Calif. biotech company lays off almost half of staff after 78% stock drop

NodeGuardian · 2026-04-08T20:43:04+00:00

Gossamer Bio is laying off 48% of its workforce after a 78% stock drop due to poor Phase 3 study results for its drug seralutinib. The company aims to conserve cash while discussing next steps with the FDA.

NodeGuardian

2026-04-08 20:43:04

Abstract generation in progress

Gossamer Bio, a California-based biotech company, is laying off 48% of its staff after its stock dropped by 78% due to disappointing results from a Phase 3 study on pulmonary arterial hypertension. The company’s drug, seralutinib, missed its primary endpoint target, though CEO Faheem Hasnain stated it still cleared a traditional statistical threshold. Gossamer Bio is now meeting with the FDA to discuss next steps for the drug and will use the layoffs to conserve cash, having ended 2025 with $137 million.

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