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July 9, 2020, 7:27 a.m. EDT

Poseida Therapeutics to raise up to $236 million in planned IPO

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By Ciara Linnane

PSTX

Poseida Therapeutics Inc. /zigman2/quotes/205712311/composite PSTX +1.18% said Thursday it will offer 14 million share in its initial public offering, priced at $16 each, up from an earlier plan to offer 10 million share priced at $14 to $16 each. The company expects to raise $204.8 million after expenses, or about $236 million if the underwriters exercise the option to buy another 2.1 million shares. BofA Securities, Piper Sandler and William Blair are underwriting the deal. The company has applied to list on Nasdaq, under the ticker "PSTX." Proceeds of the deal will be used to fund clinical trials and for working capital and other general corporate purposes. "We are a clinical-stage biopharmaceutical company dedicated to utilizing our proprietary gene engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure," the company says in its prospectus. The company had a net loss of $28.8 million in the first three months of 2020, after a loss of $13.3 million in the year-earlier period.

/zigman2/quotes/205712311/composite
US : U.S.: Nasdaq
$ 12.83
+0.15 +1.18%
Volume: 225,484
Aug. 7, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$793.10 million
Rev. per Employee
N/A
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