12 Best Penny Stocks to Invest in According to the Media

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3. Gossamer Bio, Inc. (NASDAQ:GOSS)

Share Price (As of January 3): $1.02

Number of Hedge Fund Holders: 28

Gossamer Bio, Inc. (NASDAQ:GOSS) is a clinical-stage biopharmaceutical company. The company is engaged in the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH), a type of high blood pressure in the lungs. The company is focused on treatments in the disease areas of immunology, inflammation, and oncology.

Gossamer Bio, Inc.’s (NASDAQ:GOSS) product candidate Seralutinib, GB002, is an investigational treatment for pulmonary arterial hypertension. GB002 is currently under phase three clinical trials and the company expects to commence a global registrational phase three clinical trial of seralutinib. The company also anticipates phase 3 PROSERA Study results in PAH in 2025.

Gossamer Bio, Inc. (NASDAQ:GOSS) has a solid financial position to carry its R&D through 2027, backed by cash and cash equivalents of $327 million, as of Q3 2024. The plus point for Gossamer is its revenue generation from the sale of licenses and contracts with collaborators. In Q3, the company generated $9.5 million in revenue, driven by its R&D contract with an Italian pharmaceutical firm, Chiesi.

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