Poseida Therapeutics Ushers New Era For Gene Therapies, Analyst Initiating Coverage Says

  • HC Wainwright has initiated coverage on Poseida Therapeutics Inc PSTX with a Buy rating and a price target of $15.
  • Poseida is a clinical-stage biopharmaceutical company focused on developing cell and gene therapies based on its proprietary platforms, including piggyBac, Cas-CLOVER, and nanoparticle technologies.
  • The analyst writes that Poseida’s piggyBac and Cas-CLOVER technologies could potentially address the issues with current autologous CART therapies, such as severe toxicities, limited efficacy in solid tumors, and high manufacturing cost. 
  • HC Wainwright also writes that current mainstream adeno-associated virus (AAV)- based in vivo gene therapy has multiple shortcomings. Hence combining piggyBac and nanoparticles could potentially deliver a virus-free, safe, and durable in vivo gene therapy and expand indications and patient populations.
  • Although Poseida’s in vivo gene therapy pipeline is still preclinical, the analyst says the promising data from P-OTC-101 and P-FVIII-101 programs provide proof of concept that an in vivo gene therapy based on piggyBac and nanoparticle platforms could deliver durable efficacy, even in a juvenile patient population. 
  • The company’s wholly-owned P-OTC-101 program is expected to enter human trials in early 2024.
  • Price Action: PSTX shares are up 15.4% at $6.68 on the last check Wednesday.
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