Gossamer Bio, Inc. has announced that its board of directors has selected a 1-for-80 reverse stock split ratio for its common stock. The split is scheduled to become effective at 11:59 p.m. Eastern Time on September 10, 2026. Following the split, shares of common stock are expected to begin trading on a split-adjusted basis on the Nasdaq Global Select Market at the market open on September 11, 2026. The company will continue to trade under the existing symbol "GOSS" and will be assigned a new CUSIP number of 38341P 201.
The reverse stock split is intended to help the company regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. Under the terms of the split, every 80 shares of common stock issued and outstanding immediately prior to the effective time will be automatically reclassified and combined into one share. No fractional shares will be issued; instead, holders of record entitled to a fraction of a share will receive a fraction necessary to round up to the nearest whole share. This applies to shares held through The Depository Trust Company and those held in street name by brokers or nominees.
In connection with the split, the company is also reducing the number of authorized shares of common stock. The authorized shares of common stock will be reduced from 4,000,000,000 to 50,000,000. Additionally, the total number of authorized shares of capital stock will be reduced from 4,070,000,000 to 120,000,000. The par value of the common stock remains unchanged.
The reverse stock split will proportionately adjust the conversion rates of outstanding convertible notes, the number of shares issuable upon exercise of warrants and prefunded warrants, and the number of shares subject to outstanding equity awards. The number of shares reserved for future issuance under the company’s equity incentive plans will also be proportionately reduced. The company cautions that the reverse stock split may not result in a sustained increase in the price of the common stock or satisfy the Nasdaq minimum bid price requirement.
