Gossamer Bio Files Q3 2024 10-Q

TL;DR

Gossamer Bio's Q3 10-Q is in: check their collaborator revenue and license income vs. last year.

AI Summary

Gossamer Bio, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue from contracts with collaborators and license and service revenue for the third quarter and the first nine months of 2024, compared to the same periods in 2023. Specific financial figures for these revenue streams are detailed within the filing.

Why It Matters

This filing provides investors with an update on Gossamer Bio's financial performance and revenue generation for the third quarter of 2024, crucial for assessing the company's operational progress and financial health.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Gossamer Bio faces inherent risks related to drug development, regulatory approvals, and market competition, which are typically detailed in 10-Q filings.

Key Numbers

• 2024 Q3 — Reporting Period (Third quarter of fiscal year 2024)
• 2023-09-30 — Comparison Period (Third quarter of fiscal year 2023)
• 2024-01-01 — Year-to-Date Start (Start of the nine-month period for 2024)
• 2023-01-01 — Year-to-Date Start Comparison (Start of the nine-month period for 2023)

Key Players & Entities

• Gossamer Bio, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 2024-01-01 (date) — Start of the reporting period
• 2023-09-30 (date) — Comparison period end date

FAQ

Key Financial Figures

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

Filing Documents

• goss-20240930.htm (10-Q) — 1053KB
• goss-20240930x10qxexx311.htm (EX-31.1) — 10KB
• goss-20240930x10qxexx312.htm (EX-31.2) — 10KB
• goss-20240930x10qxexx321.htm (EX-32.1) — 5KB
• goss-20240930x10qxexx322.htm (EX-32.2) — 5KB
• 0001728117-24-000092.txt ( ) — 6589KB
• goss-20240930.xsd (EX-101.SCH) — 52KB
• goss-20240930_cal.xml (EX-101.CAL) — 72KB
• goss-20240930_def.xml (EX-101.DEF) — 275KB
• goss-20240930_lab.xml (EX-101.LAB) — 683KB
• goss-20240930_pre.xml (EX-101.PRE) — 464KB
• goss-20240930_htm.xml (XML) — 811KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements (unaudited) 4 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months ended September 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 30, 2024 and 2023 (unaudited) 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 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 26 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 36 Item 1A

Risk Factors

Risk Factors 36 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3 Defaults Upon Senior Securities 36 Item 4 Mine Safety Disclosures 37 Item 5 Other Information 37 Item 6 Exhibits 37 Exhibit Index 38

Signatures

Signatures 39 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) September 30, 2024 December 31, 2023 ASSETS (unaudited) Current assets Cash and cash equivalents $ 28,464 $ 32,109 Marketable securities 298,570 264,316 Receivable from contracts with collaborators 6,588 — Prepaid expenses and other current assets 10,646 10,094 Total current assets 344,268 306,519 Property and equipment, net 302 1,648 Operating lease right-of-use assets 6,026 3,131 Other assets 283 618 Total assets $ 350,879 $ 311,916 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 3,057 $ 5,526 Accrued research and development expenses 10,278 7,779 Current portion of long-term debt — 11,613 Current contract liabilities 20,327 — Accrued expenses and other current liabilities 17,423 26,680 Total current liabilities 51,085 51,598 Long-term convertible senior notes 197,285 196,591 Long-term debt — 814 Operating lease liabilities - long-term 4,593 144 Long-term contract liabilities 43,780 — Total liabilities 296,743 249,147 Commitments and contingencies (Note 9) Stockholders' equity Common stock, $ 0.0001 par value; 700,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 226,604,138 shares issued and outstanding as of September 30, 2024, and 225,409,315 shares issued and outstanding as of December 31, 2023 23 23 Additional paid-in capital 1,291,883 1,275,136 Accumulated deficit ( 1,235,539 ) ( 1,212,040 ) Accumulated other comprehensive loss ( 2,231 ) ( 350 ) Total stockholders' equity 54,136 62,769 Total liabilities and stockholders' equity $ 350,879 $ 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,