The NDA submission timeline for seralutinib in September 2026 and the potential FDA decision in Q3 2027 are the key catalysts. Cash runway into Q1 2027 suggests no near-term financing urgency but limited buffer. Monitor the upcoming NDA filing announcement and any FDA acceptance news. The reacquisition of worldwide rights from Chiesi gives Gossamer full economics but also full risk. The reverse stock split authorization hints at Nasdaq compliance efforts.
Price Chart
Executive Summary
Gossamer Bio reported Q2 2026 GAAP net income of $16.9 million ($0.05 basic EPS) vs. a net loss of -$38.3 million (-$0.17) in Q2 2025, driven largely by a $43.8 million gain on debt extinguishment from the convertible note exchange. Revenue from the Chiesi collaboration fell to $9.2 million from $11.5 million year-over-year. Operationally, the company remains a pre-revenue clinical-stage biotech; the standout news is the NDA submission for seralutinib in PAH on track for September 2026, the reacquisition of worldwide rights from Chiesi (with a $5 million payment to Gossamer), and a strengthened balance sheet post-exchange.
Key Financial Metrics
Key Facts
- Q2 2026 GAAP net income of $16.9M ($0.05 basic EPS) vs. net loss of -$38.3M (-$0.17) in Q2 2025; $0.08 diluted net loss per share in Q2 2026
- Revenue from contracts with collaborators was $9.2M, down from $11.5M in Q2 2025 (includes $6.1M cost reimbursement)
- Cash, cash equivalents, and marketable securities totaled $57.0M as of June 30, 2026, down from $136.9M at Dec 31, 2025
- NDA submission for seralutinib in PAH planned for September 2026, with potential FDA decision in Q3 2027 if accepted
- Reacquired worldwide rights to seralutinib from Chiesi via termination agreement; Chiesi made a one-time $5M payment to Gossamer, with no upfront cash payment by Gossamer
- Exchange of ~$181.1M (90.5%) of existing 5.00% convertible notes due 2027 for ~$65.2M of new 7.50% convertible notes due 2030 plus equity/warrants, reducing aggregate principal debt by ~$115.9M
- Stockholders authorized a reverse stock split (timing and ratio subject to Board approval)
- Cash runway expected into Q1 2027
- Gain on debt extinguishment of $43.8M; remeasurement of warrant liability of $1.6M and derivative liability of $4.1M
Financial Impact
GAAP net income of $16.9M versus a net loss of -$38.3M year-over-year, driven largely by a $43.8M non-cash gain on debt extinguishment; operating cash burn of approx -$26.1M in operating loss for Q2 2026
Risk Factors
- NDA submission may not be accepted for filing by FDA; seralutinib may not receive approval
- Cash runway only into Q1 2027 — significant dilution risk if further capital raise is needed
- Reliance on single asset (seralutinib); failure in PAH/PH-ILD would devastate the company
- Revenue from collaborators declined YoY; no approved products generate revenue
- Negative working capital of -$65.1M and stockholders' deficit of -$94.0M indicate balance sheet stress
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001728117-26-000073 |
| Document: goss-20260813.htm | 0001728117-26-000073 |
| Document: 0001728117-26-000073-index-headers.html | 0001728117-26-000073 |
| Document: 0001728117-26-000073-index.html | 0001728117-26-000073 |
| Document: 0001728117-26-000073.txt | 0001728117-26-000073 |
| 8-K Data (Synthetic) | 0001728117-26-000073 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 17d ago | SC 13D/A | $9.31 | awaiting T+20 | — | $9.36 (−0.59%) |
Sep 28, 2026 27d ago | SC 13D/A | $11.58 | awaiting T+20 | — | $9.36 (+19.13%) |
Sep 22, 2026 4w ago | Institutional Cluster | $11.69 $9.58 | ▼ −18.05% | ▼ −17.49% | $9.36 (−19.89%) |
Sep 16, 2026 5w ago | 8-K | $11.94 $8.89 | ▼ −25.54% | ▼ −26.75% | $9.36 (−21.57%) |
Sep 11, 2026 6w ago | 8-K | $10.73 $9.31 | ▲ +13.23% | ▲ +15.10% | $9.36 (+12.72%) |
Sep 9, 2026 6w ago | 8-K | $0.1597 $0.1273 | ▼ −20.32% | ▼ −22.26% | $9.36 (+5764.12%) |
Aug 21, 2026 9w ago | 8-K | $0.1547 $0.1410 | ▲ +8.86% | ▲ +9.87% | $9.36 (−5953.65%) |
Aug 13, 2026 10w ago | 8-K | $0.1542 $0.1337 | ▼ −13.26% | ▼ −11.27% | $9.36 (+5973.28%) |
Jul 1, 2026 16w ago | 8-K | $0.1677 $0.1783 | ▼ −6.32% | ▼ −6.87% | $9.36 (−5484.38%) |
Jun 17, 2026 18w ago | 8-K | $0.1790 $0.1701 | ▲ +4.97% | ▲ +5.29% | $9.36 (−5131.84%) |
US Market Status
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