Gossamer Bio Stock Price, News & Analysis

Gossamer Bio reported its financial results for Q4 and full year 2022, highlighting a net loss of $55.8 million or $0.59 per share in Q4, and a full-year net loss of $229.4 million or $2.71 per share. Cash, cash equivalents, and marketable securities were $256 million, expected to sustain operations into the second half of 2024. The company plans to initiate a Phase 3 clinical trial for Seralutinib (GB002) in pulmonary arterial hypertension in H2 2023, while enrollment in the Phase 1b/2 GB5121 CNS study is paused.

Gossamer Bio announced promising topline results from the TORREY Phase 2 study of seralutinib in treating pulmonary arterial hypertension (PAH). The primary endpoint, change in pulmonary vascular resistance (PVR) at Week 24, was met with a statistically significant P-value of 0.0310. Secondary endpoints also favored seralutinib, particularly in patients classified as WHO Functional Class III, showing a 21% reduction in PVR and a 37-meter improvement in six-minute walk distance (6MWD). Seralutinib exhibited a favorable safety profile, with most adverse events being mild to moderate.

Gossamer Bio reported its financial results for Q3 2022, highlighting a cash position of $304.4 million as of September 30, 2022. The Phase 2 TORREY Study for Seralutinib, targeting pulmonary arterial hypertension, is on schedule for topline results by December 2022. R&D expenses rose to $44.5 million from $43.2 million year-over-year, while G&A expenses decreased to $11.5 million. The net loss narrowed to $59.4 million or $0.65 per share compared to the previous year. Gossamer expects existing resources to fund operations into Q2 2024.

Gossamer Bio, Inc. (Nasdaq: GOSS) reported financial results for Q2 2022, highlighting a net loss of $56.5 million ($0.74 per share), improved from $59.8 million ($0.80 per share) in Q2 2021. As of June 30, 2022, the company had $342 million in cash and equivalents, bolstered by a $120 million private placement in July 2022. Upcoming milestones include topline data from the Phase 2 TORREY Study on seralutinib, expected by year-end, and the initiation of a Phase 3 clinical program in Q3 2023. Additionally, the first patient has been dosed in the Phase 1b/2 STAR CNS Study for GB5121.

Gossamer Bio, Inc. (NASDAQ: GOSS) announced a private placement of approximately 16.6 million shares at $7.21 each, expecting gross proceeds of around $120 million before expenses. This financing, closing on July 15, 2022, involves new and existing institutional investors, all participating under lock-up agreements. The funds will support the seralutinib program and other R&D efforts, with sufficient funds anticipated to cover operating expenses into mid-2024. The company plans to file for resale registration with the SEC, as the shares have not been registered under the Securities Act.

Gossamer Bio, Inc. (NASDAQ: GOSS) announces the publication of preclinical data on seralutinib for pulmonary arterial hypertension (PAH) in the European Respiratory Journal. The article highlights seralutinib's potential efficacy in treating PAH, with expectations for topline results from the Phase 2 TORREY Study to be released in Q4 this year. CEO Faheem Hasnain expressed enthusiasm for the recognition of their work in a prestigious journal, signaling a pivotal moment for the company's ongoing research.

Gossamer Bio announced the completion of patient enrollment in the Phase 2 TORREY Study for Seralutinib (GB002), targeting pulmonary arterial hypertension. Topline results are expected in Q4 2022. As of March 31, 2022, Gossamer reported cash, cash equivalents, and marketable securities of $272 million, extending its capital runway into H1 2024. R&D expenses rose slightly to $42.3 million, and net loss was $57.8 million, or $0.76 per share, compared to a loss of $57.6 million, or $0.78 per share, in the year prior.

Gossamer Bio announced the termination of its Phase 2 SHIFT-UC Study of GB004 for ulcerative colitis, as neither treatment arm met primary or secondary endpoints at week 12. The study enrolled 236 participants but showed no meaningful clinical benefit. However, Gossamer is advancing its Phase 2 TORREY Study of seralutinib in pulmonary arterial hypertension, with topline results expected in Q4 2022. As of March 31, 2022, Gossamer reported approximately $272 million in cash, cash equivalents, and marketable securities.

Gossamer Bio reported a net loss of $234 million for the full year 2021, or $3.13 per share, an improvement over 2020's loss. Cash and equivalents totaled $325 million, sufficient to fund operations into late 2023. Two Phase 2 trials, GB004 for ulcerative colitis and Seralutinib for pulmonary arterial hypertension, are ongoing, with results expected in 2022. R&D expenses rose to $170.3 million for 2021, driven by clinical trials. The company plans a conference call for March 3 to discuss its financial results and updates.