Investigation of Gossamer Bio, Inc.
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Shareholder Alert: Robbins LLP Reminds Investors It Is Investigating Gossamer Bio, Inc. (GOSS) on Behalf of Shareholders
April 29, 2020 (San Diego, CA) – Shareholder rights law firm Robbins LLP reminds investors it is investigating Gossamer Bio, Inc. (NYSE: GOSS) for potential violations of federal securities laws and breaches of fiduciary duty by its board members and executive officers. In its initial public offering, Gossamer offered approximately 19.8 million shares at $19.00 per share, raising gross proceeds of $317.4 million. Gossamer’s leading product is its GB001 drug, which is a DP2 antagonist drug for the treatment of asthma. However, on December 16, 2019, Novartis announced it was terminating the development of its similar DP2 antagonist drug for asthma after it failed a pair of phase 3 clinical trials. On this news, Gossamer’s stock plummeted 37% to close at $15.96 per share, representing a 16% decline from its IPO price.