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Gossamer's Phase 2 Trials Of Oral GB001 In Asthma And Chronic Rhinosinusitis Fail To Meet Main Goal

Shares of Gossamer Bio Inc. (GOSS) dropped more than 31 percent after the company said that two studies in GB001, phase 2b LEDA trial in moderate-to-severe eosinophilic asthma and Phase 2 TITAN trial in chronic rhinosinusitis, did not meet the primary endpoints. The company will discontinue development of GB001 in chronic rhinosinusitis.

In Tuesday pre-market trade, GOSS was trading at $9.30, down $4.29 or 31.57 percent.

The 480-subject LEDA study did not achieve statistical significance on the primary endpoint. But it was encouraged by the consistent results observed for all three doses of once-daily, oral GB001 therapy across the primary and secondary endpoints.

In addition, statistically significant improvements in the key secondary endpoint of time to first asthma worsening as compared to placebo were observed for GB001 20 mg and 60 mg, with GB001 40 mg also demonstrating a numeric improvement.

The company noted that the LEDA Study informed on the phase 3 registrational endpoint, the optimal patient population and dose selection for future studies.

Meanwhile, the company stated that the Phase 2 Titan study in 97 chronic rhinosinusitis patients has failed to meet primary endpoint as well as secondary endpoint. The safety and tolerability of GB001 40 mg was generally consistent with that observed in the LEDA Study. The company does not plan to continue further development of GB001 in chronic rhinosinusitis, Gossamer Bio said.

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