California-Based Biotech Trading over +200% Premarket Following Acquisition Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, November 26, 2024

A California-based biotech company is already stealing the show so far during Tuesday’s premarket hours after it was announced that the company will be acquired by Roche in a $1.5 billion deal, with stockholders receiving up to $13 per share in cash.

Seeing that Poseida Therapeutics Inc. (Nasdaq:PSTX) closed at just $2.86/share yesterday, it’s no wonder that traders are rushing to get their hands on the small cap. At the time of writing, traders are currently bid at $9.36/share (+227.27% implied open for sellers). It should be an exciting session for this healthcare stock!

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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California-Based Biotech Trading over +200% Premarket Following Acquisition Announcement

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