Poseida Therapeutics files for IPO
Poseida Therapeutics has filed for an initial public offering, seeking to raise up to $115 million, according to a securities filing with regulators on Friday. The biotech company is working on a form of personalized immunotherapy for the treatment of cancer called CAR-T, or chimeric antigen receptor T cell therapy, with hopes to address some the current limitations of current CAR-T therapies. Poseida listed losses of $31.51 million for the nine months ended September 2018, compared with a loss of $14.87 million in the same period in 2017. The underwriters are Citigroup, Credit Suisse and Wells Fargo Securities. The company plans to list its shares on the Nasdaq Stock Exchange under the symbol "PSTX." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.