Fa­heem Has­nain ac­knowl­edges an­oth­er set­back for the Gos­samer pipeline, but in­vestors aren't pan­ick­ing

Fa­heem Has­nain’s at­tempt to break new ground in treat­ing ul­cer­a­tive col­i­tis at Gos­samer Bio has bro­ken down at the Phase II fin­ish line.

The biotech CEO — best known for sell­ing Re­cep­tos to Cel­gene for $7.2 bil­lion on the promise of ozan­i­mod — put out word Mon­day morn­ing that their mid-stage study for GB004 in UC was a com­plete flop, fail­ing the pri­ma­ry and sec­ondary end­points and forc­ing the end of the ex­ten­sion por­tions of the SHIFT-UC study.

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