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SAN DIEGO--(BUSINESS WIRE)--Gossamer 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), announced today that it will hold a conference call with PAH experts on Tuesday, July 25th at 10 a.m. EDT. Gossamer's management team will be joined by world-renowned PAH key opinion leaders, Dr. Ray Benza, Dr. Ardi Ghofrani, and Dr. Jim White to discuss the upcoming P.
Merck's Sotatercept showed significant improvements in PAH patients in Phase 3 STELLAR trial with a primary endpoint of improvements in pulmonary vascular resistance, 6-minute walk distance, and NT-proBNP levels. Gossamer Bio's seralutinib showed clear efficacy in the Phase 2 TORREY trial, albeit not meeting expectations, and is moving forward with a revised Phase 3 trial.
Gossamer's TORREY showed stat sig PVR improvement, but the 6MWD was under what investors were hoping for; this led to a +70% decline in share price. Seralutnib is entering phase 3 with an adapted design (with more severe patients); although the success is less clear, any positive surprises can lead to a meaningful stock rally.
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 (GOSS) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
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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.