By Sabela Ojea

Shares of Poseida Therapeutics on Monday climbed after the company said it received positive early results from the phase 1 trial for a blood cancer treatment.

At 9:43 a.m. ET, shares were up 21% at $3.83. The stock has, however, dropped 75% in the past 12 months.

The clinical-stage cell and gene therapy company said its early P-BCMA-ALLO1 clinical results inspire it to further develop the treatment for relapsed-refractory multiple myeloma in partnership with Roche.

Last year, Poseida said it signed a strategic collaboration with the biotechnology company Roche.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 11, 2023 10:16 ET (15:16 GMT)

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