RHHVF - Tourmaline Bio: Sinking On Rival's Stodgy Data - I'm Slightly Bearish
2024-03-22 09:30:41 ET
Summary
- Tourmaline Bio, Inc.'s share price dropped by 37% after Chugai's Enspryng, an IL-6 blocker, failed to meet expectations in a study on myasthenia gravis.
- Tourmaline is developing TOUR006, its own IL-6 blocker, for thyroid eye disease and atherosclerotic cardiovascular disease.
- The company's success is uncertain due to competition in the IL-6 inhibitor market and limited efficacy data for TOUR006.
Investment Overview
In January this year, Tourmaline Bio, Inc. ( TRML ) launched its IPO, raising $172.5m via the issuance of 5.m shares priced at $32.5 per share. According to a press release , the company is on a mission to "develop transformative medicines that dramatically improve the lives of patients with life-altering immune and inflammatory diseases," and its lead candidate:
Tourmaline Bio: Sinking On Rival's Stodgy Data - I'm Slightly Bearish
TOUR006 is a long-acting, fully-human, anti-IL-6 monoclonal antibody with best-in-class potential and differentiated properties including a naturally long half-life, low immunogenicity, and high binding affinity to IL-6.
To date, TOUR006 has been studied in 448 participants, including patients with autoimmune disorders, across six clinical trials. Tourmaline is developing TOUR006 in Thyroid Eye Disease ("TED") and atherosclerotic cardiovascular disease ("ASCVD") as its first two indications, with additional diseases under consideration.