$PSTX reports strong progress in cell and gene therapy programs & financial results
Mar 9th 2023, 9:06 pm
Analyst Summary: Poseida Therapeutics has announced its Q4 and full-year 2022 financial results and program updates. The clinical-stage cell and gene therapy company reported strong progress and validation for its proprietary technology and programs in both cell and gene therapy. Mark Gergen, CEO of the Company said, "2022 was a year of execution, progress, and validation for our proprietary technology and programs in both cell and gene therapy." The company expects to file an IND for one of its preclinical allogeneic CAR-T products in mid-2023. The company is also advancing multiple preclinical gene therapy programs in liver-directed diseases. Poseida's revenues increased primarily due to collaboration and license agreements with Roche and Takeda. The company increased its headcount, including an increase in stock-based compensation expense. Poseida expects its cash, cash equivalents, and short-term investments will be sufficient to fund operations into at least mid-2024. Based on the updates, we believe that Poseida Therapeutics is making good progress in developing its technologies and product candidates. Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is based on Poseida Therapeutics' current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Poseida Therapeutics does not undertake any obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Investors should take note of the forward-looking statements and use caution in making investment decisions.