Gossamer Bio Inc. (GOSS) PT Lowered to $2 at H.C. Wainwright

H.C. Wainwright analyst Patrick Trucchio lowered the price target on Gossamer Bio Inc. (NASDAQ: GOSS) to $2.00 (from $5.00) while maintaining a Buy rating.

The analyst commented: "On June 15-16, we hosted Gossamer management for a VNDR with buy-side investors, with participation from CFO and COO Bryan Giraudo, CCO Bob Smith, and VP of Corporate Finance and Communications Evan Belcher. Across the VNDR discussions, management reiterated that it expects to receive the minutes from its June Type B in-person meeting with the FDA in mid-July, followed by a discussion of the FDA's feedback on its 2Q26 earnings call in late July or early August. If positive, Gossamer reiterated it expects to submit the new drug application (NDA) for seralutinib in pulmonary arterial hypertension (PAH) in early September, followed by a potential filing acceptance after the approximately 75-day filing review in November, and receiving a potential Prescription Drug User Fee Act (PDUFA) action date around August 2027. While the setup remains dependent on FDA receptivity, we believe the VNDR discussions reinforced the reasoning for Gossamer’s totality-of-evidence NDA filing strategy, which, if approved, would support a potential launch in 2H27. We have updated our model to reflect the June 17 completion of Gossamer's convertible note exchange offer and consent solicitation, which management expects to fully fund its operations through seralutinib's NDA approval, and which we view as creditor's confidence on Gossamer's ability to execute the final steps of the regulatory path to market. While the exchange offer removes Gossamer's balance sheet overhang through potential approval, this update was the primary driver for lowering our price target to $2 per share from $5; given robust upside from current levels, we reiterate our Buy rating on GOSS."

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