, which has Phase I solid tumor data set to be presented at the ESMO-IO conference in December, and will regain rights to P-BCMACD19-ALLO1.
Financially, Poseida is estimated to have pro forma cash reserves of approximately $246 million, with an outstanding debt of $58.9 million. The downgrade reflects the new valuation parameters set by the proposed acquisition terms by Roche.
In other recent news, Roche is set to acquire Poseida Therapeutics in a deal potentially worth up to $1.5 billion. This acquisition is expected to strengthen Roche's portfolio in the area of cell therapies.
Poseida Therapeutics has been making strides in the development of CAR-T cell therapies, as evidenced by their recent presentations of data, including a 91% overall response rate from a study evaluating P-BCMA-ALLO1 for the treatment of relapsed and refractory multiple myeloma.
Piper Sandler and H.C. Wainwright have maintained positive ratings on Poseida, with H.C. Wainwright reiterating a Buy rating and a $20.00 stock price target. In another development, Poseida Therapeutics has nominated a new CAR-T therapy development candidate, a move that has triggered a $15 million milestone payment as part of their collaboration with Roche.
These recent developments highlight the ongoing progress and collaborations in Poseida Therapeutics' mission to advance allogeneic cell therapies and genetic medicines.
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