Gossamer Bio CEO Faheem Hasnain at Endpoints' #BIO22 panel (J.T. MacMillan Photography for Endpoints News)

Fa­heem Has­nain gets a $212M stake to­geth­er for his big PhI­II gam­ble — here’s why in­vestors are let­ting it ride

Fa­heem Has­nain has his back against the wall — but he isn’t about to quit now.

This morn­ing the Gos­samer CEO is tak­ing the wraps off a $212 mil­lion pri­vate place­ment to pay for a Phase III study he adamant­ly be­lieves will show the block­buster val­ue of his lead drug — ser­a­lu­tinib — for pul­monary ar­te­r­i­al hy­per­ten­sion, or PAH.

Ac­tu­al­ly, af­ter he laid off about a quar­ter of the staff and carved down the pipeline to the late-stage treat­ment, it’s his on­ly drug in the pipeline.

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