Biotech Soars on Research Collaboration And License Agreement Release

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, May 1, 2024

A California-based biotech company is turning heads on Wednesday after it announced that it entered into a research collaboration and license agreement with Astellas Pharma’s Xyphos Biosciences subsidiary.

Shares of Poseida Therapeutics Inc. (Nasdaq:PSTX) rallied strongly on Wednesday following the announcement, with traders pushing shares of the small cap up to $3.00/share (+23.97%) at the session high. This move is a strong continuation of the success this stock found during the back half of April.

Poseida Therapeutics Inc is a clinical-stage biopharmaceutical company focused on leveraging non-viral gene engineering technologies to create life-saving therapeutics for patients with a high unmet delivery technology. It has built a pipeline of autologous and allogeneic chimeric antigen receptor T cell, or CAR-T, product candidates, initially focused on the treatment of hematological malignancies and solid tumours.

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Comtech Telecommunications Corp. was a technical “one to watch” on Wednesday. Shares moved 8.47%, settling at $2.69 as the stock provided technicians with a Golden Cross (50 DMA / 200 DMA) technical signal.

Black Iron Inc. was an impressive gainer on the Toronto Stock Exchange on Wednesday. Shares climbed 122.22%, settling at $0.1.

Wednesday's largest penny Stock gainer on the OTC Markets was Athena Bitcoin Global, which rallied 107.55%, closing at $0.11.

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Biotech Soars on Research Collaboration And License Agreement Release

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