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Jun 30, 2021
Tourmaline Bio Q2 2021 Earnings Report
Reported financial results for the second quarter of 2021 and provided a business update.
Key Takeaways
Talaris Therapeutics reported its Q2 2021 financial results, highlighting progress with FREEDOM-1 trial and plans for FREEDOM-2 and FREEDOM-3 trials. The company's cash, cash equivalents, and marketable securities totaled $266.2 million, expected to fund operations into 2025.
On track to provide FREEDOM-1 initial clinical update before year-end.
Plans to initiate FREEDOM-2 and FREEDOM-3 trials.
Expects to disclose additional indication for FCR001 before the end of the year.
Finished the second quarter with $266.2 million in cash, cash equivalents and marketable securities.
Forward Guidance
Talaris Therapeutics is focused on advancing its clinical trials, including FREEDOM-1, FREEDOM-2, and FREEDOM-3, and expects to announce an additional indication for FCR001 before the end of 2021.
Positive Outlook
- On track to provide FREEDOM-1 initial clinical update later this year.
- Expanding clinical trial footprint to 14 active sites in the United States.
- Remains on track to initiate a Phase 2 (FREEDOM-2) trial for FCR001 in delayed tolerance induction in the fourth quarter of 2021.
- Remains on track to initiate its first clinical trial in autoimmune diseases with its FREEDOM-3 trial in the fourth quarter of 2021.
- Remains on track to announce an additional target indication for FCR001 relating to a severe non-malignant blood, immune or metabolic disorder before the end of 2021.
Challenges Ahead
- Risks associated with the impact of COVID-19 on the timing and anticipated timing and results of its clinical trials.
- Risk that the results of Talaris’ clinical trials may not be predictive of future results in connection with future clinical trials.
Historical Earnings Impact
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