BTIG Reiterates Buy Rating on Poseida Therapeutics, Inc (PSTX)

BTIG analyst Justin Zelin reiterated a Buy rating and $12.00 price target on Poseida Therapeutics, Inc (NASDAQ: PSTX).

The analyst comments "PSTX reported updated data for P-BCMA-ALLO-1 at the IMS Conference this weekend. The early data from Arm C of the study with higher lymphodepletion (LD) showed a competitive efficacy profile, tracking with BCMA auto CAR-T and bispecifics, with median follow up less than 3.5 mos and a compelling safety profile. The 91% ORR and 22% sCR/CR rate is even more impressive considering the 6 median prior lines and 62% prior BCMA therapy exposure for Arm C pts, which appears among the most refractory pt population seen in r/r MM cell therapy and bispecifc trials. Durability will be the key metric to follow to assess where P-BCMA-ALLO-1 program will land in the myeloma treatment algorithm. With the updated encouraging data we see the program making cell therapy more accessible in earlier lines and could be used ahead of bispecifics for CAR-T relapsed patients. Ph 1b expansion is underway with the Arm C LD regimen. PSTX is also evaluating higher cell doses and repeat dosing to further enhance the efficacy profile. We look ahead to another update from this program in 2H24, potentially at ASH."

For an analyst ratings summary and ratings history on Poseida Therapeutics, Inc click here. For more ratings news on Poseida Therapeutics, Inc click here.

Shares of Poseida Therapeutics, Inc closed at $2.90 yesterday.

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