Poseida Therapeutics slumps despite promising data from prostate cancer study

Poseida Therapeutics

31/08/2021 19:45

** Drug developer's shares  PSTX.O  down ~18% at $8.76
    ** Reports positive preliminary data from an early-stage
study of its CAR-T cell therapy in prostate cancer patients (https://refini.tv/3Bs7OAF)
    ** Data is for the first nine patients enrolled; five
patients dosed showed measurable declines in Prostate-Specific
Antigen (PSA) levels 
    ** Three patients showed a greater than 50% decline in PSA
levels, while one demonstrated evidence of complete tumor
elimination - PSTX
    ** The study was paused last August after the death of a
participant due to liver failure, with the U.S. FDA lifting the
clinic hold in November
    ** Brokerage BTIG sees "the selloff being related to a
sell-the-news event", adding the weakness offers a buying
opportunity as Poseida has a robust pipeline across cell and
gene therapy 
    ** Stock has lost ~20% YTD


 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))