Gossamer Bio regains Nasdaq minimum bid price compliance

The compliance letter

Gossamer Bio, Inc. (Nasdaq: GOSS) received a letter from the Nasdaq Listing Qualifications Department on September 25, 2026. The letter says the company now meets the minimum bid price requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1), and that the matter is closed. The 8-K, signed by Christian Waage, executive vice president and general counsel, ties the letter to an April 8, 2026 notice. That earlier notice said the common stock had failed to maintain a minimum bid price of $1.00 or more for 30 consecutive business days.

The split and the business

The company effected a 1-for-80 reverse stock split on September 10, 2026. A reverse split combines existing shares into fewer shares. The stock began trading on a split-adjusted basis on the Nasdaq Global Select Market on September 11, 2026. The 8-K treats the split as a previously disclosed event and repeats the September 10 and September 11 dates. It does not give the share count after the split or the trading price since then.

Gossamer is a clinical-stage biopharmaceutical company developing seralutinib for pulmonary arterial hypertension and for pulmonary hypertension associated with interstitial lung disease. Its Phase 3 PROSERA study and Phase 2 TORREY study are the basis of its regulatory plans. The 10-K filed March 17, 2026 says the company announced PROSERA topline results in February 2026. The company says the totality of PROSERA and TORREY data "demonstrates a risk benefit profile that supports continued regulatory dialogue".

The 10-K lists three near-term priorities: completing in-depth analyses of the PROSERA dataset, engaging the FDA for feedback on possible regulatory paths, and evaluating strategic options and resource allocation "in addition to strengthening our capital structure". The company has paused SERANATA enrollment "to support disciplined resource allocation and to evaluate the implications of PROSERA". Its open-label extension studies remain active.

The approval timeline is conditional. The company says its decision to submit a new drug application, and the timing of any submission, will depend on ongoing PROSERA analyses and FDA feedback. It anticipates a potential approval action date by year-end 2027, but only if an application is submitted and accepted for substantive review. The 8-K does not mention any of these steps.

The money

Revenue was $48.5 million in 2025, against $114.7 million in 2024. Research and development expense rose to $174.1 million from $138.5 million. The net loss was $170.4 million in 2025, against $56.5 million a year earlier, and cash used in operations was $171.3 million. These figures are from the 10-K.

Cash and cash equivalents were $37.7 million and short-term investments were $99.2 million at the end of 2025. At June 30, 2026, cash and cash equivalents were $41.1 million and short-term investments were $15.9 million, according to its 10-Q. At the end of 2024 the company held $46.1 million in cash and cash equivalents and $248.4 million in short-term investments. The 8-K gives no current cash balance and does not mention financing of any kind.

Closing the bid price matter removes one listing problem. It does not change the cost base behind the 2025 loss. Revenue fell from $114.7 million in 2024 to $48.5 million in 2025, research spending rose, and the company used $171.3 million in operations in 2025 while holding $41.1 million in cash and cash equivalents and $15.9 million in short-term investments at June 30, 2026. The 10-K says the company is evaluating alternatives for its outstanding convertible notes and may raise capital through equity offerings, debt financings or other sources. The share count is now much smaller after the split, and the regulatory path still depends on steps the company has not yet taken. The approval date it gives depends on an application it has not yet decided to submit.

Report an error

Companies in this story

GOSSGossamer Bio, Inc.NASDAQ · United StatesOpen the starter desk