Poseida Therapeutics, a Phase 2 biotech developing CAR T cell therapies for multiple myeloma, announced terms for its IPO on Monday.
The San Diego, CA-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Poseida Therapeutics would command a fully diluted market value of $890 million.
The company's pipeline contains lead candidate P-BCMA-101, an autologous CAR-T currently in a potentially registrational Phase 2 trial for multiple myeloma.
Poseida Therapeutics was founded in 2014 and plans to list on the Nasdaq under the symbol PSTX. BofA Securities, Piper Sandler and William Blair are the joint bookrunners on the deal. It is expected to price during the week of July 6, 2020.
