Gossamer Bio Faces Delisting Concerns

TL;DR

Gossamer Bio might get delisted - big trouble for the stock.

AI Summary

Gossamer Bio, Inc. filed an 8-K on May 24, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in San Diego, California, and its principal executive offices are located at 3013 Science Park Road.

Why It Matters

This filing indicates potential issues with Gossamer Bio's compliance with stock exchange listing requirements, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial health.

Key Players & Entities

• Gossamer Bio, Inc. (company) — Registrant
• May 22, 2024 (date) — Date of earliest event reported
• May 24, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 3013 Science Park Road (address) — Address of Principal Executive Offices
• San Diego, California (location) — Principal Executive Offices Location
• 001-38796 (identifier) — Commission File Number

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share GOSS Nasdaq Global
• $1.00 — d not maintained a minimum bid price of $1.00 per share, required for continued listi

Filing Documents

• goss-20240522.htm (8-K) — 30KB
• 0001728117-24-000059.txt ( ) — 150KB
• goss-20240522.xsd (EX-101.SCH) — 2KB
• goss-20240522_lab.xml (EX-101.LAB) — 21KB
• goss-20240522_pre.xml (EX-101.PRE) — 12KB
• goss-20240522_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 22, 2024, Gossamer Bio, Inc. (the "Company") received a written notice from the staff (the "Staff") of the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq"), notifying the Company that, for the 30 consecutive business day period between April 10, 2024 through May 21, 2024, the Company's common stock, $0.0001 par value per share (the "Common Stock"), had not maintained a minimum bid price of $1.00 per share, required for continued listing on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement"). Nasdaq's written notice does not result in the immediate delisting of the Common Stock from the Nasdaq Global Market In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the "Compliance Period Rule"), the Company has 180 calendar days, or until November 18, 2024 (the "Compliance Date"), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price for the Common Stock must be at least $1.00 per share for a minimum of ten consecutive business days before the Compliance Date. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to transfer its listing to the Nasdaq Capital Market and meet the continued listing requirement for the market value of publicly held shares and all other applicable initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and would need to provide written notice to Nasdaq of its intention to cure the deficiency during the additional 180-day compliance period, such as by effecting a reverse stock split, if necessary. As part of its review process, the Staff will make a determination o

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GOSSAMER BIO, INC. Date: May 24, 2024 By: /s/ Christian Waage Christian Waage Executive Vice President, Technical Operations & Administration 3