LOS ANGELES, Aug. 20, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Poseida Therapeutics, Inc. ("Poseida Therapeutics" or the "Company") (NASDAQ: PSTX) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 10, 2020, Poseida completed its initial public offering (“IPO”), issuing 14 million shares of common stock with a price of $16.00 per share. On August 18, 2020, it was disclosed by Poseida that a clinical hold was placed on Poseida’s Phase 1 clinical trial evaluating the autologous CAR-T therapy P-PSMA-101 in patients with metastatic castration-resistant prostate cancer by the U.S. Food and Drug Administration (“FDA”). This hold was placed on the trial by the FDA in order to investigate a patient death that occurred in late July. Poseida’s stock price fell $3.94 per share, or 30.31%, on this news, closing at $9.06 per share on August 18, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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