Gossamer Bio reported a net income of $16.9 million for Q2 2026, driven by a $43.8 million gain on debt extinguishment from exchanging approximately $115.9 million in convertible notes. The company reacquired worldwide rights to its lead drug seralutinib from Chiesi for a one-time $5 million payment and plans to submit an NDA for PAH in September 2026 following FDA feedback. Stockholders previously approved the note exchange and authorized a reverse stock split, though the specific ratio and effective date remain subject to Board approval. Cash reserves totaled $57.0 million as of June 30, 2026. Gossamer Bio is a clinical-stage biopharmaceutical company focused on developing seralutinib for pulmonary arterial hypertension.
