Market News

Gossamer Bio Tanks after Phase 2 Study Results in PAH

Shares of clinical-stage biopharmaceutical company Gossamer Bio (NASDAQ:GOSS) are tanking today after the company announced the results of a Phase 2 study evaluating its product candidate seralutinib for the treatment of pulmonary arterial hypertension (PAH).

While the trial met its primary endpoint, there was one serious adverse event as compared to zero events in the placebo arm of the study.

Shares of the company have now tanked nearly 78% over the past month while the Street has a Strong Buy consensus rating on GOSS alongside an average price target of $18.33.

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