Gossamer Bio Faces Nasdaq Delisting Notice

TL;DR

NASDAQ's coming for GOSSAMER's listing, but they've got a hearing to fight it.

AI Summary

Gossamer Bio, Inc. announced on September 11, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has been granted a stay of delisting pending a hearing, and it is working to regain compliance.

Why It Matters

This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq poses a significant risk to the company's market presence and investor relations.

Key Players & Entities

• Gossamer Bio, Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• September 11, 2024 (date) — Date of notice

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-20240911.htm (8-K) — 30KB
• 0001728117-24-000088.txt ( ) — 150KB
• goss-20240911.xsd (EX-101.SCH) — 2KB
• goss-20240911_lab.xml (EX-101.LAB) — 21KB
• goss-20240911_pre.xml (EX-101.PRE) — 12KB
• goss-20240911_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 September 11, 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 July 30, 2024 through September 10, 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 March 10, 2025 (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 determ

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: September 13, 2024 By: /s/ Christian Waage Christian Waage Executive Vice President, Technical Operations & Administration 3