Gossamer Bio Pulls Plug On Mid-Stage Ulcerative Colitis Program

Gossamer Bio Inc GOSS shares are falling after announcing topline results from its Phase 2 SHIFT-UC Study trial of GB004 in patients with mild-to-moderate active ulcerative colitis (UC).
Neither GB004 treatment arm met the primary or secondary endpoints at week 12.
Gossamer will terminate the ongoing treat-through and open-label extension portions of the Phase 2 SHIFT-UC Study for lack of treatment benefit.
In the placebo-controlled period, two active dose regimens of GB004 were compared to placebo. The primary endpoint was the proportion of participants with clinical remission.
Neither statistically significant nor clinically meaningful differences were observed for the primary endpoint at week 12.
There were no meaningful differences in secondary endpoints, including histologic and mucosal healing endpoints, for either GB004 treatment group relative to placebo at week 12.
The Company has seralutinib (GB002) Phase 2 TORREY Study in pulmonary arterial hypertension with topline data expected in Q4 of 2022.
As of March 31, 2022, Gossamer estimates that its cash, cash equivalents, and marketable securities were approximately $272 million.
Price Action: GOSS shares 10.7% at $7.86 during the premarket session on the last check Monday.