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Jun 30, 2020
Gossamer Bio Q2 2020 Earnings Report
Announced financial results for the second quarter 2020 and provided a corporate update.
Key Takeaways
Gossamer Bio reported a net loss of $66.9 million for the second quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $600.4 million as of June 30, 2020, which is expected to fund operations into 2024.
Phase 2 studies for GB001 in eosinophilic asthma and chronic rhinosinusitis are on track for topline data readout in the second half of 2020.
Phase 2 TORREY study for GB002 in pulmonary arterial hypertension is expected to commence in the second half of 2020.
Phase 2 SHIFT-UC study for GB004 in ulcerative colitis is expected to commence in the second half of 2020.
Cash, cash equivalents, and marketable securities totaled $600.4 million as of June 30, 2020.
Forward Guidance
Gossamer Bio anticipates several milestones across its clinical programs and expects current resources to fund operations into 2024.
Positive Outlook
- Phase 2b LEDA study in eosinophilic asthma on track for topline data in H2 2020
- Phase 2 TITAN study in chronic rhinosinusitis on track for topline data in H2 2020
- Phase 2 TORREY study in pulmonary arterial hypertension expected to commence in H2 2020
- Phase 2 SHIFT-UC study in ulcerative colitis expected to commence in H2 2020
- Further Phase 1 data from KEYNOTE-A36 expected in Q4 2020
Challenges Ahead
- COVID-19 related delays in study enrollment for GB002
- Potential delays in commencement, enrollment, and completion of clinical trials
- Dependence on third parties for manufacturing, research, and testing
- Risk of unexpected adverse side effects or inadequate efficacy of product candidates
Historical Earnings Impact
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