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Dec 31, 2023
Gossamer Bio Q4 2023 Earnings Report
Announced financial results for the fourth quarter and year ended December 31, 2023, and provided a business update.
Key Takeaways
Gossamer Bio reported a net loss of $48.1 million for the quarter ended December 31, 2023, with cash, cash equivalents, and marketable securities totaling $296.4 million at year-end. The first PAH patient was dosed in the Phase 3 PROSERA study, and Japan was included in the study following CTN acceptance by PMDA.
First PAH patient dosed in the ongoing registrational Phase 3 PROSERA Study.
Inclusion of Japan in Phase 3 PROSERA Study following CTN acceptance by PMDA.
Cash, cash equivalents and marketable securities totaled $296.4 million at year-end 2023.
Topline results from the PROSERA Study are expected in the fourth quarter of 2025.
Gossamer Bio
Gossamer Bio
Forward Guidance
Gossamer anticipates data readout from the Phase 3 PROSERA Study and is planning to commence a clinical development program in PH-ILD. The company may file a commercial marketing application in Japan pending clinical data and expects current resources to fund operations into the first half of 2026.
Positive Outlook
- Anticipated timing of a data readout from our Phase 3 PROSERA Study
- Expectations on commencing a clinical development program in PH-ILD
- The ability to file a commercial marketing application in Japan pending clinical data
- Expected timeframe for funding our operating plan with current cash, cash equivalents and marketable securities.
Challenges Ahead
- Potential delays in the commencement, enrollment and completion of clinical trials
- Disruption to our operations from pandemics, including clinical trial delays
- The Company’s dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing
- The results of preclinical studies and early clinical trials are not necessarily predictive of future results
- The success of Gossamer’s clinical trials and preclinical studies for seralutinib