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Mar 31, 2023
Gossamer Bio Q1 2023 Earnings Report
Gossamer Bio reported financial results for Q1 2023 and provided a business update.
Key Takeaways
Gossamer Bio announced its Q1 2023 financial results, reporting a net loss of $49.2 million, or $0.52 per share. The company had $201.9 million in cash, cash equivalents, and marketable securities as of March 31, 2023. They are focusing on the development of seralutinib for PAH treatment and expect to initiate a Phase 3 clinical trial in Q3 2023.
Received feedback from FDA and EMA on planned registrational program for seralutinib following Phase 2 TORREY study.
Registrational Phase 3 clinical trial in PAH patients expected to initiate in Q3 2023.
Initial TORREY study open-label extension data expected mid 2023.
Implemented operational restructuring to prioritize seralutinib development.
Forward Guidance
Gossamer Bio anticipates initiating a Phase 3 clinical trial for seralutinib in Q3 2023 and expects current cash, cash equivalents, and marketable securities to fund operations for at least the next 12 months.
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