Tourmaline Bio Inc (OQ:TRML)
Business Focus: Bio Therapeutic Drugs
| Sector: Healthcare | Industry: Biotechnology & Medical Research |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 27 West 24th Street, Suite 702 NEW YORK NY 10010 |
| Tel: | N/A |
| Website: | https://www.tourmalinebio.com |
| IR: | See website |
| Key People | ||
| Clay B. Siegall Chairman of the Board | Sandeep Kulkarni Chief Executive Officer, Director | Ryan Robinson Interim Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) |
| Susan Dana Jones Chief Technology Officer | Brad Middlekauff Chief Business Officer and General Counsel | Kevin Johnson Chief Regulatory Officer | Chyung Yung Chief Medical Officer |
| Business Overview |
| Tourmaline Bio, Inc. is a late-stage clinical biotechnology company. The Company is focused on developing transformative medicines that improve the lives of patients with life-altering immune and inflammatory diseases. The Company's initial product candidate is TOUR006, a fully human monoclonal antibody that selectively binds to interleukin-6 (IL-6), a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders. TOUR006 is a long-acting anti-IL-6 antibody which has properties, including a high binding affinity to IL-6, long half-life, and low observed immunogenicity. It is also developing TOUR006 in thyroid eye disease (TED) and atherosclerotic cardiovascular disease (ASCVD) as its first two indications, with additional diseases under consideration. It is focused on two strategic paths for TOUR006, the first of which it refers to as FcRn+. Its second strategic path is cardiovascular inflammation. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Tourmaline Bio Inc revenues was not reported. Net loss decreased 43% to $42.1M. Lower net loss reflects Research and development decrease of 40% to $30M (expense), General and administrative decrease of 35% to $9.6M (expense), Stock-based Compensation in R&D decrease of 65% to $2.3M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$17.91 to -$8.87. |
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