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Gossamer Bio, Inc.'s lead candidate - Seralutinib, indicated for Pulmonary Arterial Hypertension - met its primary endpoint in the Phase 2 TORREY study. Nevertheless, investors dumped the stock - due to Seralutinib's perceived inferiority to Merck's Sotatercept.
Gossamer Bio Inc stock lost three quarters of its value today as the market questioned the performance of the company's experimental hypertension drug in a Phase 2 clinical trial despite an upbeat assessment from the company. “We are very pleased to share that seralutinib significantly improved hemodynamic, biomarker, and right heart structural and functional measures in a heavily treated pulmonary arterial hypertension patient population,” said Faheem Hasnain, CEO of Gossamer.
Gossamer Bio (NASDAQ: GOSS ) is one of the top-trending tickers on social media today, and its shares are plunging more than 70%. The company announced that a trial of its drug for hypertension, seralutinib, had met the primary goal in a Phase 2 trial.
Shares of Gossamer Bio Inc. GOSS, +2.99% plunged 64.5% in premarket trading on Tuesday after Wall Street analysts questioned the performance of the company's experimental hypertension drug in a Phase 2 clinical trial. Though Gossamer said the drug, seralutinib, met the primary endpoint in a Phase 2 clinical trial, SVB Securities analyst Joseph Schwartz told investors that the therapy didn't outperform Merck & Co. Inc.'s MRK, -0.03% sotatercept.
Gossamer Bio (GOSS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Gossamer Bio Inc (NASDAQ: GOSS) is in the green on Thursday after a Goldman Sachs analyst said the stock is ready for another huge move to the upside.
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