An investigation on behalf of investors of Gossamer Bio, Inc. (NASDAQ: GOSS) shares over potential securities laws violations by Gossamer Bio, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Gossamer Bio, Inc. (NASDAQ: GOSS) concerning whether a series of statements by Gossamer Bio, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Diego, CA based Gossamer Bio, Inc., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. Gossamer Bio, Inc's most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer Bio, Inc conducted its initial public offering ('IPO'), issuing approximately 19.8 million shares of common stock priced at $19.00 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.

Shares of Gossamer Bio, Inc. (NASDAQ: GOSS) declined from $26.50 per share on December 04, 2019 to as low as $7.52 per share on March 18, 2020.