By Mark R. LongPoseida Therapeutics rose after the biopharmaceutical company posted a smaller-than-expected loss in the second quarter and reported progress in its partnerships with Roche Holding and Astellas Pharma. Poseida reported a second-quarter net loss of $31.4 million, or 32 cents. Analysts polled by FactSet had forecast a net loss of $40.7 million, and a per-share loss of 41 cents. Poseida also said it made progress in its collaboration with Astellas' Xyphos Biosciences unit, with the nomination of the first high-potential program target. In the second quarter Poseida got a $50 million upfront payment related to the initiation of this agreement.

Source: Wall Street Journal August 06, 2024 04:50 UTC