Goldman says Gossamer's new deal validates attractive opportunity for seraltunib
Goldman Sachs notes that Gossamer Bio has announced that it has reached an agreement with Chiesi Farmaceutici to commercialize and further develop seralutinib, which in the firm's view provides external validation of a competitive, de-risked PAH asset that has been largely dismissed by the market. More specifically, the agreement calls for advancing the development of seralutinib in pulmonary hypertension associated with interstital lung disease, or PH-ILD, to co-commercialize seralutinib in PH-ILD and pulmonary arterial hypertension, or PAH, in the U.S., and to form a royalty agreement in an out-licensing royalty deal of seralutinib's ex-U.S. rights to Chiesi. The immediate development reimbursement payment of $160M improves Gossamer's capital position, in Goldman's view. The firm has a Buy rating on the shares with a price target of $8.
