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Dec 31, 2021
Gossamer Bio Q4 2021 Earnings Report
Gossamer Bio announced its financial results and provided a business update.
Key Takeaways
Gossamer Bio reported a net loss of $56.3 million for the fourth quarter of 2021, with cash, cash equivalents, and marketable securities totaling $325.2 million at year-end. The company anticipates these funds, along with access to a debt facility, will sufficiently cover operating and capital expenditures into the second half of 2023. They are also anticipating topline results for their Phase 2 SHIFT-UC and TORREY studies in the second quarter and second half of 2022, respectively.
GB004 topline results for the Phase 2 SHIFT-UC study in mild-to-moderate UC are expected in the second quarter of 2022.
Seralutinib (GB002) topline results for the Phase 2 TORREY study in PAH are expected in the second half of 2022, subject to developments in the ongoing COVID-19 pandemic.
An investigational new drug application (IND) application for GB5121 is now active, following a fourth quarter filing with the U.S. Food and Drug Administration (FDA).
Cash, cash equivalents and marketable securities totaled $325.2 million at year-end 2021.
Forward Guidance
Gossamer Bio expects to have sufficient funds to cover operating and capital expenditures into the second half of 2023.
Historical Earnings Impact
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