POSEIDA THERAPEUTICS, INC. Item 1.02 Termination of a Material Definitive Agreement.
On
The Collaboration Agreement was terminated by Takeda following strategic decisions in its research priorities to pivot from discovery and preclinical efforts in adeno-associated virus gene therapy, alongside research and preclinical work in rare hematology. Until the Termination Date, the parties will continue to perform their respective obligations under the Collaboration Agreement. Upon the Termination Date, the Company's exclusivity obligations under the Collaboration Agreement will terminate. In addition, the licenses granted to Takeda by the Company, and the licenses granted to the Company by Takeda to perform research activities under the Collaboration Agreement, will each terminate.
The foregoing description of the material terms of the Collaboration Agreement
is qualified in its entirety by reference to the complete text of the
Collaboration Agreement, which the Company filed with the
Item 8.01 Other Events.
As previously disclosed, the Company's cash, cash equivalents and short-term
investments balance as of
Forward-Looking Statements
Statements contained in this Current Report on Form 8-K regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, estimates of the Company's cash balance (and the anticipated impact of the termination of the Collaboration Agreement thereto), expenses, capital requirements, any future revenue, and need for additional financing; expectations concerning the termination and transition process of the Collaboration Agreement; the Company's ability to attract and/or retain new and existing collaborators with development, regulatory, manufacturing and commercialization expertise and its expectations regarding the potential benefits to be derived from such collaborations; expected plans with respect to clinical trials, including timing of regulatory submissions and approvals and clinical data updates; anticipated timelines and milestones with respect to the Company's development programs and manufacturing activities and capabilities; the potential capabilities and benefits of the Company's technology platforms and product candidates; and the Company's plans and strategy with respect to developing its technologies and product candidates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the actual timing of the transition of responsibilities and activities under the Collaboration Agreement and the parties' ability to successfully execute the transition in an orderly fashion; the Company's reliance on third parties for various aspects of its business; risks and uncertainties associated with development and regulatory approval of novel product candidates in the biopharmaceutical industry; the Company's ability to retain key scientific or management
--------------------------------------------------------------------------------
personnel; the fact that the Company will have limited control over the efforts
and resources that its strategic partners devote to advancing development
programs under their respective collaboration agreements and the Company may not
receive the potential fees and payments under the collaboration agreements and
the ability of its strategic partners to early terminate the collaborations,
such that the Company may not fully realize the benefits of such collaborations;
and the other risks described in the Company's filings with the
--------------------------------------------------------------------------------
© Edgar Online, source
