Gossamer Bio, Inc. (GOSS) Bundle
An Overview of Gossamer Bio, Inc. (GOSS)
General Summary of Gossamer Bio, Inc. (GOSS)
Gossamer Bio, Inc. was incorporated in October 2015 and commenced operations in 2017. The company focuses on developing transformative medicines for patients with serious diseases. Its primary product candidate, seralutinib, is designed for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). As of 2024, Gossamer Bio has entered into a collaboration agreement with Chiesi Farmaceutici S.p.A., which has significantly impacted its operations and revenue.
Current sales as of 2024 include a one-time development cost reimbursement payment for licenses amounting to $88.75 million and ongoing revenue from contracts with collaborators totaling $16.57 million, leading to a total revenue of $105.32 million for the nine months ended September 30, 2024.
Company's Financial Performance in the Latest Financial Reports
In the latest financial report for the nine months ended September 30, 2024, Gossamer Bio reported total revenue of $105.32 million, a significant increase compared to $0 revenue for the same period in 2023. The revenue was primarily generated from the collaboration with Chiesi, which includes a one-time payment and ongoing cost-sharing payments for research and development services.
The operating expenses for the same period were $129.11 million, which included $102.38 million in research and development and $26.74 million in general and administrative expenses. This resulted in a loss from operations of $23.79 million, a significant improvement from a loss of $134.73 million in the prior year.
Net loss for the nine months was $23.50 million, compared to $131.67 million in the previous year. The improvement in net loss is attributed to higher revenues and reduced operating expenses.
| Financial Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Total Revenue | $105.32 million | $0 |
| Operating Expenses | $129.11 million | $134.73 million |
| Loss from Operations | $23.79 million | $134.73 million |
| Net Loss | $23.50 million | $131.67 million |
Introduction to Gossamer Bio as a Leader in the Industry
Gossamer Bio has positioned itself as a significant player in the biotechnology sector, particularly in the development of therapies for pulmonary diseases. The strategic collaboration with Chiesi is expected to enhance its capabilities in research, development, and commercialization of seralutinib, which is pivotal for treating PAH and PH-ILD. This partnership not only provides financial backing but also expands Gossamer's market reach and operational support.
As of September 30, 2024, Gossamer Bio reported cash, cash equivalents, and marketable securities totaling $327.0 million, which underscores its strong liquidity position to support ongoing operations and development initiatives. The company’s focus on innovative therapies and strategic collaborations sets it apart as a leader in the competitive biotech landscape.
Mission Statement of Gossamer Bio, Inc. (GOSS)
Mission Statement of Gossamer Bio, Inc. (GOSS)
Gossamer Bio, Inc. (NASDAQ: GOSS) is committed to advancing the field of biopharmaceuticals by focusing on the development of innovative therapies. The company's mission statement encapsulates its core purpose and strategic direction, emphasizing the importance of improving patient outcomes through groundbreaking research and development.
The significance of a well-defined mission statement lies in its ability to guide the company's long-term objectives and decisions, ensuring that all efforts align with its overarching goals. Gossamer Bio's mission serves as a foundation for its operations, research initiatives, and partnerships.
Core Component 1: Innovation in Therapeutics
At the heart of Gossamer Bio's mission is a dedication to innovation in therapeutics. The company aims to discover, develop, and commercialize novel therapies that address unmet medical needs. As of September 30, 2024, Gossamer Bio reported significant advancements in its clinical pipeline, particularly with seralutinib, a drug targeting pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
In the nine months ended September 30, 2024, Gossamer Bio generated total revenue of $105.3 million, largely attributed to its collaboration with Chiesi Farmaceutici, which includes a one-time development cost reimbursement payment of $160 million. This financial backing underscores the company's commitment to fostering innovation within its therapeutic focus areas.
Core Component 2: Commitment to Quality
Gossamer Bio places a strong emphasis on delivering high-quality products and services. This commitment is evident in its rigorous research and development processes, which are designed to ensure the safety and efficacy of its therapeutic candidates. For the nine months ended September 30, 2024, Gossamer Bio incurred research and development expenses of $102.4 million, reflecting its investment in maintaining high-quality standards throughout its clinical trials.
The company's focus on quality is also demonstrated by its compliance with regulatory requirements and its proactive approach to risk management. Gossamer Bio's collaboration agreements, such as the one with Chiesi, include performance obligations that ensure adherence to quality benchmarks in the development of seralutinib and other licensed products.
Core Component 3: Patient-Centric Approach
A fundamental aspect of Gossamer Bio's mission is its patient-centric approach. The company is dedicated to improving patient outcomes by developing therapies that address critical health challenges. This focus is reflected in its ongoing clinical studies for seralutinib, which are designed to assess the drug's effectiveness in treating PAH and PH-ILD.
As of September 30, 2024, Gossamer Bio reported an accumulated deficit of $1.24 billion, indicating the significant investments made towards developing therapies that benefit patients. The company’s strategic partnerships and collaborations further enhance its capabilities to deliver solutions tailored to patient needs, reinforcing its commitment to a patient-first philosophy.
| Financial Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue | $9.5 million | $0 |
| Research and Development Expenses | $34.9 million | $31.2 million |
| Net Loss | $(30.8 million) | $(40.0 million) |
| Accumulated Deficit | $(1.24 billion) | $(1.18 billion) |
Vision Statement of Gossamer Bio, Inc. (GOSS)
Vision Statement of Gossamer Bio, Inc. (GOSS)
As of 2024, Gossamer Bio, Inc. aims to innovate in the biopharmaceutical sector, focusing on developing novel therapeutics to address unmet medical needs. Their vision is centered around enhancing patient outcomes and advancing healthcare solutions through cutting-edge science and technology.
Focus on Innovative TherapeuticsGossamer Bio is committed to developing groundbreaking therapies, particularly in the areas of pulmonary diseases and other serious conditions. The company is dedicated to bringing forth innovative solutions that can significantly improve the quality of life for patients.
Commitment to Patient OutcomesAt the core of Gossamer Bio's vision is a strong emphasis on patient outcomes. The company strives to ensure that its therapeutic developments translate into meaningful improvements in patient health, aiming to address the most pressing medical challenges faced by individuals today.
Collaboration and PartnershipGossamer Bio recognizes the importance of strategic collaborations in achieving its vision. The partnership with Chiesi Farmaceutici, established in May 2024, exemplifies this approach. Under this collaboration, Gossamer Bio has the opportunity to leverage Chiesi’s expertise and resources to accelerate the development and commercialization of seralutinib and related products.
| Aspect | Details |
|---|---|
| Collaboration Partner | Chiesi Farmaceutici |
| Collaboration Agreement Date | May 3, 2024 |
| Development Cost Reimbursement | $160 million |
| Royalty Rates | Mid-to-high teens percentage on annual net sales outside of the U.S. |
| Profit Sharing | Equal share of profits and losses from commercialization in the U.S. |
Gossamer Bio is also focused on sustainable practices and ethical considerations in its operations. The company aims to maintain high standards of corporate governance and transparency, ensuring that its business practices contribute positively to society and the environment.
Future Growth and ExpansionLooking ahead, Gossamer Bio envisions a future where it can expand its portfolio of innovative treatments. The company plans to invest in research and development to explore new therapeutic areas and continue its mission of improving patient care globally.
Financial OverviewAs of September 30, 2024, Gossamer Bio reported a net loss of $23.5 million, significantly reduced from a loss of $131.7 million during the same period in 2023. The total revenue for the nine months ended September 30, 2024, was $105.3 million, primarily from its collaboration with Chiesi.
As of September 30, 2024, Gossamer Bio had cash, cash equivalents, and marketable securities totaling $327 million, reflecting a robust liquidity position to support its ongoing research and development efforts.
In summary, Gossamer Bio, Inc. continues to position itself as a leader in the biopharmaceutical industry, with a clear vision focused on innovation, patient outcomes, collaboration, and sustainability as it navigates the complexities of drug development and commercialization.
Core Values of Gossamer Bio, Inc. (GOSS)
Core Values of Gossamer Bio, Inc. (GOSS)
Innovation
Innovation is at the heart of Gossamer Bio's operations. The company is committed to pioneering new therapies for patients with severe diseases. This commitment is evident in its focus on seralutinib, a drug candidate designed for treating pulmonary diseases.
In 2024, Gossamer Bio increased its research and development expenditures to $34.9 million for the third quarter alone, reflecting a strategic investment in innovative drug development. The total research and development expenses for the nine months ended September 30, 2024, were $102.4 million, down from $105.3 million in the same period of 2023, showcasing a shift in focus towards more promising candidates such as seralutinib.
Collaboration
Collaboration is another core value that Gossamer Bio emphasizes. The strategic partnership with Chiesi Farmaceutici, established in May 2024, exemplifies this value. Under this collaboration, Gossamer Bio received a one-time development cost reimbursement of $160 million, which will support the development of seralutinib and other potential therapies.
For the nine months ended September 30, 2024, Gossamer reported revenue of $105.3 million, primarily driven by this collaboration, which includes ongoing cost-sharing payments for research and development services.
Integrity
Integrity is fundamental to Gossamer Bio's operations, guiding its interactions with stakeholders and ensuring transparency in its financial reporting. The company faced a net loss of $23.5 million for the nine months ended September 30, 2024, a significant improvement from a loss of $131.7 million in the same period of 2023.
Gossamer Bio maintains this integrity by adhering to rigorous reporting standards, which include a detailed breakdown of operating expenses and revenue sources. For instance, general and administrative expenses decreased to $26.7 million for the nine months ended September 30, 2024, from $29.4 million in the previous year, indicating prudent financial management.
Excellence
Excellence in clinical development is a core value that Gossamer Bio strives for. The focus on high-quality research is reflected in the significant investment in clinical trials for seralutinib, which accounted for $32.8 million of the R&D budget in Q3 2024.
The company is advancing its clinical trials with a commitment to achieving robust results, as demonstrated by its ongoing efforts to secure regulatory approvals. This focus on excellence is crucial as Gossamer Bio aims to bring innovative treatments to market that address unmet medical needs.
Commitment to Patients
Gossamer Bio's commitment to patients drives its mission to develop transformative therapies. The company aims to address serious diseases such as pulmonary arterial hypertension (PAH) and pulmonary fibrosis through its lead candidate, seralutinib. The potential impact of this drug is underscored by the ongoing collaboration with Chiesi, which aims to expedite the development process and enhance patient access.
As of September 30, 2024, Gossamer Bio had an accumulated deficit of $1.23 billion, highlighting the extensive investment required to fulfill its commitment to patients through innovative therapies.
| Core Value | Description | 2024 Financial Data |
|---|---|---|
| Innovation | Focus on developing new therapies like seralutinib. | R&D Expenses: $102.4M |
| Collaboration | Strategic partnerships to enhance development capabilities. | Revenue from Chiesi: $105.3M |
| Integrity | Transparency in operations and financial reporting. | Net Loss: $23.5M |
| Excellence | Commitment to high-quality clinical development. | Clinical Trial Investment: $32.8M |
| Commitment to Patients | Development of transformative therapies for serious diseases. | Accumulated Deficit: $1.23B |
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Resources:
- Gossamer Bio, Inc. (GOSS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Gossamer Bio, Inc. (GOSS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Gossamer Bio, Inc. (GOSS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.