SAN DIEGO - Poseida Therapeutics, Inc. (NASDAQ:PSTX), a biopharmaceutical company specializing in cell and gene therapies, announced today that new data from a Phase 1 study of its P-BCMA-ALLO1 program showed promising results for patients with relapsed/refractory multiple myeloma.
The study found that 60% of patients who had previously progressed after BCMA-targeted therapy responded to P-BCMA-ALLO1, an investigational allogeneic CAR-T therapy.
The data, presented at the American Association for Cancer Research (AACR) Annual Meeting 2024, revealed that the treatment was well-tolerated, with no dose-limiting toxicities or severe cases of cytokine release syndrome (CRS) or immune effector cell neurotoxicity syndrome (ICANS).
Three out of five patients achieved a very good partial response (VGPR) to P-BCMA-ALLO1, including one patient who maintained a response for over four months.
P-BCMA-ALLO1 is designed to be an off-the-shelf therapy, manufactured from healthy donor T-cells, and targets the B-cell maturation antigen (BCMA). The therapy has been granted Orphan Drug Designation by the U.S. Food and Drug Administration for the treatment of multiple myeloma.
In addition to the findings on P-BCMA-ALLO1, Poseida presented a new data analysis on optimizing lymphodepletion regimens for CAR-T therapies. The analysis suggested that higher doses of cyclophosphamide may be required for patients with solid tumors to achieve adequate lymphodepletion compared to those with multiple myeloma.
The company also continues to evaluate P-MUC1C-ALLO1, another investigational allogeneic CAR-T therapy, for the treatment of multiple solid tumor indications. Poseida plans to share more comprehensive datasets on both BCMA and MUC1-C programs later in the year.
The Phase 1 study of P-BCMA-ALLO1 is ongoing, with more information available on the clinicaltrials.gov website under the identifier NCT04960579. The study for P-MUC1C-ALLO1, targeting various solid tumors, is also listed on clinicaltrials.gov with the identifier NCT05239143.
These developments underscore Poseida's commitment to advancing new treatments for cancer, focusing on cell and gene therapy innovations. The information reported is based on a press release statement from Poseida Therapeutics.
InvestingPro Insights
Poseida Therapeutics, Inc. (NASDAQ:PSTX) has been making strides with its innovative therapies, as evidenced by the recent promising data from its Phase 1 study. While the clinical results are encouraging, a glance at the company's financial health and market performance through InvestingPro provides a broader perspective for investors.
InvestingPro Data indicates that Poseida Therapeutics holds a market capitalization of $289.95 million. The company's revenue for the last twelve months as of Q4 2023 was reported at $64.7 million, although it experienced a significant revenue decline of -50.42% during the same period. This could reflect the challenges inherent in the biopharmaceutical sector, especially for companies focusing on the development of new therapies.
The company's P/E ratio stands at -2.33, suggesting that investors are anticipating future growth despite current losses. Additionally, the gross profit margin was reported at -142.29%, which points to the costs exceeding revenues—a common occurrence in the biotech industry during the development phase.
InvestingPro Tips for Poseida Therapeutics reveal that the company holds more cash than debt on its balance sheet, which is a positive sign of financial stability. However, analysts have highlighted concerns such as a rapid cash burn and expectations of a sales decline in the current year. These insights, along with the anticipation that the company will not be profitable this year, are crucial for investors to consider when evaluating the potential risks and rewards associated with Poseida's stock.
For those considering an investment in Poseida Therapeutics, it's important to note that the company has not paid dividends to shareholders, reflecting its focus on reinvesting earnings into research and development. Despite recent challenges, including a poor stock performance over the last month, Poseida has experienced a large price uptick over the last six months, which may interest investors looking for growth potential in the biotech sector.
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