Tourmaline Bio to be acquired by Novartis for $48/share in ~$1.4B all-cash deal

Tourmaline Bio, Inc.

Cash consideration of $48.00/share; total equity value ~$1.4B.
Premium of 59% to Sept 8 closing price and 127% to 60-day VWAP.
Unanimously approved by both boards; expected to close in Q4 2025.
Driven by Tourmaline's pacibekitug, a long-acting anti-IL-6 mAb for cardiovascular disease.
Tender offer by Novartis subsidiary to commence by Sept 29; requires majority tender and regulatory OK.

item 1.01item 7.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.