Poseida Sinks On Prostate Cancer CAR-T Clinical Hold
The Newly Public Company’s Stock Closed Down 30%
Poseida’s technologies are designed to deliver safer, more effective cell and gene therapies, but the first trial for its autologous PSMA-targeting CAR-T therapy was put on a clinical hold after a patient died.
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Takeda will use Poseida’s non-viral delivery and gene-editing capabilities for six liver- and hematopoietic stem cell-targeted gene therapies. The agreement follows recent gene therapy tie-ups with Selecta and Genevant.
A Phase I study for allogeneic therapy UCARTCS1A was put on clinical hold after a patient died. High dosing and double exposure to cyclophosphamide pre-conditioning may have played a role.
The performance of 29 biopharma firms that launched IPOs during the first half of 2020 is staggering compared with 28 drug developers that went public in the first half of 2019 with a 10% average return.