GOSS - Gossamer Bio to raise $120 in a private equity placement
- Gossamer Bio ( NASDAQ: GOSS ) to sell approximately 16.6M shares of its common stock at $7.21/share in a private placement.
- Gross proceeds are expected to be approximately $120M.
- The financing is expected to close on July 15.
- “We are very pleased this high-quality group of investors came together to support the seralutinib program at this important juncture,” said Faheem Hasnain, Chairman, Co-Founder and CEO of Gossamer. “These additional funds will allow us to accelerate and expand our investment in seralutinib ahead of the Phase 2 TORREY Study topline results in the fourth quarter of this year.”
- In addition to supporting the seralutinib program, the company intends to use the net proceeds to fund research and development of its other product candidates and development programs and for working capital and general corporate purposes.
- The proceeds from this financing, combined with current cash, cash equivalents and marketable securities, and access to its debt facility is expected to be sufficient to fund operating and capital expenditures into mid-2024.
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Gossamer Bio to raise $120 in a private equity placement