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NEW YORK - Tourmaline Bio, Inc. (NASDAQ: TRML), a $424 million market cap biotech firm focused on immune and inflammatory diseases, is set to host a conference call and webcast Tuesday to discuss the Phase 2 TRANQUILITY trial results for its drug candidate pacibekitug. The company’s stock has shown strong momentum, gaining over 10% in the past year despite broader market volatility. This trial involves patients with chronic kidney disease and elevated high-sensitivity C-reactive protein levels.
The event will feature members of Tourmaline’s management and Dr. Deepak L. Bhatt, a cardiovascular expert from the Icahn School of Medicine at Mount Sinai. Dr. Bhatt, who is also the Chair of Tourmaline’s Cardiovascular Scientific Advisory Board, will contribute to the presentation beginning at 8:30 a.m. ET.
Pacibekitug is a long-acting anti-IL-6 monoclonal antibody, which has been previously studied in about 450 participants across six clinical trials. It is currently being developed for multiple conditions, including atherosclerotic cardiovascular disease and thyroid eye disease, with plans to explore its use in other diseases.
The company has invited interested parties to register for the webcast on their website, where a replay will also be available following the event. This announcement is based on a press release statement issued by Tourmaline Bio, Inc.
In other recent news, Tourmaline Bio has reported its fourth-quarter and full-year financial results for 2024, with a net loss of $22.2 million, or ($0.86) per share, slightly exceeding the estimated loss of $21.1 million. The net loss for the full year was $73.2 million, or ($2.89) per share. Cantor Fitzgerald has maintained an Overweight rating on Tourmaline Bio, highlighting the potential of the company’s pacibekitug program for treating abdominal aortic aneurysm (AAA), which they believe could generate substantial revenues. Chardan Capital Markets initiated coverage with a Buy rating and set a price target of $70.00, citing confidence in the growth prospects of pacibekitug, particularly in treating thyroid eye disease (TED) and atherosclerotic cardiovascular disease (ASCVD).
Truist Securities adjusted its price target for Tourmaline Bio to $63, down from $74, while maintaining a Buy rating, reflecting updates to their financial model for pacibekitug. They anticipate significant developments, including the release of Phase 2 clinical trial data in 2025. H.C. Wainwright raised its price target to $50.00, maintaining a Buy rating, following the company’s financial results and ongoing trials. Tourmaline Bio’s TRANQUILITY trial, which tests pacibekitug for ASCVD, has enrolled 143 patients, with results anticipated in the second quarter of 2025.
Truist Securities has reiterated a Buy rating with a $74.00 target, emphasizing the potential of the TRANQUILITY trial data as a catalyst. This trial is expected to validate the efficacy of pacibekitug in treating cardiovascular conditions, offering a multi-billion dollar opportunity. The firm’s analysts suggest that the current market price provides an attractive entry point for investors, anticipating strategic partnerships and trial results as key developments for Tourmaline Bio.
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