Poseida Therapeutics, a phase 2 biotech developing CAR T cell therapies for multiple myeloma, raised the proposed deal size for its upcoming IPO on Thursday.
The San Diego, CA-based company now plans to raise $224 million by offering 14 million shares at a price range of $16 to $16. The company had previously filed to offer 10 million shares at a range of $14 to $16. At the midpoint of the revised range, Poseida Therapeutics will raise 49% more in proceeds than previously anticipated.
Poseida Therapeutics was founded in 2003 And booked n/a in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol PSTX. BofA Securities, Piper Sandler and William Blair are the joint bookrunners on the deal. It is expected to price during the week of July 6, 2020.
