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4 stories mentioning GOSSUpdated 23d ago

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Sectors

Sector Update: Healthcare Stocks Advance in Afternoon Trading

Healthcare stocks were higher Friday afternoon, with the NYSE Healthcare Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) gained 1.8%.In corporate news, Johnson & Johnson (JNJ) shares rose 1.3% after the firm said Friday Tecvayli plus daratumumab has been approved by the European Commission to treat adults with relapsed or refractory multiple myeloma.Arbutus Biopharma (ABUS) shares jumped past 7% after the firm said it plans to launch a tender offer to repurchase up to $230 million of its shares at between $5.00 and $5.75 per share.Gossamer Bio (GOSS) shares were up 0.8% after the firm said it has agreed to sell up to $250 million of securities in a structured private placement to new and existing institutional investors.Werewolf Therapeutics (HOWL) and Ambros Therapeutics said they have struck an all-stock merger agreement to create a late-stage biotech company. Werewolf shares surged 108%.

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Wire

Gossamer Bio Agrees to Up to $250 Million Private Placement; Shares Rise Pre-Bell

Gossamer Bio (GOSS) shares were up 10% in Friday's premarket trading after the company said it has agreed to sell up to $250 million in securities in a private placement to EcoR1 Capital, 683 Capital Partners, RA Capital Management and other new and existing investors.The company said that the placement consists of an initial closing of $25 million at a purchase price of $0.1399 per pre-funded warrant, which can be exercised at $0.0001 apiece.It said that a committed second closing of $125 million is contingent upon the Food and Drug Administration accepting its new drug application for seralutinib as a treatment for pulmonary arterial hypertension in 2026.The offering also includes warrants that could provide up to $100 million in additional gross proceeds if they are exercised following FDA approval, Gossamer said.Gossamer said net proceeds, along with existing resources, will be used to advance its seralutinib drug and fund its operations into 2028.The initial closing is expected to occur on or about Aug. 24, the company said.

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Research

Leerink Partners Upgrades Gossamer Bio to Outperform From Market Perform, $1 Price Target

Gossamer Bio (GOSS) has an average rating of overweight and mean price target of $3.86, according to analysts polled by FactSet.

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Wire

Update: Gossamer Bio Extends Gains Pre-Bell Following New Drug Application Filing Plans for Pulmonary Arterial Hypertension Treatment

(Updates with the stock move in the headline and the first two paragraphs.)Gossamer Bio's (GOSS) shares surged more than 30% in Tuesday's pre-market activity after the company said it is proceeding toward a September new drug application submission for seralutinib as a potential treatment for patients with pulmonary arterial hypertension.The plans follow a "productive" pre-application meeting with the U.S. Food and Drug Administration, the company said Monday, when shares closed almost 47% higher in regular trading.Gossamer has also reacquired worldwide development and commercial rights to seralutinib from Chiesi, eliminating a previous 50/50 profit share deal and requiring Chiesi to make a one-time $5 million payment, it said.Its shareholders have also approved proposals related to a convertible note exchange and authorized it to effect a reverse stock split, to take effect after Q3 2026, the company said.The company also reported that cash, cash equivalents and marketable securities totaled approximately $57 million as of June 30.Price: $0.26, Change: $+0.062, Percent Change: +30.39%

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