RARE Daily

Poseida Raises $70 Million in Public Offering

August 4, 2022

One day after entering into a potential multi-billion-dollar deal with Roche for allogeneic cell therapies for blood cancers, Poseida Therapeutics pricing of an underwritten public offering of 20 million shares of its common stock at a public offering price of $3.50 per share. 

The gross proceeds to Poseida from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $70 million. In addition, Poseida has granted the underwriters a 30-day option to purchase up to an additional 3 million shares of its common stock.

Poseida uses its proprietary genetic engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure. The company is developing a broad portfolio of product candidates in a variety of indications based on its core proprietary platforms, including the non-viral piggyBac DNA Delivery System, Cas-CLOVER Site-specific Gene Editing System, and nanoparticle- and AAV-based gene delivery technologies.

The company says its core platform technologies have utility, either alone or in combination, across many cell and gene therapeutic modalities and enable it to engineer a portfolio of product candidates that are designed to overcome the primary limitations of current generation cell and gene therapeutics.

Author: Rare Daily Staff

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