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Cancer drug developer Poseida Therapeutics files for Nasdaq IPO

San Diego-based Poseida Therapeutics Inc. filed for an IPO of its common stock.

Poseida Therapeutics uses gene engineering technologies to create therapeutics for patients with high unmet medical need. Its pipeline includes chimeric antigen receptor T cell, or CAR-T, product candidates, initially focused on the treatment of hematological malignancies and solid tumors. CAR-T therapy, pioneered by Novartis AG's Kymriah, involves re-engineering a patient's immune cells to attack tumors.

The company applied to list its common stock on the Nasdaq Global Market under the symbol PSTX.

Poseida Therapeutics will grant underwriters an option to buy additional common shares.

Proceeds will help fund the ongoing development of P-BCMA-101, the company's autologous CAR-T product candidate for multiple myeloma that has returned or is resistant to treatment. Funds will also go toward Poseida Therapeutics' CAR-T and gene therapy platforms, as well as working capital and other general corporate purposes.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are acting as joint book-running managers and the underwriters' representatives for the proposed IPO.