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Gossamer Bio said Tuesday that its experimental drug for pulmonary arterial hypertension achieved the main goal of a mid-stage clinical trial. But the treatment effect was smaller than expected, raising concerns that the drug may not be potent enough to provide a meaningful benefit for patients.

Shares of Gossamer fell 64% to $3 in early trading.


Pulmonary arterial hypertension, or PAH, is a chronic, progressive condition in which high blood pressure in the arteries of the lungs leads to difficulty breathing and walking.

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