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Jun 30, 2024
Tourmaline Bio Q2 2024 Earnings Report
Reported financial results for the second quarter of 2024 and outlined recent business highlights.
Key Takeaways
Tourmaline Bio reported its second quarter 2024 financial results. The company's cash, cash equivalents and investments were $334.4 million as of June 30, 2024, providing cash runway into 2027. First patient was dosed in May 2024 in Phase 2 TRANQUILITY trial. Company is on track to initiate a pivotal Phase 3 trial evaluating pacibekitug delivered subcutaneously every 8 weeks as first-line treatment for Thyroid Eye Disease (TED) in the second half of 2024.
First patient dosed in May 2024 in Phase 2 TRANQUILITY trial evaluating pacibekitug (TOUR006) in patients with high cardiovascular risk.
On track to initiate a pivotal Phase 3 trial evaluating pacibekitug delivered subcutaneously every 8 weeks as first-line treatment for Thyroid Eye Disease (TED) in the second half of 2024.
Added to the Russell 2000® Index and the broad-market Russell 3000® Index in June 2024.
Cash, cash equivalents and investments of $334.4 million as of June 30, 2024, providing cash runway into 2027.
Forward Guidance
Tourmaline anticipates that its current cash, cash equivalents and investments will provide cash runway into 2027, funding key pacibekitug data readouts in TED and cardiovascular disease and the opportunity to expand development efforts into additional indications.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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