Gossamer Bio Reports Significant Revenue Decline and Increased Losses in Latest Quarter

Gossamer Bio, Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total revenue of $11.5 million for the three months ended June 30, 2025, a substantial decrease from $95.8 million in the same period of the previous year. This decline was primarily due to the absence of revenue from the sale of licenses, which accounted for $88.8 million in the prior year. For the six months ending June 30, 2025, total revenue was $21.4 million, down from $95.8 million in the same period of 2024. The revenue generated during this period was mainly from contracts with collaborators, specifically the Chiesi Collaboration Agreement.

Operating expenses for Gossamer Bio increased to $50.3 million in the second quarter of 2025, compared to $43.8 million in the same quarter of 2024. The rise in expenses was driven by higher research and development costs, which reached $41.6 million, up from $35.1 million year-over-year. For the first half of 2025, total operating expenses were $97.0 million, compared to $85.7 million in the prior year. The company reported a net loss of $38.3 million for the second quarter of 2025, contrasting sharply with a net income of $49.2 million in the same quarter of 2024. The accumulated deficit as of June 30, 2025, stood at $1.34 billion.

In terms of strategic developments, Gossamer Bio entered into a significant collaboration with Chiesi Farmaceutici in May 2024, which includes exclusive licenses for the development and commercialization of seralutinib. The agreement is expected to provide Gossamer with a one-time development cost reimbursement payment of $160 million, along with potential milestone payments and shared costs for ongoing clinical development. The company is currently focused on advancing seralutinib through clinical trials, including the ongoing Phase 3 PROSERA Study for pulmonary arterial hypertension (PAH), with topline data expected in February 2026.

Operationally, Gossamer Bio's cash and cash equivalents, along with marketable securities, totaled $212.9 million as of June 30, 2025. The company reported a net cash outflow from operating activities of approximately $86.8 million for the first half of 2025, compared to a cash inflow of $64.0 million in the same period of 2024. The company anticipates continuing to incur significant operating losses and will need to raise additional capital to support its operations and development efforts. Management believes that existing resources will be sufficient to fund operations for at least the next 12 months, but acknowledges the uncertainty surrounding future funding and operational needs.