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Mar 31, 2022
Gossamer Bio Q1 2022 Earnings Report
Announced financial results for the first quarter ended March 31, 2022 and provided a business update.
Key Takeaways
Gossamer Bio reported a net loss of $57.8 million for the first quarter of 2022. The company's cash, cash equivalents, and marketable securities totaled $271.6 million as of March 31, 2022. Enrollment has completed in the ongoing TORREY Study, a Phase 2 clinical trial in patients with PAH.
Seralutinib (GB002) completed PAH patient enrollment in Phase 2 TORREY Study
Topline results from Phase 2 TORREY Study expected in the fourth quarter of 2022
Cash, cash equivalents & marketable securities totaled $272 million as of March 31, 2022
Expected capital runway further extended into the first half of 2024 through a recent internal reprioritization and the implementation of certain cost containment measures
Gossamer Bio
Gossamer Bio
Forward Guidance
Gossamer Bio expects the combination of current cash, cash equivalents and marketable securities, and access to its debt facility will be sufficient to fund its operating and capital expenditures into 2024.