Gossamer collaboration should accelerate development, says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating on Gossamer Bio with a $10 price target after the company announced a global collaboration and license agreement with Chiesi Farmaceutici. The agreement should accelerate Phase 3 development of Gossamer’s lead program seralutinib in pulmonary hypertension associated with interstitial lung disease, the analyst tells investors in a research note. The firm says the Chiesi collaboration supports its confidence in seralutinib’s potential by potentially allowing the program to advance directly into a Phase 3 registrational study in PH-ILD Group III patients, which Gossamer and Chiesi expect to initiate in mid-2025.