San Diego-based Gossamer Bio (Nasdaq: GOSS) announced a structured private placement of up to USD 250 million, with USD 150 million in committed capital, designed to fund seralutinib through potential FDA approval in pulmonary arterial hypertension (PAH). The transaction directly addresses the company's constrained cash position — USD 57 million as of June 30, 2026 — and extends its operating runway into 2028, bridging the period between the planned September 2026 new drug application (NDA) submission and a potential approval decision.
The financing consists of three components. At the initial closing, expected around August 24, 2026, investors will purchase pre-funded warrants for approximately USD 25 million at USD 0.1399 per warrant. A second closing of approximately USD 125 million is committed and triggers upon FDA acceptance of the seralutinib NDA in PAH, provided that milestone occurs in 2026. At the second closing, investors will also receive warrants exercisable upon FDA approval; if exercised in full at USD 0.187 per share, those FDA approval warrants would generate up to an additional USD 100 million. Investors include EcoR1 Capital, 683 Capital Partners, RA Capital Management, Coastlands Capital, Samsara BioCapital, and Rock Springs Capital, among others. Prior to stockholder approval, warrants will be exercisable for non-voting convertible preferred stock, which automatically converts to common stock upon approval.
Seralutinib is an inhaled inhibitor of PDGFR, CSF1R, and c-KIT — receptor tyrosine kinases implicated in pulmonary vascular remodeling — delivered via dry powder inhaler. The financing follows Gossamer's reacquisition of worldwide rights from Italy-based Chiesi Farmaceutici in July 2026, which dissolved the prior 50/50 US profit share and returned ex-US rights to Gossamer at no upfront cash cost. The NDA will be anchored on the Phase III PROSERA study, which demonstrated a placebo-adjusted improvement in six-minute walk distance of +13.3 meters (p=0.0320) — narrowly missing the pre-specified alpha threshold of 0.025 — plus confirmatory evidence from the Phase II TORREY study. FDA characterized the statistical and magnitude findings as review rather than filing issues following a mid-June 2026 Pre-NDA Type B meeting. If accepted for filing, a regulatory decision could come in Q3 2027. The Phase III SERANATA study in pulmonary hypertension associated with interstitial lung disease remains paused pending the outcome of the PAH regulatory process.
Access the AllSci platform to explore the science behind the news.
Spot something wrong? Report an issue with this article