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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.
Gossamer Bio
Gossamer Bio
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
- Potential for using capital resources sooner than expected