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Tourmaline Bio Q1 2025 Earnings Report
Tourmaline Bio reported its first quarter 2025 financial results, highlighting progress in its clinical trials and providing an update on its financial position.
Key Takeaways
Tourmaline Bio announced its financial results for the first quarter of 2025, with a net loss of $22.97 million. The company's Phase 2 TRANQUILITY trial for pacibekitug remains on track for topline data readout in the second quarter of 2025, and cash, cash equivalents, and investments of $275.3 million are expected to provide a cash runway into the second half of 2027.
Phase 2 TRANQUILITY trial for pacibekitug in cardiovascular inflammation is on track for topline data readout in Q2 2025.
Cash, cash equivalents, and investments totaled $275.3 million as of March 31, 2025, providing a cash runway into the second half of 2027.
Net loss for Q1 2025 was $22.97 million, compared to $13.31 million in Q1 2024.
Research and development expenses increased to $20.258 million in Q1 2025 from $11.376 million in Q1 2024, driven by increased clinical trial expenses.
Forward Guidance
Tourmaline Bio anticipates key data readouts for its pacibekitug programs and expects its current cash to fund operations into the second half of 2027.
Positive Outlook
- Phase 2 TRANQUILITY trial for pacibekitug remains on track for topline data readout in Q2 2025.
- Expected cash runway into the second half of 2027, funding key pacibekitug data readouts.
- TRANQUILITY trial results are expected to position pacibekitug to be Phase 3-ready for ASCVD.
- Planned Phase 2 proof-of-concept trial in abdominal aortic aneurysm (AAA) to be detailed with TRANQUILITY data.
- Phase 2b spiriTED trial remains ongoing with topline data expected in the second half of 2025.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The company did not provide specific revenue or profit guidance.
- Future success is dependent on positive clinical trial results.
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