PSTX - Biotech Soars on Research Collaboration And License Agreement Release

2024-05-01 14:28:11 ET

A California-based %Biotech company is turning heads on Wednesday after it announced that it entered into a research collaboration and license agreement with Astellas Pharma’s Xyphos Biosciences subsidiary.

Shares of %PoseidaTherapeutics (Nasdaq: ) rallied strongly on Wednesday following the announcement, with traders pushing shares of the small cap up to $3.00/share (+23.97%) at the session high. This move is a strong continuation of the success this stock found during the back half of April.

Poseida Therapeutics Inc is a clinical-stage biopharmaceutical company focused on leveraging non-viral gene engineering technologies to create life-saving therapeutics for patients with a high unmet delivery technology. It has built a pipeline of autologous and allogeneic chimeric antigen receptor T cell, or CAR-T, product candidates, initially focused on the treatment of hematological malignancies and solid tumours.