Gossamer Bio, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the Securities and Exchange Commission on November 10, 2026, disclosing a net loss of $77.836 million for the nine months ended September 30, 2026, alongside a significant restructuring of its convertible notes and new warrant liabilities on its balance sheet.

Key Highlights

  • Net loss for nine months: Gossamer Bio reported a net loss of $77.836 million for the nine months ended September 30, 2026, compared to a net loss of $123.132 million for the same period in 2025.
  • Q3 2026 revenue: Revenue from contracts with collaborators was $38.431 million for the three months ended September 30, 2026, up from $13.294 million in Q3 2025.
  • Gain on debt extinguishment: The company recorded a gain on debt extinguishment of $43.846 million for the nine months ended September 30, 2026.
  • New warrant and derivative liabilities: As of September 30, 2026, the balance sheet carried a long-term warrant liability at fair value of $84.492 million and an embedded derivative liability at fair value of $37.369 million, neither of which appeared as of December 31, 2025.
  • Shares outstanding: As of November 7, 2026, the registrant had 6,116,390 shares of common stock outstanding, up from 2,920,964 shares as of December 31, 2025.
  • Accumulated deficit: The accumulated deficit reached $1.516774 billion as of September 30, 2026, compared to $1.438938 billion as of December 31, 2025.
  • Cash position: Cash and cash equivalents stood at $51.189 million as of September 30, 2026, while marketable securities of $99.200 million held at December 31, 2025 were reduced to zero.

Gossamer Bio's Notes Exchange, Warrant Liabilities, and Financial Results Through September 2026

According to the filing, Gossamer Bio (NASDAQ:GOSS) underwent a material restructuring of its debt during the nine months ended September 30, 2026. The company issued common stock and warrants in connection with the exchange of its 2027 Notes, adding 3,176,881 shares and generating $47.801 million in net proceeds to additional paid-in capital. The long-term convertible senior notes balance of $198.508 million carried at December 31, 2025 was reclassified: as of September 30, 2026, the filing shows $37.150 million in current convertible senior notes and no long-term convertible senior notes balance. The company also recorded a $43.846 million gain on debt extinguishment for the nine-month period.

The income statement reflects a remeasurement loss on the warrant liability of $54.929 million and a remeasurement gain on the derivative liability of $9.682 million for the nine months ended September 30, 2026, items with no corresponding figures in the prior-year period. Research and development expenses for the nine months were $88.315 million, down from $125.158 million in the same period of 2025. General and administrative expenses increased to $37.283 million from $26.727 million year over year. Revenue from contracts with collaborators rose to $64.624 million for the nine months, compared to $34.672 million in the prior-year period.

The company's total assets declined to $64.337 million as of September 30, 2026, from $172.249 million at December 31, 2025, primarily reflecting the reduction in marketable securities and receivables from collaborators. Total liabilities also decreased to $187.132 million from $295.009 million. Total stockholders' deficit was $(122.795) million as of September 30, 2026, compared to $(122.760) million at December 31, 2025. The authorized share count was increased to 50,000,000 shares from 8,750,000 shares (after giving effect to a reverse stock split), according to the filing.

What Was Disclosed

Gossamer Bio filed its Form 10-Q for the quarter ended September 30, 2026, disclosing a nine-month net loss of $77.836 million, a debt exchange involving its 2027 Notes, the emergence of significant warrant and embedded derivative liabilities, and an increase in collaboration revenue compared to the prior year.