Gossamer Bio, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Gossamer Bio, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Gossamer Bio, Inc. (GOSS) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Gossamer Bio, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. The filing was made on May 7, 2024. The company's principal executive offices are located in San Diego, CA. The SIC code for the company is Pharmaceutical Preparations [2834].

Why It Matters

For investors and stakeholders tracking Gossamer Bio, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and operational status for the first quarter of 2024. The detailed financial information within the report is crucial for understanding the company's current financial health and its trajectory.

Risk Assessment

Risk Level: low — Gossamer Bio, Inc. shows low risk based on this filing. The risk is low as this is a standard quarterly filing (10-Q) and does not indicate any immediate or significant negative events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Gossamer Bio's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period)
• 2023-01-01 — Prior Year Quarter Start Date (Comparative period)

Key Players & Entities

• Gossamer Bio, Inc. (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• San Diego, CA (location) — Business and mail address
• 2834 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Gossamer Bio, Inc. operates within the Pharmaceutical Preparations industry, focusing on the development of therapeutics.

Regulatory Implications

As a publicly traded company, Gossamer Bio, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) detailing its financial condition and operations.

What Investors Should Do

1. Analyze the financial statements in the 10-Q for revenue, expenses, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-07: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024, providing the first look at the company's financial and operational status for Q1 2024.

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share GOSS Nasdaq Global

Filing Documents

• goss-20240331.htm (10-Q) — 791KB
• goss-20240331x10qxexx311.htm (EX-31.1) — 10KB
• goss-20240331x10qxexx312.htm (EX-31.2) — 10KB
• goss-20240331x10qxexx321.htm (EX-32.1) — 5KB
• goss-20240331x10qxexx322.htm (EX-32.2) — 5KB
• 0001728117-24-000056.txt (&nbsp;) — 5494KB
• goss-20240331.xsd (EX-101.SCH) — 48KB
• goss-20240331_cal.xml (EX-101.CAL) — 66KB
• goss-20240331_def.xml (EX-101.DEF) — 225KB
• goss-20240331_lab.xml (EX-101.LAB) — 615KB
• goss-20240331_pre.xml (EX-101.PRE) — 414KB
• goss-20240331_htm.xml (XML) — 633KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements (unaudited) 4 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three Months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2024 and 2023 (unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 30 Item 1A

Risk Factors

Risk Factors 30 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3 Defaults Upon Senior Securities 30 Item 4 Mine Safety Disclosures 30 Item 5 Other Information 31 Item 6 Exhibits 31 Exhibit Index 32

Signatures

Signatures 33 3 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) GOSSAMER BIO, INC. Condensed Consolidated Balance Sheets (in thousands, except share and par value amounts) March 31, 2024 December 31, 2023 ASSETS (unaudited) Current assets Cash and cash equivalents $ 38,863 $ 32,109 Marketable securities 205,531 264,316 Prepaid expenses and other current assets 10,875 10,094 Total current assets 255,269 306,519 Property and equipment, net 1,074 1,648 Operating lease right-of-use assets 2,404 3,131 Other assets 613 618 Total assets $ 259,360 $ 311,916 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,660 $ 5,526 Accrued research and development expenses 8,929 7,779 Current portion of long-term debt 9,589 11,613 Accrued expenses and other current liabilities 14,641 26,680 Total current liabilities 35,819 51,598 Long-term convertible senior notes 196,819 196,591 Long-term debt — 814 Operating lease liabilities - long-term — 144 Total liabilities 232,638 249,147 Commitments and contingencies (Note 9) Stockholders' equity Common stock, $ 0.0001 par value; 700,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 226,218,653 shares issued and outstanding as of March 31, 2024, and 225,409,315 shares issued and outstanding as of December 31, 2023 23 23 Additional paid-in capital 1,281,295 1,275,136 Accumulated deficit ( 1,253,968 ) ( 1,212,040 ) Accumulated other comprehensive loss ( 628 ) ( 350 ) Total stockholders' equity 26,722 62,769 Total liabilities and stockholders' equity $ 259,360 $ 311,916 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 Table of Contents GOSSAMER BIO, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per share amounts) Three months ended March 31, 2024 2023 Operating expenses: Research and development $ 32,392 $ 37,795 In