Gossamer Bio Inc. (NASDAQ:GOSS) Reports Its Q3 Financial Updates and Update on Progress of Its Clinical Programs

Gossamer Bio Inc. (NASDAQ:GOSS) has announced its Q3 2020 financial results and provided a business update.

The company’s CEO and Co-Founder, Sheila Gujrathi, said that they are delighted about advancing their pipeline with the commencement of two Phase 2 clinical studies for GB002 and GB004. Besides the two studies, Sheila confirmed that the company is planning to expand the GB1275 dose cohort.

Advancing GB002 and GB004 in PAH and UC patients, respectively

Gossamer is currently evaluating GB002 in a phase 1 b study in Pulmonary Arterial Hypertension (PAH).  The company activated sites in the 24-week Phase 2 TORREY study in functional Class 1&2 PAH patients. Enrolment for the trail will commence in Q4 2020, and the study’s primary endpoint is pulmonary vascular resistance change from baseline after 24 weeks. Gossamer expects to provide topline TORREY study data in 1H 2020 subject to COVID-19 pandemic developments.

During the quarter, the company dosed several patients in Phase 2 SHIFT-UC clinical study in UC patients. The study’s primary endpoint was clinical remission in patients after 12 weeks. Gossamer expects to release topline data from the study in 1H 2022. The company presented phase 1b trial results in active mild-to-moderate ulcerative colitis patients at the Virtual 2020 UEG Week.

Gossamer presents GB1275 results in advanced solid tumors

Recently the company presented a poster featuring preliminary results from the KEYNOTE-A36 GB1275 study at this year’s Society for Immunotherapy of Cancer annual meeting. GB1275 is an oral first-in-class CD11b modulator the company is evaluating alone or in combination with chemotherapy or pembrolizumab in advanced solid tumors.  Results showed that GB1275 showed positive biological activity at doses of more than 800 mg BID in advanced solid tumors that are nonresponsive to checkpoint inhibitors. The activity support GB1275’s mechanism of action in controlling myeloid cell biology in tumor setup with the possibility of enhancing anti-tumor response. The company ended the quarter with $555.4 million in cash, cash equivalents, and short-term investments. Gossamer expects the cash and access to its credit facility to be adequate to fund operations through 2H 2023.