24/7 Market News Snapshot 26 November, 2024 – Poseida Therapeutics, Inc. Common Stock (NASDAQ:PSTX)

November 26, 2024

DENVER, Colo., 26 November, 2024 (247marketnews.com) – (NASDAQ:PSTX) are discussed in this article.
Poseida Therapeutics, Inc. is currently experiencing an extraordinary pre-market surge, with shares trading at $9.129, marking a remarkable increase of 219.20% from the previous closing price of $2.860. This surge is coupled with a substantial trading volume of 722.88K shares, reflecting robust investor enthusiasm and momentum. The notable price movement indicates a significant level of interest, suggesting traders are keen to capitalize on the unfolding events surrounding the company, which is making strides in innovative therapeutic solutions.

In a transformative development, Poseida Therapeutics has announced a merger agreement with Roche Holdings, Inc. Under this agreement, Poseida shareholders are set to receive a total of $13.00 per share, which consists of an immediate cash payment of $9.00 per share at closing, along with a contingent value right (CVR) that could yield additional payments of up to $4.00 per share based on the achievement of designated milestones. This transaction values Poseida’s equity at approximately $1.5 billion on a fully diluted basis.

The merger positions Poseida to significantly enhance its innovative pipeline of non-viral, T stem cell memory (TSCM)-rich CAR-T therapies and advanced genetic medicines within Roche’s Pharmaceuticals Division. This strategic acquisition aims to bolster Roche’s capabilities in allogeneic cell therapy, thereby expanding existing partnerships in hematologic malignancies and exploring new avenues in solid tumors and autoimmune diseases.

Dr. Kristin Yarema, President and CEO of Poseida Therapeutics, underscored the partnership’s importance, stating that joining Roche will leverage their extensive global capabilities, ensuring that cutting-edge therapies reach patients worldwide. The transaction, anticipated to close in the first quarter of 2025 pending customary conditions and regulatory reviews, will facilitate the integration of Poseida’s expertise into Roche’s innovative framework, accelerating advancements in healthcare solutions for cancer and other challenging conditions.

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