Poseida Therapeutics surges on Roche's $1.5 bln buyout
26/11/2024 14:57
(Updates)
** Shares of drug developer Poseida Therapeutics PSTX.O
more than triple to $9.28, its highest in over three years
** Switzerland's Roche Holding ROG.S to buy PSTX in a cash
deal worth up to $1.5 bln, co says
** ROG will pay $9 per share in cash plus up to $4 extra
based on future milestones, PSTX says
** Deal builds on 2022 Roche-Poseida partnership on CAR-T
therapies for blood cancers
** Deal is expected to close in Q1 2025
** Including session's gains, PSTX more than doubled YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))