NEW YORK, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune and inflammatory diseases, today announced that Paul M. Ridker, MD, MPH, Eugene Braunwald Professor of Medicine at the Harvard Medical School and Director of the Center for Cardiovascular Disease Prevention at Brigham and Women’s Hospital, has joined Tourmaline’s Ca ...

NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune and inflammatory diseases, announced today that it will host a virtual Investor Day on December 10, 2024, beginning at 10 a.m. ET. The event will include presentations from Tourmaline's leadership team and Dr. Marc Bonaca, a cardiologist and vascular medicine specia ...

Table of Contents __________________________________________________________ Emerging growth company x UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition per ...

Exhibit 99.1 TOURMALINE Tourmaline Bio Reports Third Quarter 2024 Financial Results and Recent Business Highlights – On track to report topline data from Phase 2 TRANQUILITY trial in first half of 2025 – – Assembled Cardiovascular Scientific Advisory Board (CV SAB), comprised of leading academic and industry experts, in October 2024 – – Showcased poster presentations at the American Society of Preventive Cardiology Annual Congress in August 2024 and the 19 Annual Cardiometabolic Health Congress in October 2 ...

– On track to report topline data from Phase 2 TRANQUILITY trial in first half of 2025 – – Assembled Cardiovascular Scientific Advisory Board (CV SAB), comprised of leading academic and industry experts, in October 2024 – – Showcased poster presentations at the American Society of Preventive Cardiology Annual Congress in August 2024 and the 19th Annual Cardiometabolic Health Congress in October 2024 – – Cash, cash equivalents and investments of $314.4 million as of September 30, 2024, providing cash runway ...

This article is published by Terry Chrisomalis, who runs the Biotech Analysis Central pharmaceutical service on Seeking Alpha Marketplace. If you like what you read here and would like to subscribe to, I'm currently offering a two-week free trial period for subscribers to take advantage of. My service offers a deep-dive analysis of many pharmaceutical companies. The Biotech Analysis Central SA marketplace is $49 per month, but for those who sign up for the yearly plan will be able to take advantage of a 33. ...

NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune and inflammatory diseases, today announced that it expects to present two posters at the upcoming 19th Annual Cardiometabolic Health Congress (CMHC), taking place October 17-19, 2024, in Boston, MA. These posters highlight Tourmaline's ongoing commitment to further ...

– Tourmaline assembles leading experts to support the development of pacibekitug for cardiovascular diseases – – Cardiovascular Scientific Advisory Board expected to provide strategic guidance as Tourmaline advances pacibekitug towards potential Phase 3 clinical trial readiness in 2025 for the treatment of cardiovascular diseases – NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to d ...

NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune and inflammatory diseases, today announced that Sandeep Kulkarni, CEO, is expected to participate in the following investor conferences: H.C. Wainwright 26th Annual Global Investor Conference, New York Fireside Chat Monday, September 9, 2024 at 12:00 pm ET Cantor G ...

Financial Position and Cash Flow - Total cash, cash equivalents, and investments as of June 30, 2024, amounted to $334.4 million[86] - The January 2024 public offering resulted in net proceeds of $161.4 million after deducting underwriting discounts and offering costs[88] - As of June 30, 2024, the company had $334.4 million in cash, cash equivalents, and investments, which is expected to fund operating expenses and capital expenditures into 2027[125] - Net cash used in operating activities for the six months ended June 30, 2024 was $32.9 million, a $19.6 million increase compared to the same period in 2023[133] - Net cash used in investing activities for the six months ended June 30, 2024 was $199.0 million, primarily due to purchases of investments using proceeds from the January 2024 Offering[134] - Net cash provided by financing activities for the six months ended June 30, 2024 was $161.4 million, primarily from the January 2024 Offering[135] - The company has raised aggregate gross proceeds of approximately $359.7 million from outside capital, including Series A convertible preferred stock, Pre-Merger Financing Transaction, and the January 2024 Offering[125] Net Losses and Accumulated Deficit - Net losses for the six months ended June 30, 2024, were $30.8 million, compared to $23.6 million for the same period in 2023[87] - Accumulated deficit as of June 30, 2024, was $92.8 million[87] - Net loss increased by $1.4 million to $17.5 million for Q2 2024 compared to Q2 2023[115] - Net loss increased by $7.2 million to $30.8 million for the first six months of 2024 compared to the same period in 2023[119] - The company incurred net losses of $30.8 million and $23.6 million for the six months ended June 30, 2024 and 2023, respectively, with an accumulated deficit of $92.8 million as of June 30, 2024[125] Research and Development Expenses - Research and development expenses increased by $1.3 million to $15.7 million for Q2 2024 compared to Q2 2023[116] - Research and development expenses increased by $6.5 million to $27.1 million for the first six months of 2024 compared to the same period in 2023[120] - The company expects significant increases in research and development and general and administrative costs in the future[124] General and Administrative Expenses - General and administrative expenses increased by $4.3 million to $6.2 million for Q2 2024 compared to Q2 2023[118] - General and administrative expenses increased by $9.1 million to $12.4 million for the first six months of 2024 compared to the same period in 2023[122] - The company expects significant increases in research and development and general and administrative costs in the future[124] Clinical Trials and Product Development - The company initiated a Phase 2 trial of pacibekitug in patients with chronic kidney disease (CKD) and elevated high-sensitivity CRP (hs-CRP) in April 2024, with topline data expected in the first half of 2025[85] - The company expects to report topline data from the pivotal Phase 2b spiriTED trial in 2025 and commence a pivotal Phase 3 trial in the second half of 2024[83] - The company has identified thyroid eye disease (TED) as the beachhead indication for its FcRn+ strategy, with ongoing clinical trials[82] - Future funding requirements will depend on factors such as clinical trial costs, regulatory review costs, and commercialization expenses for pacibekitug and other product candidates[129] Revenue and Sales Milestones - No revenue generated since inception, with no expectation of near-term product sales[103] - The global sales of four anti-IL-6 or anti-IL-6R antibodies exceeded $3.5 billion in 2023[80] - The company has not generated any revenue from product sales and expects to require substantial additional capital for product development and commercialization[126] Obligations and Royalties - The company is obligated to pay Pfizer up to $128.0 million for development and regulatory milestones and up to $525.0 million for sales milestones[94] - The company is obligated to pay Lonza a royalty in the low-single digits on the Net Sales of products containing pacibekitug[99] - The company may be required to pay Pfizer up to $128.0 million for development and regulatory milestones and up to $525.0 million for sales milestones related to pacibekitug[131] Other Income and Future Funding - Other income, net increased by $8.4 million to $8.7 million for the first six months of 2024 compared to the same period in 2023[123] - The company will need additional capital to fund operations, potentially from equity or debt financings, collaborations, or licensing arrangements[124] Regulatory and Reporting Status - The company remains an emerging growth company and a smaller reporting company, with reduced disclosure obligations[143][144]