Gossamer Bio Sees 71% Revenue Surge to $17M, Wider Q1 Loss
GOSS•Gossamer Bio posted a Q1 loss of $0.20 per share, wider than the $0.17 consensus, while revenue jumped 71% to $17.0 million with $9.3 million from Chiesi collaboration. The company secured a mid-June Pre-NDA meeting, plans a September 2026 NDA submission and expects cash to fund operations into early 2027.
1. Quarterly Results
Gossamer Bio reported an adjusted first-quarter loss of $0.20 per share versus the $0.17 consensus, while revenue reached $17.0 million, exceeding the $4.71 million estimate and climbing 71% from $9.9 million a year earlier. The top-line growth was largely driven by $9.3 million in collaboration revenue from its partnership with Chiesi Group.
2. Regulatory Timeline
The company has secured an in-person Pre-NDA Type B meeting with the FDA for mid-June and intends to submit a New Drug Application for seralutinib in pulmonary arterial hypertension in September 2026. If the NDA is accepted, Gossamer Bio anticipates potential FDA approval in the third quarter of 2027.
3. Balance Sheet Actions
Gossamer Bio launched an exchange offer for its 5.00% Convertible Senior Notes due 2027, with holders representing 75.2% of the notes agreeing to participate, aiming to reduce convertible debt from $200 million to $72 million. As of March 31, the company held $99.2 million in cash, equivalents and marketable securities, which it expects to support operations into the first quarter of 2027.
