Gossamer gets lift from $120M private placement with crossovers

With a key hypertension readout due next quarter and a second Btk program moving toward the clinic, Gossamer has turned to a crossover syndicate for a $120 million private placement that extends its runway to mid-2024.

The deal lifted shares of Gossamer Bio Inc. (NASDAQ:GOSS) on Wednesday by 32% to $9.51. The biotech sold 16.6 million shares ahead of the session at Tuesday’s closing price of $7.21...