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Monday, September 20, 2021

Why Poseida Therapeutics Inc (PSTX) stock price fluctuated on Friday?

Poseida Therapeutics Inc. (PSTX) shares surged 6.78% to trade at $9.45 in after-market on Friday, April 23, 2021. Earlier, PSTX’s stock lost 3.80% to close Friday’s session at $8.85. PSTX shares have moved up by 3.51% in the past week. Over the past three months, the stock has lost 4.32%, while over the past six months, it has shed 11.50%.


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Let’s see what are the latest news about PSTX.

Participation in the investor conferences

On April 8, 2021, Poseida Therapeutics announced to participate in the 7th Annual Truist Securities 2021 Life Sciences Summit which is going to held on Wednesday, May 5, 2021. The Poseida CEO Eric Ostertag, MD, Ph.D. will do the Fireside chat at3:30pm ET.

Poseida Therapeutics recently participated in the Raymond James Cell Therapy for Oncology Symposium which held on Thursday, April 22, 2021.
Poseida CEO Eric Ostertag, MD, Ph.D. talked about the manufacturing of off the shelf cell-based therapy.

Poseida Therapeutics also participated in the SternIR Virtual Corporate Access Event which took place on January 11-14, 2021. Poseida Therapeutics’ Chief Executive Officer, Eric Ostertag, M.D., Ph.D. presented the company virtually.

New appointment

On March 23, 2021,  Poseida Therapeutics Inc. appointed the distinguished scientist Carl June, M.D., to chair Poseida’s Scientific Advisory Board (SAB).

Financial results

On March 11, 2021, Poseida Therapeutics, Inc. announced financial results for the fourth quarter and the full-year ended December 31, 2020.

Q4 2020 financial highlights

  • Q4 2020General and administrative expenses were $7.5 million compared to $4.0 million for the same period in 2019.
  • Research and development expenses were $27.9 million for the fourth quarter ended December 31, 2020, compared to $19.2 million for the same period in 2019.

FY-2020 financial highlights

  • Poseida Therapeutics suffered a net loss of $129.8 million for the full year ended December 31, 2020, compared to $86.5 million in 2019.
  • General and administrative expenses were $23.0 million for FY 2020 compared to $18.5 million for 2019.
  • Research and development expenses were $103.5 million for FY 2020, compared to $60.4 million for the same period in 2019.
  • Poseida Therapeutics had cash, cash equivalents, and marketable securities of $309.2 million as of December 31, 2020.

Clinical and pre clinical pipeline progress update

On Feb. 24, 2021, Poseida Therapeutics, Inc. highlighted its clinical and preclinical pipeline progress during a virtual R&D Day held on February 24, 2021.

The company showcased an early look at the ongoing P-PSMA-101 clinical trial. It also demonstrated the potential for single treatment cures with a completely non-viral nanoparticle-based gene therapy system.

Conclusion

There is no recent news to justify its price fluctuation on Friday. The Monday stock performance can either be negative or positive because we are unable to predict it as there is no latest news about the company.

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