Tourmaline Bio, Inc.
TRMLHealthcare · Biological Products, (No Diagnostic Substances) · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Operating income | −$89.7M | −$45.4M | −$19.7M | −$47.5M | −$22.7M |
| Net income | −$73.2M | −$42.1M | −$19.7M | −$47.8M | −$22.7M |
| Total assets | $309.0M | $210.3M | $9.1M | $251.4M | $152.8M |
| Total liabilities | $8.9M | $5.3M | $1.7M | $8.6M | $4.8M |
| Equity | $300.1M | $205.0M | −$19.7M | −$226,000 | −$38.1M |
| EPS (diluted) | $-2.89 | $-8.87 | $-22.46 | $-1.64 | — |
| Shares out. | 25.6M | 42.0M | 41.5M | 39.8M | 7.1M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2024- Operating margin
- —
- Net margin
- —
- Return on equity
- −24.4%
- Return on assets
- −23.7%
- Return on capital (ROCE)
- −29.9%
- Liabilities / assets
- 2.9%
- Debt / equity
- 0.03×
- Book value / share
- $11.70
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2024- Altman Z″ (distress)
- 37.35safe
- Accruals / assets
- 1.3%clean
- Piotroski F-Score
- 1/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 warning● 3 good- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Clinical trials
ClinicalTrials.gov · ongoing · next readout firstInterventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Ra Capital Management, L.P.Passive (13G)Nov 14, 2025
- Blackrock, Inc.Passive (13G)Oct 17, 2025
- Qvt Financial LpPassive (13G)Aug 14, 2025
- Avoro Capital Advisors LlcPassive (13G)Aug 14, 2025
- Blue Owl Capital Holdings LpPassive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| Oct 15, 2025 | 808,958 | 1.8 | -17.7% |
| Sep 30, 2025 | 982,611 | 1.0 | -39.9% |
| Sep 15, 2025 | 1.6M | 1.0 | -38.5% |
| Aug 29, 2025 | 2.7M | 21.1 | +6.0% |
| Aug 15, 2025 | 2.5M | 15.1 | -4.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Terminated a material agreement · Completed an acquisition or disposition · Delisting / listing-standard notice · Modified shareholder rights · Change in control · Director / officer change · Amended charter or bylawsOct 28, 2025
- Director / officer changeSep 12, 2025
- Entered a material agreement · Regulation FD disclosureSep 9, 2025
- Results of operationsAug 13, 2025
- Regulation FD disclosureJun 9, 2025
- Shareholder voteJun 6, 2025
- Regulation FD disclosure · Other material eventMay 20, 2025
- Results of operationsMay 2, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.