SAN
DIEGO, April 1, 2024 /PRNewswire/ -- Poseida
Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage cell and gene
therapy company advancing a new class of treatments for patients
with cancer and rare diseases, today announced that the
Compensation Committee of its Board of Directors granted an
inducement award to Syed Rizvi,
M.D., the Company's new Chief Medical Officer. This grant is made
pursuant to the Company's 2022 Inducement Plan as an inducement
material to Dr. Rizvi entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement award is comprised of (i) a stock option to
purchase 250,000 shares of the Company's common stock with a per
share exercise price equal to the fair market value of the
Company's common stock on the grant date and will be subject to
vesting over four years, with 12.5% of the shares vesting on the
six-month anniversary of the grant date, and the remainder vesting
monthly over the following forty-two (42) months, subject to the
employee's continued employment and the terms and conditions of the
stock option agreement; and (ii) a restricted stock unit award
covering 185,000 shares of the Company's common stock and will be
subject to vesting over four years, with 25% of the shares vesting
on the one year anniversary of the grant date, and the remainder
vesting in a series of three equal successive annual installments
on the second, third, and fourth anniversaries of the grant date,
subject to the employee's continued employment and the terms and
conditions of the restricted stock unit award agreement.
About Poseida Therapeutics, Inc.
Poseida Therapeutics
is a clinical-stage biopharmaceutical company advancing
differentiated cell and gene therapies with the capacity to cure
certain cancers and rare diseases. The Company's pipeline includes
allogeneic CAR-T cell therapy product candidates for both solid and
liquid tumors as well as in vivo gene therapy product candidates
that address patient populations with high unmet medical need. The
Company's approach to cell and gene therapies is based on its
proprietary genetic editing platforms, including its non-viral
piggyBac® DNA Delivery System, Cas-CLOVER™ Site-Specific
Gene Editing System, Booster Molecule, and nanoparticle and hybrid
gene delivery technologies as well as in-house GMP cell therapy
manufacturing. The Company has formed a global strategic
collaboration with Roche to unlock the promise of cell therapies
for patients with hematological malignancies. Learn more at
www.poseida.com and connect with Poseida on X and
LinkedIn.
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SOURCE Poseida Therapeutics, Inc.
