- Tourmaline Bio (TRML, Financial) reports a strong cash position of $275.3M, providing financial runway into the second half of 2027.
- The Phase 2 TRANQUILITY trial is over-enrolled with 143 participants, with topline data expected in Q2 2025.
- Research and development expenses nearly doubled to $20.3M in Q1 2025, compared to $11.4M in Q1 2024.
Tourmaline Bio (TRML) has released its financial results for the first quarter of 2025, highlighting a robust cash position of $275.3 million as of March 31, 2025. This cash reserve is projected to support the company's operations and clinical developments into the second half of 2027. The cash position decreased from $294.9 million at the end of 2024, reflecting a calculated quarterly expenditure.
The company's research and development (R&D) expenses increased significantly to $20.3 million, up from $11.4 million during the same period in 2024. This rise is attributed to expanded clinical trials and staffing aimed at advancing the development of pacibekitug, Tourmaline's lead asset, which is being explored for the treatment of several conditions, including atherosclerotic cardiovascular disease (ASCVD) and abdominal aortic aneurysm (AAA).
Tourmaline’s net loss for Q1 2025 was reported at $23.0 million, translating to a loss of $0.89 per share. This is an increase from the $13.3 million net loss ($0.55 per share) reported in Q1 2024, reflecting strategic investments into their R&D activities.
On the clinical front, the Phase 2 TRANQUILITY trial investigating pacibekitug in patients with elevated high-sensitivity C-reactive protein and chronic kidney disease has been over-enrolled with 143 participants, surpassing the initial target of 120. Tourmaline remains on track to release topline data in the second quarter of 2025.
The company is also continuing with the Phase 2b spiriTED trial for thyroid eye disease, with results anticipated in the second half of 2025. Further developments for pacibekitug, including its application in abdominal aortic aneurysm, are expected to be detailed following the TRANQUILITY data readout.
