NEW YORK, May 21, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors Gossamer Bio, Inc. (“Gossamer” or the “Company”) (GOSS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Gossamer and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Gossamer’s most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. On or around February 8, 2019, Gossamer conducted its initial public offering (“IPO”), selling 19,837,500 shares of common stock priced at $16.00 per share. Then, on December 16, 2019, Novartis announced that it was terminating the development of its DP2 antagonist for asthma after it failed a pair of phase 3 clinical trials.
Following this announcement, Gossamer’s stock price fell $9.41 per share, or 37.09%, to close at $15.96 per share on December 16, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby