Poseida Therapeutics has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing, although the offering is valued up to $115 million. The company intends to list its shares on the Nasdaq under the symbol PSTX.
The underwriters for the offering are Citigroup, Credit Suisse and Wells Fargo.
This clinical-stage biopharmaceutical company is focused on leveraging its proprietary next-generation, non-viral gene engineering technologies to create life-saving therapeutics for patients with high unmet medical need. The firm built its wholly owned pipeline of autologous and allogeneic chimeric antigen receptor T cell (CAR-T) product candidates, initially focused on the treatment of hematological malignancies and solid tumors.
Its proprietary gene engineering technologies are used to create product candidates predominantly comprised of a specific T cell subset, stem cell memory, with the goal of addressing the limitations of other CAR-T therapies, including duration of response, the ability to treat solid tumors and tolerability concerns.
Poseida’s lead product candidate, P-BCMA-101, is an autologous CAR-T therapy being developed to treat patients with relapsed/refractory multiple myeloma. Preliminary results from its ongoing Phase 1 dose escalation clinical trial of P-BCMA-101 showed that as of November 21, 2018, of the 19 patients that were evaluable by International Myeloma Working Group criteria, 14 had meaningful responses with an objective response rate of 100% in three evaluable patients that had received the dose of P-BCMA-101 the firm expects to advance into Phase 2 clinical development.
The company intends to use the net proceeds from the offering to further develop its pipeline, as well as for working capital and general corporate purposes.
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