Gossamer Bio Reports 58% Revenue Decline and $170.4 Million Net Loss for Fiscal Year 2025

Gossamer Bio, Inc., a clinical-stage biopharmaceutical company, reported a significant decline in revenue for the fiscal year ending December 31, 2025, with total revenue of $48.5 million, down from $114.7 million in 2024. This decrease was primarily attributed to a $90.7 million drop in revenue from the sale of licenses, partially offset by a $24.5 million increase in revenue from contracts with collaborators, particularly related to ongoing research and development services under its collaboration agreement with Chiesi. The company incurred a net loss of $170.4 million for 2025, compared to a loss of $56.5 million in the previous year, bringing its accumulated deficit to approximately $1.44 billion.

In terms of operational developments, Gossamer Bio is focused on advancing its lead product candidate, seralutinib, which is being developed for the treatment of pulmonary hypertension (PH), including pulmonary arterial hypertension (PAH) and PH associated with interstitial lung disease (PH-ILD). The company announced topline results from the Phase 3 PROSERA study in February 2026, which showed a placebo-adjusted improvement in the primary endpoint of six-minute walk distance (6MWD) of 13.3 meters, although it did not meet the prespecified statistical threshold. Following these results, Gossamer plans to engage with the U.S. Food and Drug Administration (FDA) to discuss potential regulatory pathways forward.

Strategically, Gossamer Bio entered into a collaboration agreement with Chiesi in May 2024, which includes a $160 million upfront payment and shared costs for the global development and commercialization of seralutinib. The company has also paused enrollment in its Phase 3 SERANATA study for PH-ILD to evaluate the implications of the PROSERA results and to allocate resources more effectively. As of March 2026, Gossamer had a workforce reduction of approximately 48%, aimed at conserving cash while maintaining core capabilities.

Looking ahead, Gossamer Bio anticipates that its existing cash, cash equivalents, and marketable securities will be sufficient to fund operations through the fourth quarter of 2026. However, the company acknowledges the need for substantial additional financing to support ongoing clinical trials and potential commercialization efforts for seralutinib. The company’s future capital requirements will depend on various factors, including the costs and outcomes of regulatory reviews, clinical trials, and the timing of milestone payments to its licensors. The company has indicated that it may need to raise additional capital through equity offerings or other financing arrangements, which could dilute existing shareholders' interests.