According to the Complaint, Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing, and commercializing therapeutics in the disease 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 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 June 30, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 31. On November 20, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on January 19, 2021. On April 19, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On October 29, 2021, the parties notified the Court that they had reached a settlement in principle to resolve the action. On February 1, 2022, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on March 14. On September 30, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.