Core Insights - Tourmaline Bio, Inc. reported its financial results for Q4 and the full year of 2024, highlighting significant advancements in its clinical development programs, particularly in cardiovascular inflammation and thyroid eye disease [1][2] Financial Performance - As of December 31, 2024, Tourmaline had cash, cash equivalents, and investments totaling 203.0 million as of December 31, 2023, providing a cash runway into the second half of 2027 [7][19] - Research and development expenses for Q4 2024 were 8.0 million in Q4 2023, and for the full year, they reached 32.4 million in 2023 [12] - General and administrative expenses for Q4 2024 were 6.9 million in Q4 2023, while for the full year, they increased to 13.0 million [12] - The net loss for Q4 2024 was 12.9 million in Q4 2023, resulting in a basic and diluted net loss per share of $0.86 [12][13] Clinical Development Highlights - The Phase 2 TRANQUILITY trial has over-enrolled with 143 participants, exceeding the initial target of 120, and is on track to report topline data in Q2 2025 [5][6] - Tourmaline is focusing on pacibekitug for the treatment of atherosclerotic cardiovascular disease (ASCVD) and thyroid eye disease (TED), with plans to expand into abdominal aortic aneurysm (AAA) [6][15] - The company has strengthened its Cardiovascular Scientific Advisory Board with the addition of notable experts, enhancing its strategic guidance for the development of pacibekitug [6][11] Upcoming Milestones - Topline data from the TRANQUILITY trial is expected in the second quarter of 2025, which is crucial for advancing pacibekitug towards Phase 3 readiness for ASCVD [2][6] - Additional details on a planned Phase 2 proof-of-concept trial in AAA will be provided after the TRANQUILITY trial results [6]
Tourmaline Bio Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Business Highlights