BTIG analyst Justin Zelin downgraded Poseida Therapeutics (PSTX) to Neutral from Buy after Roche (RHHBY) agreed to acquire Poseida for $13 per share in cash, comprised of $9 per share in cash at closing and a non-tradeable contingent value right, or CVR, to receive up to $4 per share in cash upon achievement of specific milestones. The firm views the deal terms as “very favorable to both Poseida shareholders and Roche,” the analyst tells investors.
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