Gossamer Bio falls on discontinuing development of cancer drug

Gossamer Bio

03/04/2023 21:21

** Shares of drug developer Gossamer Bio Inc  GOSS.O  fall
11.1% to $1.12 in extended trading
    ** Co says it has decided to terminate all ongoing studies
and discontinue development of its cancer drug GB5121
    ** The U.S. Food and Drug Administration has placed a
partial clinical hold on all trials of GB5121, in response to
serious adverse events that were observed in early-stage trial
    ** Adverse events such as atrial fibrillation, a sudden
death event and a fatal intracranial hemorrhage were observed in
the trial
    ** Including session's losses, stock down ~48% YTD

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))