Barclays double downgraded Gossamer Bio (GOSS) to Underweight from Overweight with a price target of 30c, down from $9. The company’s Phase 3 pulmonary arterial hypertension highlights the challenges of drug development, the analyst tells investors in a research note. The firm says challenges for Gossamer with a debt balance higher than its current cash. Meanwhile, a potential FDA decision on approval is 18 months away, Barclays points out.
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