We are investigating Gossamer Bio, Inc. (GOSS) (“Gossamer” or the “Company”) for potential violations of the federal securities laws.
Gossamer’s most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer conducted its initial public offering (“IPO”), issuing approximately 19.8 million shares of common stock priced at $19.00 per share. Then, on December 16, 2019, Novartis announced that it was terminating the development of its DP2 antagonist for asthma after it failed a pair of phase 3 clinical trials. Following this announcement, Gossamer’s stock price fell $9.41 per share, or 37.09%, to close at $15.96 per share on December 16, 2019.