By Sabela Ojea
Shares of Poseida Therapeutics on Monday climbed after the company said it received positive early results from the phase 1 trial for a blood cancer treatment.
At 9:43 a.m. ET, shares were up 21% at $3.83. The stock has, however, dropped 75% in the past 12 months.
The clinical-stage cell and gene therapy company said its early P-BCMA-ALLO1 clinical results inspire it to further develop the treatment for relapsed-refractory multiple myeloma in partnership with Roche.
Last year, Poseida said it signed a strategic collaboration with the biotechnology company Roche.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
12-11-23 1016ET