BOSTON, MA / ACCESSWIRE / May 18, 2020 / Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, reminds shareholders that it filed the first class action lawsuit on behalf of shareholders against Gossamer Bio, Inc. (GOSS) and certain of its officers and directors for securities fraud. The lead plaintiff deadline is June 2, 2020. Investors who purchased Gossamer shares between February 8, 2019 and December 13, 2019, should contact the firm for a free case evaluation.
Gossamer is a clinical-stage biopharmaceutical company focused on developing and commercializing therapeutics in the areas of immunology, inflammation, and oncology. The company's most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer held its initial public offering ("IPO") of common stock, selling approximately 19.8 million shares at $16.00 each.
The complaint, filed in the U.S. District Court for the Southern District of California and assigned to Judge Dana M. Sabraw, alleges that the materials supporting this offering, and certain of Gossamer's post-IPO public filings, may have misled investors or otherwise omitted material facts relevant to Gossamer's GB001 drug and its related clinical trials and studies.
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. As a result, Gossamer's common stock dropped by approximately 37% in one day.
If you purchased or acquired shares of Gossamer common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at email@example.com, or at https://shareholder.law/gossamer. Gossamer investors who purchased or otherwise acquired shares of Gossamer common stock may, no later than June 2, 2020, seek to be appointed as a lead plaintiff representative of the Class.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP
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