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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