Poseida tees $150M IPO; Gilead sends HBV program back to Precision; New HIV data from Merck, Gilead
→ Joining the long list of biotechs to aim for a large pandemic IPO, Poseida Therapeutics set terms for a $150 million offering, priced at $14-$16 per share. The Novartis-backed oncology biotech had originally filed for a $115 million IPO last year but scrapped the plan, raising $142 million in a Series C. They filed again in June and listed the same goal before adjusting upwards.
→ Two years after announcing an up-to $445 million collaboration. Precision Biosciences has regained rights to its hepatitis B program from Gilead. The deal, signed under the old John McHutchison regime at Gilead, was meant to use Precision’s nucleases to clear HBV in vivo. Precision said it would look for new partners for their HBV program.
→ Merck and Gilead each announced new data from new experimental HIV treatments. Merck said its pill islatravir proved safe and effective in a Phase IIb trial when used in combination with another antiviral. Gilead said its new long-acting reverse-transcriptase inhibitor lenacapavir was safe and stayed at therapeutic levels in patients through 6 months.