Tourmaline Bio Q1 2024 net loss $13.3M; cash $350.3M; Phase 2 TRANQUILITY initiated

Tourmaline Bio, Inc.

2024-Q1 EPS reported -$0.55

Net loss $13.3M ($0.55 basic/diluted loss per share) for Q1 2024, compared to $7.5M ($8.28) in Q1 2023.
Cash, cash equivalents and investments $350.3M as of March 31, 2024, providing cash runway into 2027.
Initiated Phase 2 TRANQUILITY trial in ASCVD/CKD in April 2024; topline data expected in H1 2025.
Plans to initiate pivotal Phase 3 trial for TOUR006 in TED in H2 2024; Phase 2b spiriTED topline in 2025.
Completed $172.5M follow-on offering in January 2024, net proceeds $161.3M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Tourmaline Bio, Inc. reported first quarter ended March 31, 2024 results: net income Net loss was $13.3 million for the first quarter of 2024 and $7.5 million for the first quarter of 2023, resulting in ba.

Period: first quarter ended March 31, 2024
Net income: Net loss was $13.3 million for the first quarter of 2024 and $7.5 million for the first quarter of 2023, resulting in ba
Result: reported results

Exact text from the filing

On May 13, 2024, Tourmaline Bio, Inc. (the “Company”) issued a press release announcing its recent business highlights and financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001827506-24-000032

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