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Company Overview
Gossamer Bio, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, acquisition, development, and commercialization of novel therapeutic candidates. The company is strategically positioned in the fields of immunology, inflammation, and oncology, utilizing an asset-rich in-licensing model that leverages the deep experience of its founding team. This approach focuses on targeting high unmet needs among patient populations with conditions that are complex and challenging to manage, ensuring that Gossamer Bio remains relevant in addressing critical healthcare issues.
Core Business Areas
The company’s operations are centered on identifying and advancing therapeutic candidates that address key disease mechanisms such as cellular overgrowth, fibrosis, and dysregulated vascular remodeling. By focusing on immunology, inflammation, and oncology, Gossamer Bio develops treatments aimed at conditions including pulmonary arterial hypertension, inflammatory bowel diseases like ulcerative colitis and Crohn’s disease, specific oncology indications, and moderate-to-severe respiratory conditions such as eosinophilic asthma. Its expert research and development team capitalizes on proven methodologies in drug discovery, ensuring that each candidate is backed by comprehensive preclinical and clinical evaluation.
Gossamer Bio (GOSS) reported strong Q2 2024 financial results, highlighting a cash position of $354.5 million as of June 30, 2024. The company's focus remains on developing seralutinib for PAH and PH-ILD treatment. Key developments include:
1. Ongoing enrollment in the PROSERA Study, a Phase 3 trial for PAH, with topline results expected in Q4 2025.
2. Plans to start a Phase 3 trial for PH-ILD in mid-2025.
3. A collaboration with Chiesi Group for seralutinib development and commercialization.
4. Q2 revenue of $95.9 million, including $88.8 million from license sales.
5. Net income of $49.2 million, or $0.22 per share, compared to a net loss in Q2 2023.
The company expects its current cash position to fund operations into the first half of 2027.
Gossamer Bio (Nasdaq: GOSS), a clinical-stage biopharmaceutical firm, has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). The Compensation Committee of Gossamer's Board approved non-qualified stock options for a new non-executive employee, effective June 5, 2024. The grant includes options to purchase up to 170,000 shares at an exercise price of $0.57 per share, equivalent to the closing price on the Nasdaq Global Select Market on that date. These options have a ten-year term and will vest over four years: 25% after one year, with the remaining shares vesting in 36 monthly installments. These inducement awards aim to attract new talent under Gossamer's 2023 Employment Inducement Incentive Award Plan.
Gossamer Bio (Nasdaq: GOSS), a clinical-stage biopharmaceutical company, will present updated data on seralutinib at the American Thoracic Society 2024 International Conference from May 17-22 in San Diego.
The presentations will include interim results from the Phase 1B and Phase 2 TORREY open-label extension study in pulmonary arterial hypertension (PAH) and additional data on circulating biomarkers, inflammation, and fibrosis. The main presentation will be on May 19 by Dr. Olivier Sitbon.
Gossamer Bio, Inc. (NASDAQ: GOSS) granted non-executive employees stock options under the 2023 Inducement Plan. The options allow the purchase of up to 323,000 shares at $0.755 per share, vesting over four years. This grant aims to incentivize and retain new employees in accordance with Nasdaq rules.
Gossamer Bio, Inc. (Nasdaq: GOSS) announced its first quarter 2024 financial results and business update. The company reported $396 million in cash, pro forma for a $160 million reimbursement payment and debt repayment. They are collaborating with Chiesi for seralutinib development and co-commercialization. The PROSERA Phase 3 study for PAH is ongoing, with top-line results expected in Q4 2025. A registrational Phase 3 study for PH-ILD is set to begin in mid-2025. TORREY Phase 2 PAH results were published in Lancet Respiratory Medicine, with additional data to be presented at ATS in May.
Gossamer Bio and Chiesi Group have announced a global collaboration to develop and commercialize Seralutinib for pulmonary hypertension. Gossamer will receive development reimbursement and milestones payments, leading the US commercialization activities. Chiesi obtains exclusive ex-US commercial rights with Gossamer receiving royalties on net sales. A Phase 3 trial of Seralutinib in PH-ILD is planned for mid-2025.
Gossamer Bio, Inc. announced the publication of the TORREY Phase 2 study results in the Lancet Respiratory Medicine, showcasing the positive impact of seralutinib in treating pulmonary arterial hypertension. The study demonstrated significant improvements in pulmonary vascular resistance and other key disease measures. This milestone sets the stage for the Phase 3 PROSERA Study, highlighting the potential of seralutinib to enhance the quality of life for PAH patients.
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