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Dec 30, 2024
Tourmaline Bio Q4 2024 Earnings Report
Tourmaline Bio reported its financial results for the fourth quarter and full year ended December 31, 2024, highlighting progress in clinical development programs and a strong financial position.
Key Takeaways
Tourmaline Bio reported a net loss of $22.2 million for Q4 2024, with cash, cash equivalents, and investments totaling $294.9 million, providing a cash runway into the second half of 2027. The company over-enrolled its Phase 2 TRANQUILITY trial and strengthened its Cardiovascular Scientific Advisory Board.
Phase 2 TRANQUILITY trial over-enrolled to 143 participants, with topline data expected in Q2 2025.
Cash, cash equivalents, and investments stood at $294.9 million as of December 31, 2024, providing a cash runway into the second half of 2027.
Net loss for Q4 2024 was $22.2 million, compared to $12.9 million in Q4 2023.
Strengthened Cardiovascular Scientific Advisory Board with key appointments, including Drs. Deepak L. Bhatt, Dipender Gill, Paul M. Ridker, and Tabassome Simon.
Forward Guidance
Tourmaline Bio anticipates a transformative year in 2025 with key data readouts and continued progress in its clinical development programs, supported by a strong financial position.
Positive Outlook
- Topline data from Phase 2 TRANQUILITY trial expected in Q2 2025.
- Pacibekitug expected to be Phase 3-ready for ASCVD if TRANQUILITY trial is successful.
- Additional details on planned Phase 2 proof-of-concept trial in AAA expected after TRANQUILITY results.
- Topline data from Phase 2b spiriTED trial (Thyroid Eye Disease) expected in H2 2025.
- Current cash runway extends into the second half of 2027.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- Future development plans for TED are contingent on the review of Phase 2b spiriTED trial data.
- The success of pacibekitug in ASCVD is dependent on positive results from the TRANQUILITY trial.
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