Poseida Therapeutics Shares Triple on Roche Acquisition Worth Up to $1.5B

Dow Jones

Nov 26, 2024

By Dean Seal

Shares of Poseida Therapeutics tripled after the company agreed to be acquired by Roche in a deal worth up to $1.5 billion.

The stock was changing hands at $9.21 in premarket trading on Tuesday. Shares closed yesterday's trading session at $2.86.

The clinical-stage cell and gene therapy company said Tuesday that it would be acquired for about $1 billion, or $9 a share, and additional performance-related payments worth up to $4 a share.

The two companies have been working together since 2022 to develop CAR-T cell therapies for patients with hematological malignancies.

Roche is also acquiring Poseida Therapeutics' other cell-therapy candidates as well as related manufacturing capabilities and platform technologies.

The transaction is expected to complete in the first quarter of 2025.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 26, 2024 06:52 ET (11:52 GMT)

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Shares closed yesterday's trading session at $2.86. \n\n\n  The clinical-stage cell and gene therapy company said Tuesday that it would be acquired for about $1 billion, or $9 a share, and additional performance-related payments worth up to $4 a share. \n\n\n  The two companies have been working together since 2022 to develop CAR-T cell therapies for patients with hematological malignancies. \n\n\n  Roche is also acquiring Poseida Therapeutics' other cell-therapy candidates as well as related manufacturing capabilities and platform technologies. \n\n\n  The transaction is expected to complete in the first quarter of 2025. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 26, 2024 06:52 ET (11:52 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}