Poseida Therapeutics reports Q3 EPS (35c), consensus (29c)

Reports Q3 revenue $9.4M, consensus $18.87M. “In the third quarter, we continued to execute on our key priorities for 2023 while strengthening our financial position with a $50M strategic investment from Astellas that closed in August 2023. Additionally, we have made strong progress in our Roche Collaboration, accelerating certain milestone payments,” said Mark Gergen, CEO of the company. “With the recent announcement of my upcoming transition to the role of Executive Chairman on January 1, 2024, I am excited about the future of Poseida under the leadership of Kristin Yarema, Ph.D., who will assume the role of President and CEO.” Based upon substantial progress in its P-BCMA-ALLO1 and P-CD19CD20-ALLO1 programs, the company is announcing today that certain payments as well as the expected timing of achievement of upcoming milestones, have been accelerated to reflect progress in the programs and better align with expected upcoming further clinical development and manufacturing needs and timelines. Poseida may also receive additional funding and resources for select expanded research, clinical development, and manufacturing activities under the existing Roche Collaboration Agreement. As a result of this progress, the company expects to receive certain payments sooner and/or with more certainty than originally anticipated.