Gossamer Bio, Inc. - GOSS STOCK NEWS

Gossamer Bio, Inc. (GOSS) to Initiate Phase 3 PROSERA Study in PAH Patients, Expects Additional Data from TORREY Open-Label Extension. $374 Million in Cash, Cash Equivalents & Marketable Securities as of June 30, 2023

Gossamer Bio, Inc. (Nasdaq: GOSS) announced a conference call with PAH experts to discuss the upcoming PROSERA Phase 3 study and an interim update of the Phase 2 TORREY open-label extension for the treatment of pulmonary arterial hypertension (PAH). The call will be held on Tuesday, July 25th at 10 a.m. EDT. Investors and analysts can access the live audio webcast through the company's website or via phone. The discussion will feature world-renowned PAH key opinion leaders, Dr. Ray Benza, Dr. Ardi Ghofrani, and Dr. Jim White.

Gossamer Bio, Inc. has entered into a securities purchase agreement to sell securities in a private placement for gross proceeds of approximately $212 million. The financing includes participation from new and existing institutional investors. The company plans to use the net proceeds to fund the ongoing development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH).

Gossamer Bio, Inc. (Nasdaq: GOSS) announced that data from its Phase 2 TORREY Study of seralutinib in patients with pulmonary arterial hypertension (PAH) will be presented at the American Thoracic Society 2023 International Conference. The results were positive, leading Gossamer to plan a Phase 3 clinical trial in the third quarter of 2023.

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.