Why Poseida Therapeutics (PSTX) Shares Are Trading Higher Premarket Today - Roche Holding (OTC:RHHBF), Roche Holding (OTC:RHHVF)

Poseida Therapeutics Inc PSTX has entered into a strategic collaboration and license agreement with Roche Holdings AG RHHBY, focused on developing allogeneic CAR-T therapies directed to hematologic malignancies.
The collaboration covers the research and development of multiple existing and novel "off-the-shelf" cell therapies against targets in multiple myeloma, B-cell lymphomas, and other hematologic indications.
Under the agreement, Roche will receive from Poseida either exclusive rights or options to develop and commercialize several allogeneic CAR-T programs in Poseida's portfolio.
Poseida's P-BCMA-ALLO1, an allogeneic CAR-T for multiple myeloma, is in Phase 1 study, and P-CD19CD20-ALLO1, an allogeneic dual CAR-T for B-cell malignancies with an IND, expected in 2023.
For a subset of the Poseida portfolio programs licensed or optioned to Roche, Poseida will conduct the Phase 1 studies and manufacture clinical materials before transitioning the programs to Roche for further development and commercialization.
Roche will be solely responsible for the late-stage clinical development and global commercialization.
Poseida will receive $110 million upfront and could receive up to $110 million in near-term milestones.
In addition, Poseida is eligible to receive up to $6 billion in milestone payments.
Price Action: PSTX shares are up 60.10% at $3.89 during the premarket session on the last check Wednesday.

Poseida Shares Rally As Roche Takes Next Big Step Into Allogeneic CAR-T Field