10-Q · May 15, 2026
Gossamer Bio reported a significant increase in revenue for the first quarter of 2026, driven by collaboration with Chiesi, with revenue rising to $16.96 million, up from $9.89 million in the prior year. However, the…
Earnings analysis · 10-Q
GOSS earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
The provided 10-Q extract does not include current-quarter revenue, margins, EPS, cash flow, balance-sheet totals or segment results, so earnings trends cannot be assessed from the filing text supplied. The principal…
Read full summary
The provided 10-Q extract does not include current-quarter revenue, margins, EPS, cash flow, balance-sheet totals or segment results, so earnings trends cannot be assessed from the filing text supplied. The principal developments are the June 2026 debt exchange, a planned September 2026 seralutinib NDA despite PROSERA’s failure to meet its primary endpoint, and significant equity and warrant issuance. Liquidity and refinancing risk remain elevated because the company must maintain $40 million of liquidity and could face an accelerated March 2, 2027 maturity if more than $4.0 million of 2027 Notes remain outstanding.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective at the reasonable-assurance level as of June 30, 2026, and reported no material changes in internal control during the three months ended June 30, 2026.
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Debt exchange reshaped maturities
Following the June 2026 Exchange Offer, the company had $18.948 million of 5.00% convertible notes due 2027 and $65.174 million of 7.50% secured convertible notes due 2030 outstanding.
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Seralutinib NDA remains targeted for 2026
Management continues to plan a seralutinib NDA submission for September 2026 after a June 2026 FDA Type B meeting; the FDA characterized the PROSERA statistical significance and treatment effect as review issues rather than filing issues.
What to watch
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Debt maturities and liquidity pressure
As of June 30, 2026, the company had $18.948 million of 2027 Notes, $65.174 million of 2030 Notes and approximately $134.8 million of other liabilities. The 2030 Notes require minimum liquidity of $40 million and may accelerate to March 2, 2027 if more than $4.0 million of 2027 Notes remain outstanding.
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PROSERA results threaten approval
The Phase 3 PROSERA study did not meet its primary endpoint in February 2026. Although the company plans a September 2026 NDA, the FDA may reject the filing, require additional studies or decline approval based on the totality of the data, including PROSERA and the Phase 2 TORREY study.
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Substantial dilution overhang
The June 2026 Exchange Offer resulted in issuance of 254,150,441 common shares, 33,402,727 prefunded warrants and 135,789,000 purchase warrants. The company also increased authorized common shares from 700,000,000 to 4,000,000,000 on July 14, 2026, leaving substantial potential for further dilution.
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Nasdaq minimum-bid compliance risk
Nasdaq notified the company on April 8, 2026 that its bid price had been below $1.00 for 30 consecutive business days. The initial compliance period ends October 5, 2026, with a possible additional 180-day period subject to meeting other requirements.
Management's outlook
The provided 10-Q text contains no quantitative revenue or EPS guidance. Management plans to submit a seralutinib PAH NDA in September 2026; if accepted for filing, an FDA approval decision could occur in Q3 2027.
Earlier filings 4
10-K · March 17, 2026
Gossamer remains a clinical‑stage biopharma focused on seralutinib; FY2025 revenue was $48.5M (all collaboration-related) while net loss widened to $170.4M and accumulated deficit reached $1,438.9M. The company reported…
10-Q · November 5, 2025
Gossamer Bio reported Q3 revenue of $13.294M (up $3.814M vs. $9.480M in Q3 2024) while net loss widened to $48.2M for the quarter and $123.1M year-to-date. R&D investment increased (seralutinib R&D $45.542M in the…
10-Q · August 5, 2025
Gossamer reported Q2 2025 revenue of $11.5 million versus $95.8 million in Q2 2024 (loss of the one-time license payment), and GAAP net loss of $38.3 million compared with net income of $49.2 million a year ago. R&D…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.