Gossamer Bio (GOSS) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $38.4M, including $37.1M of deferred revenue recognized when the Chiesi collaboration ended; operating income was $7.2M and net loss was $48.1M.

• Worldwide seralutinib rights returned in July; the PAH NDA was submitted in September after PROSERA missed its prespecified alpha threshold.

• Cash, cash equivalents and marketable securities were $51.2M at quarter-end; existing resources were expected to fund operations into Q1 2027.

Financial highlights

• Q3 revenue was $38.4M vs. $13.3M YoY; 9M revenue was $64.6M vs. $34.7M, driven largely by revenue recognized upon termination of the Chiesi agreement.

• Q3 operating expenses were $31.2M vs. $62.4M; 9M operating expenses were $128.4M vs. $159.4M.

• Q3 net loss was $48.1M, or $7.36 per share, vs. $48.2M, or $16.92 per share; 9M net loss was $77.8M vs. $123.1M and included a $43.8M debt-extinguishment gain.

• Q3 other expense, net was $55.3M, principally reflecting warrant-related charges; a $5.6M derivative-liability remeasurement gain partly offset expense.

• Q3 R&D expense was $18.8M vs. $45.5M YoY; G&A was $9.6M vs. $9.4M.

Outlook and guidance

• Existing cash, cash equivalents and marketable securities were expected to fund operations into Q1 2027; additional financing is needed to support development beyond that point.

• If accepted for filing, the NDA could be eligible for an FDA approval decision in Q3 2027; review timing and approval remain uncertain.

• NDA acceptance in 2026 could trigger up to $125M in additional private-placement proceeds, subject to closing conditions; FDA approval and cash exercise of warrants could provide up to $100M gross.

• Preparing for a potential seralutinib commercial launch in 2027 while supporting FDA review of the PAH NDA.