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Sep 30, 2024
Gossamer Bio Q3 2024 Earnings Report
Gossamer Bio's financial performance and business progress were detailed for Q3 2024.
Key Takeaways
Gossamer Bio reported $327 million in cash, cash equivalents and marketable securities as of September 30, 2024. Revenue from contracts with collaborators was $9.5 million. R&D expenses were $34.9 million, and G&A expenses were $8.5 million. The net loss for the quarter was $30.8 million, or $0.14 per share.
Cash, cash equivalents, and marketable securities totaled $327.0 million as of September 30, 2024.
Revenue from contracts with collaborators was $9.5 million for the quarter ended September 30, 2024.
R&D expenses were $34.9 million for the quarter ended September 30, 2024.
Net loss for the quarter ended September 30, 2024, was $30.8 million, or $0.14 basic net loss per share.
Gossamer Bio
Gossamer Bio
Forward Guidance
Gossamer Bio anticipates a pivotal year in 2025 with Phase 3 PROSERA Study results in PAH and the commencement of a Phase 3 study in PH-ILD.
Positive Outlook
- Expect 2025 to be an exceptionally important year.
- Anticipate Phase 3 PROSERA Study results in PAH.
- Commence PH-ILD Phase 3 study.
- Completing PROSERA Study enrollment.
- Designing the registrational Phase 3 PH-ILD clinical trial.
Challenges Ahead
- Potential delays in the commencement, enrollment and completion of clinical trials
- Disruption to operations from the COVID-19 pandemic, including clinical trial delays
- Dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing
- Unexpected adverse side effects or inadequate efficacy of seralutinib that may limit their development, regulatory approval and/or commercialization, or may result in clinical holds, recalls or product liability claims
- Unstable market and economic conditions and adverse developments with respect to financial institutions and associated liquidity risk may adversely affect our business and financial condition and the broader economy and biotechnology industry