Gossamer Bio Reports 40% Revenue Increase in Q3 2025, Net Loss of $48.2 Million

Gossamer Bio, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $13.3 million, a 40% increase from $9.5 million in the same period last year. The revenue primarily stemmed from contracts with collaborators, specifically the Chiesi Collaboration Agreement, which accounted for all of the company's revenue during the quarter. However, for the nine months ended September 30, 2025, total revenue decreased significantly to $34.7 million from $105.3 million in the prior year, largely due to the absence of revenue from the sale of licenses, which had contributed $88.8 million in the previous year.

Operating expenses for the third quarter rose to $62.4 million, up from $43.4 million in the same quarter of 2024, driven by increased research and development costs associated with the ongoing clinical trials for seralutinib. The company reported a net loss of $48.2 million for the quarter, compared to a loss of $30.8 million in the prior year. For the nine-month period, the net loss escalated to $123.1 million from $23.5 million, reflecting the company's continued investment in its clinical programs and the impact of the Chiesi collaboration.

In terms of strategic developments, Gossamer Bio has made significant strides in its clinical programs, particularly with seralutinib, which is being developed for pulmonary hypertension. The company initiated the registrational Phase 3 PROSERA Study in PAH in late 2023 and completed enrollment in June 2025. Additionally, Gossamer activated the first clinical site for the Phase 3 SERANATA Study for PH-ILD in October 2025. The collaboration with Chiesi, established in May 2024, includes a $160 million upfront payment and shared costs for ongoing clinical development, which positions Gossamer to benefit from potential future milestones and royalties.

Operationally, Gossamer Bio's cash and cash equivalents, along with marketable securities, totaled $180.2 million as of September 30, 2025. The company has incurred substantial operating losses since its inception, with an accumulated deficit of $1.39 billion. Gossamer anticipates continuing to incur significant losses as it advances its clinical programs and seeks regulatory approvals. The company has indicated that it may need to raise additional capital through equity offerings or other financing methods to support its operations and development efforts.

Looking ahead, Gossamer Bio expects to report topline data from the PROSERA study in February 2026 and remains focused on advancing seralutinib through clinical trials. The company acknowledges the inherent uncertainties in clinical development and the need for ongoing funding to support its strategic objectives. Gossamer's management believes that its current cash position will be sufficient to fund operations for at least the next 12 months, although future capital requirements will depend on various factors, including the progress of clinical trials and regulatory reviews.