Malin Corporation - Poseida: impressive clinical data support big trade sale/IPO exit potential for Malin

Davy Research
/Read Important Disclosures

Clinical data presented by Poseida at the major oncology conference ASH support the ‘best-in-class’ credentials of its CAR-T product. Impressive efficacy and safety were demonstrated, with its safety profile in particular comparing favourably versus peers. The data reinforce our view that a trade sale/listing of Poseida is on track for 2019, where we think Malin can achieve a significant return – c.60% greater than its current market cap. Poseida is one of Malin’s four priority assets that underpin our €15.50 price target.