George Clerk
- Oppenheimer launched Gossamer Bio into an outperformance expressing optimism about seralutinib, an inhaled tyrosine kinase inhibitor for the treatment of pulmonary arterial hypertension (PAH).
- The company has a price target of $9 (~984% upside based on June 24 close).
- Analyst Andreas Argyrides said that the safety of the candidate The efficacy profile makes it “the preferred choice among patients with chronic arterial hypertension who do not benefit adequately from currently available treatments,” he said, adding that about 65% of patients take two to three drugs.
- He added that a phase 3 study for PROSERA could allow the drug to penetrate other large markets, while a planned phase 3 trial in pulmonary hypertension associated with interstitial lung disease (PH-ILD) in mid-2025 could also add value.
- Under the partnership with Chiesi Farmaceutici, Gossamer receives a 50/50 dividend split and is also eligible for significant and tiered royalty payments. Gossamer is responsible for global development and US marketing.
