Gossamer Bio Reports $9.9 Million Revenue in Q1 2025, Net Loss Decreases to $36.6 Million

Gossamer Bio, Inc. reported a total revenue of $9.9 million for the first quarter of 2025, a significant increase from zero revenue in the same period of the previous year. This revenue was generated entirely from the company's collaboration with Chiesi Farmaceutici S.p.A., which includes a one-time development cost reimbursement payment and ongoing cost-sharing payments for research and development services. The company’s net loss for the quarter was $36.6 million, a decrease from a net loss of $41.9 million in the first quarter of 2024, reflecting improved operational efficiency.

Operating expenses for Gossamer Bio increased to $46.7 million in the first quarter of 2025, up from $42.0 million in the prior year. The rise in expenses was primarily driven by a $5.6 million increase in research and development costs, which totaled $38.0 million, largely due to heightened activities related to the clinical development of seralutinib. General and administrative expenses decreased slightly to $8.7 million, down from $9.6 million, attributed to reduced stock-based compensation costs.

In terms of financial position, Gossamer Bio reported total assets of $280.6 million as of March 31, 2025, down from $315.3 million at the end of 2024. The decline in assets was primarily due to a decrease in cash and cash equivalents, which fell to $29.0 million from $46.1 million. The company’s accumulated deficit increased to $1.3 billion, reflecting ongoing operational losses since its inception. As of the end of the first quarter, Gossamer Bio had a total of 227.2 million shares outstanding.

Strategically, Gossamer Bio has made significant advancements, including the initiation of the registrational Phase 3 PROSERA Study for seralutinib in pulmonary arterial hypertension (PAH) and plans to activate clinical sites for the Phase 3 SERANATA Study for pulmonary hypertension associated with interstitial lung disease (PH-ILD) by late 2025. The company has also entered into a collaboration agreement with Chiesi, which includes a $160 million upfront payment and potential milestone payments totaling up to $326 million, along with shared costs for ongoing clinical development.

Looking ahead, Gossamer Bio anticipates continued operating losses as it progresses through clinical trials and seeks regulatory approvals for seralutinib. The company expects to rely on additional capital raises through equity offerings or collaborations to fund its operations, as it does not foresee generating significant revenue from product sales in the near term. Management believes that existing cash and marketable securities will be sufficient to support operations for at least the next 12 months, although future capital needs may arise depending on the pace of clinical development and other operational factors.