Press release
Gossamer Bio Announces Second Quarter 2023 Financial Results and Provides Business Update
- Seralutinib Phase 3 PROSERA Study in PAH Patients Expected to Initiate in 3Q23 - - Additional Data from TORREY Open-Label Extension Expected in 4Q23 or
About this update from Gossamer Bio, Inc.
[{"type":"text","content":"\n- Seralutinib Phase 3 PROSERA Study in PAH Patients Expected to Initiate in 3Q23 -\n\n\n- Additional Data from TORREY Open-Label Extension Expected in 4Q23 or 1Q24 - \n\n\n- $374 Million in Cash, Cash Equivalents & Marketable Securities, as of June 30, 2023, Pro Forma for Gross Proceeds of $212 Million from a Private Placement Financing in July 2023 -\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nGossamer Bio, Inc. (Nasdaq: GOSS), a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH), today announced its financial results for the second quarter ended June 30, 2023, and provided a business update.\n\n\n“We are very excited to begin the Phase 3 PROSERA Study, the next step on our journey to make seralutinib available to patients with PAH,\" said Faheem Hasnain, Chairman, Co-Founder and CEO of Gossamer Bio. “Seralutinib, as a potentially disease-modifying therapy delivered via convenient dry powder inhaler, has the chance to fundamentally alter the treatment paradigm for this progressive disease. I am so proud of our team’s efforts thus far and share in the enthusiasm for the work ahead.”\n\n\nSeralutinib (GB002): Inhaled PDGFR, CSF1R and c-KIT Inhibitor for PAH\n\n\n\nIn July, Gossamer announced an interim update of its Phase 2 TORREY Study open-label extension (OLE) data and details of the design of the Phase 3 PROSERA Study. A webcast was held on July 25th to discuss this information with global PAH leaders Dr. Ray Benza, Dr. Ardi Ghofrani, and Dr. Jim White. A recording of this webcast is available at https://ir.gossamerbio.com/events-and-presentations/events.\n\n\n\n\nThe Phase 3 PROSERA Study in Functional Class II and III PAH patients is expected to initiate in the third quarter of 2023. The primary endpoint is change in six-minute walk distance (6MWD) from baseline at week 24.\n\n\n\n\nGossamer expects to release further TORREY OLE data from the ongoing extension study in PAH patients in the fourth quarter of 2023 or the first quarter of 2024.\n\n\n\nCorporate Updates\n\n\n\nOn July 20, the Company announced the sale of 129,869,440 shares of its common stock and accompanying warrants to purchase up to 32,467,360 shares of common stock to new and existing institutional investors and certain directors and executive officers...