On July 10, 2020, Poseida completed its initial public offering (“IPO”), issuing 14 million shares of common stock with a price of $16.00 per share. On August 18, 2020, it was disclosed by Poseida that a clinical hold was placed on Poseida’s Phase 1 clinical trial evaluating the autologous CAR-T therapy P-PSMA-101 in patients with metastatic castration-resistant prostate cancer by the U.S. Food and Drug Administration (“FDA”). This hold was placed on the trial by the FDA in order to investigate a patient death that occurred in late July. Poseida’s stock price fell $3.94 per share, or 30.31%, on this news, closing at $9.06 per share on August 18, 2020.
Poseida Therapeutics, Inc.
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