Send me real-time posts from this site at my email
Motley Fool

Why Poseida Therapeutics Stock Is Popping Today

What happened

Shares of Poseida Therapeutics (NASDAQ:PSTX) were jumping 21.2% higher as of 12:08 p.m. EST on Wednesday. The big gain came with the company providing a pipeline update at its virtual R&D Day today.

So what

Poseida said that its virtual R&D Day will include a presentation of a case study for one patient receiving P-PSMA-101. It's an experimental chimeric antigen T cell receptor (CAR-T) therapy that's currently being evaluated in a phase 1 study targeting prostate cancer. The patient in the case study to be discussed experienced a decrease in prostate-specific antigen levels of more than 50% three weeks after receiving P-PSMA-101.

Image source: Getty Images.

The company plans to present updated preclinical data for two allogeneic CAR-T candidates, P-BCMA-ALLO1 and P-MIC1C-ALLO1. Allogeneic CAR-T therapies use other individuals' T cells and could be "off-the-shelf" treatments that are cheaper and quicker to use than current CAR-T therapies. In addition, Poseida's presentations include updates for several other preclinical programs and introduced a new potential pipeline candidate.

Clinical-stage biotech stocks rise and fall nearly entirely based on investors' views about their pipeline prospects. Poseida's updates today gave investors a good reason to be increasingly optimistic about its prospects.

Now what

Poseida expects to provide additional updates for several of its programs later this year. It also expects to file for U.S. approval to advance P-MUC1C-ALLO1 into clinical testing as a treatment for several types of solid tumors by the end of 2021.

10 stocks we like better than Poseida Therapeutics
When investing geniuses David and Tom Gardner have an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Poseida Therapeutics wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

Stock Advisor returns as of 2/1/20

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


Popular posts

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue