Gossamer Bio, Inc.

Gossamer Bio reported Q2 2026 financial results, including a net income of $16.9 million. The company reacquired worldwide development and commercial rights for seralutinib from Chiesi, consolidating global control and economics for its lead product. Stockholders also approved proposals related to a convertible note exchange, reducing debt by approximately $115.9 million, and authorized a reverse stock split to strengthen its capital structure. The company remains on track for a September 2026 NDA submission for seralutinib in PAH.

Gossamer Bio reported a Q2 2026 operational loss of $(26.1) million, an improvement from the prior year, but achieved a net income of $16.9 million primarily due to a significant gain on debt extinguishment. The company issued a going concern warning, indicating insufficient cash to fund operations for at least one year, and implemented a 46% workforce reduction in Q1 2026. Cash and cash equivalents saw a slight increase, but total current assets declined significantly, while shares outstanding more than doubled due to a convertible notes exchange.

Gossamer Bio reacquired worldwide development and commercial rights to seralutinib from Chiesi, terminating their prior collaboration. This move consolidates global control of the program ahead of a planned September 2026 NDA submission for seralutinib in PAH, following positive FDA Pre-NDA Type B meeting minutes. Additionally, stockholders approved proposals for a convertible note exchange, reducing debt by $115.9 million, and authorized a reverse stock split. The company also reported preliminary cash, cash equivalents, and marketable securities of approximately $57 million as of June 30, 2026.

Gossamer Bio, Inc. stockholders approved a significant increase in authorized Common Stock from 700 million to 4 billion shares, effective July 14, 2026. This move supports the conversion of newly issued 7.50% Convertible Senior Secured First Lien Notes due 2030, the exercise of Purchase Warrants, and the Restated 2019 Incentive Award Plan. Additionally, stockholders approved a series of alternate amendments to effect a reverse stock split and a proportionate reduction in authorized shares.

Gossamer Bio, Inc. announced the initial conversion rate for its 7.50% Convertible Senior Secured First Lien Notes due 2030 and the initial exercise price for its Purchase Warrants. The conversion rate for the 2030 Convertible Notes is 5,347.5936 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $0.19 per share. The Purchase Warrants' exercise price is set at $0.34 per whole share, with these rates based on a "Reference Price" of $0.17.

Gossamer Bio, Inc. announced the final tender results for its exchange offer of 5.00% Convertible Senior Notes due 2027. The company successfully exchanged $181,052,000 of the existing notes for new 7.50% Convertible Senior Secured First Lien Notes due 2030, common stock, and warrants, after amending the minimum tender condition to 90.5%. Following the offer, $18,948,000 in existing notes will remain outstanding. Stockholder proposals related to the exchange offer will be voted on at a special meeting on July 14, 2026.

Gossamer Bio, Inc. has filed a definitive proxy statement (DEF 14A) announcing a Special Meeting of Stockholders to be held virtually on July 14, 2026. The meeting will address several key proposals, including the approval of share issuances related to an exchange offer, an amendment to the company's incentive award plan, an increase in authorized shares, and a potential reverse stock split. The company recently completed the early settlement of its exchange offer for its 5.00% Convertible Senior Notes due 2027, issuing new convertible notes, common stock, and warrants. The Board of Directors recommends a vote in favor of all proposals.

Gossamer Bio, Inc. announced the early settlement of its exchange offer and consent solicitation for its 5.00% Convertible Senior Notes due 2027. The company accepted $181,052,000 in principal amount of existing notes, representing 90.526% of the outstanding amount, after amending the minimum tender condition. In exchange, Gossamer Bio issued $65,174,000 in new 7.50% Convertible Senior Secured First Lien Notes due 2030, along with 254,150,441 new common shares, 33,402,727 prefunded warrants, and 135,789,000 purchase warrants. The consent solicitation also successfully amended the existing note indenture, removing restrictive covenants.

Gossamer Bio, Inc. announced the extension of the early tender deadline for its exchange offer and consent solicitation regarding its 5.00% Convertible Senior Notes due 2027. The new deadline is June 2, 2026, with an expected early settlement date of June 4, 2026. As of June 1, 2026, $181,052,000 in existing convertible notes had been tendered, with a minimum condition of 98% of the aggregate principal amount required for the exchange offer. The offer involves exchanging existing notes for new 7.50% Convertible Senior Secured First Lien Notes due 2030, common stock, or prefunded warrants, and purchase warrants.

Gossamer Bio commenced an exchange offer and consent solicitation for its 5.00% Convertible Senior Notes due 2027, aiming to reduce outstanding convertible debt by $128 million to $72 million and extend maturity to 2030. The company also reported a Q1 2026 net loss of $46.7 million, with cash, cash equivalents, and marketable securities totaling $99.2 million as of March 31, 2026, expected to fund operations into Q1 2027. Additionally, Gossamer Bio announced positive PROSERA CT FRI substudy results for seralutinib in PAH and confirmed an in-person Pre-NDA Type B meeting with the FDA in mid-June, with an NDA submission expected in September 2026.