Tourmaline Bio, Inc.

Overview

• IndustryBiological Products, (No Diagnostic Substances)¹
• HeadquartersNew York, New York¹
• Incorporated inDE²
• Business address27 West 24Th Street, Suite 702, New York, Ny 10010²
• Filer category, Emerging growth company²

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We are a late-stage clinical biotechnology company focused on developing transformative medicines that dramatically improve the lives of patients with life-altering immune and inflammatory diseases. In doing so, we seek to identify and develop medicines that have the potential to establish new standards-of-care in areas of high unmet medical need.³ From its latest annual report

Corporate structure

Tourmaline Bio, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Tourmaline Bio, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Properties, in its own words

We lease approximately 3,274 square feet of office space at 27 West 24th Street, Suite 702, New York, New York, 10010, which serves as our corporate headquarters. The lease expires on February 28, 2026. We believe that our current facilities are adequate to meet our ongoing needs, and that, if we require additional space, we will be able to obtain additional facilities on commercially reasonable terms.

Item 2 of the 10-K filed Mar 13, 2025.³

Leadership

Who has led Tourmaline Bio, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerSandeep Chidambar Kulkarni Oct 23, 2023 to now¹⁰
• Chief executive officerScott Requadt Feb 2, 2022 to Feb 3, 2023¹¹
• Chief financial officerRyan F. Robinson Oct 23, 2023 to now¹²
• Chief financial officerMary Kay Fenton May 6, 2021 to Jul 6, 2023¹³

Former names

• Talaris Therapeutics, Inc.Oct 7, 2020 to Oct 18, 2023²

Timeline

1. Oct 28, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer³⁴
2. Sep 12, 20258-K Executive or director change³⁵
3. Sep 9, 20258-K Entered a material agreement; Regulation FD disclosure³⁶
4. Aug 13, 20258-K Results of operations³⁷
5. Jun 9, 20258-K Regulation FD disclosure³⁸
6. Jun 6, 20258-K Shareholder vote³⁹
7. May 20, 20258-K Regulation FD disclosure; Other events⁴⁰
8. May 2, 20258-K Results of operations⁴¹
9. Mar 13, 20258-K Results of operations⁴²
10. Dec 10, 20248-K Regulation FD disclosure; Other events⁴³
11. Dec 10, 20248-K Regulation FD disclosure⁴⁴
12. Nov 7, 20248-K Results of operations⁴⁵
13. Oct 23, 2023New chief executive Sandeep Chidambar Kulkarni becomes CEO¹⁰
14. Feb 2, 2022New chief executive Scott Requadt becomes CEO¹¹

Calendar

When it reported results

1. Aug 13, 2025Reported quarterly or annual results³⁷
2. May 2, 2025Reported quarterly or annual results⁴¹
3. Mar 13, 2025Reported quarterly or annual results⁴²
4. Nov 7, 2024Reported quarterly or annual results⁴⁵
5. Aug 8, 2024Reported quarterly or annual results⁴⁶
6. May 13, 2024Reported quarterly or annual results⁴⁷
7. Mar 19, 2024Reported quarterly or annual results⁴⁸
8. Jan 24, 2024Reported quarterly or annual results⁴⁹

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

293 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 51 major events, 123 insider forms, 35 large holders, 68 other. The latest 20:

1. Nov 14, 2025EFFECT EDGAR
2. Nov 14, 2025EFFECT EDGAR
3. Nov 14, 2025SCHEDULE 13G/A EDGAR
4. Nov 7, 202515-12G EDGAR
5. Oct 28, 20254 EDGAR
6. Oct 28, 20254 EDGAR
7. Oct 28, 20254 EDGAR
8. Oct 28, 20254 EDGAR
9. Oct 28, 20254 EDGAR
10. Oct 28, 20254 EDGAR
11. Oct 28, 20254 EDGAR
12. Oct 28, 20254 EDGAR
13. Oct 28, 20254 EDGAR
14. Oct 28, 20254 EDGAR
15. Oct 28, 20254 EDGAR
16. Oct 28, 20253 OWNERSHIP DOCUMENT EDGAR
17. Oct 28, 2025S-8 POS EDGAR
18. Oct 28, 2025S-8 POS EDGAR
19. Oct 28, 2025S-8 POS EDGAR
20. Oct 28, 2025S-8 POS EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

50 open-market trades by officers, directors and large owners since October 2021: 22 buys and 28 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13G/A, 5 filings Jul 6, 2023 to Nov 14, 2025⁵⁰
• BlackRockSCHEDULE 13G/A, 3 filings Oct 22, 2024 to Oct 17, 2025⁵¹
• Avoro Capital Advisors LLCSCHEDULE 13G/A, 2 filings Nov 14, 2024 to Aug 14, 2025⁵²
• QVT Financial LPSCHEDULE 13G/A, 2 filings May 15, 2025 to Aug 14, 2025⁵³
• Blue Owl CapitalSCHEDULE 13G/A, 3 filings Feb 14, 2024 to Feb 14, 2025⁵⁴
• Deep Track Capital, LPSC 13G/A, 2 filings Oct 27, 2023 to Nov 14, 2024⁵⁵
• VIKING GLOBAL INVESTORS LPSC 13G/A, 2 filings Feb 14, 2022 to Nov 14, 2024⁵⁶
• PfizerSC 13G/A, 2 filings Oct 27, 2023 to Mar 15, 2024⁵⁷
• CITADEL ADVISORS LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 2024⁵⁸
• Hydra LLCSC 13G/A, 2 filings Nov 6, 2023 to Feb 14, 2024⁵⁹
• Blackstone Holdings II L.P.SC 13G/A, 2 filings Feb 11, 2022 to Feb 9, 2024⁶⁰
• TCG Crossover GP I, LLCSC 13G, 1 filing Feb 9, 2024⁶¹
• BML Investment Partners, L.P.SC 13G/A, 3 filings Apr 27, 2023 to Feb 7, 2024⁶²
• Longitude Capital Partners III, LLCSC 13D/A, 1 filing Oct 30, 2023⁶³
• Qiming U.S. Healthcare GP II, LLCSC 13D/A, 2 filings Feb 28, 2022 to Oct 30, 2023⁶⁴

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

SEC filer profile

How Tourmaline Bio, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARTourmaline Bio, Inc.¹
• CIK0001827506
• Employer ID (EIN)83-2377352³
• Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company³
• Incorporated inDelaware³
• Fiscal year endsDecember 31¹
• Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)¹
• SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance¹
• Business address27 West 24Th Street, Suite 702, New York, NY 10010¹
• Phone646-481-9832¹
• Shares outstanding25,692,268 as of Aug 1, 2025⁹
• Public float$294.0M as of Jun 28, 2024³
• AuditorDeloitte & Touche LLP, Morristown, New Jersey PCAOB ID 34; no auditor attestation of internal control over financial reporting³
• On EDGAR sinceOct 7, 2020¹
• Filings346 in all: 4 (108), 8-K (53), 3 (28), SC 13G (16), 10-Q (14), SC 13G/A (14), CORRESP (8), 425 (7)¹
  All 47 form types

  4/A (6), EFFECT (6), S-8 (6), S-8 POS (6), UPLOAD (6), SCHEDULE 13G/A (5), 10-K (4), 144 (4), DEF 14A (4), DEFA14A (4), SEC STAFF LETTER (4), ARS (3), S-4/A (3), SC 14D9/A (3), SC TO-T/A (3), SC14D9C (3), 424B5 (2), POS AM (2), S-3 (2), SC 13D (2), SC 13D/A (2), 15-12G (1), 25-NSE (1), 424B3 (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), D (1), DRS (1), DRS/A (1), DRSLTR (1), S-1 (1), S-1/A (1), S-4 (1), SC 14D9 (1), SC TO-C (1), SC TO-T (1), SCHEDULE 13G (1)

• Latest filingsAnnual report (10-K) Mar 13, 2025
  Quarterly report (10-Q) Aug 13, 2025
  Proxy statement (DEF 14A) Apr 21, 2025
  Latest 8-K (8-K) Oct 28, 2025

Securities registered for trading

From the cover page of the 10-K filed Mar 13, 2025 (Section 12(b) of the Exchange Act).³

Risk factors and legal proceedings

The risks Tourmaline Bio, Inc. names in Item 1A of its 10-K filed Mar 13, 2025: 62 risks under these headings, as written.³

• Risks Related to Our Financial Condition and Capital Needs
• We have a limited operating history and no history of commercializing products which may make it difficult for an investor to evaluate the success of our business to date and to assess our future viability.
• We have incurred net losses every year since our inception and have no source of product revenue. We expect to continue to incur significant operating losses and may never become profitable.
• Our business is highly dependent on the success of pacibekitug as well as any other potential future product candidates. If we are unable to successfully complete clinical development of, obtain regulatory approval for, or commercialize, pacibekitug or any other potential future product candidates, or if we experience delays in doing so, our business will be materially harmed.
• We will need significant additional capital to proceed with the development and commercialization of pacibekitug and any potential future product candidates and our other operations. We may not be able to access sufficient capital on acceptable terms, if at all, and, as a result, we may be required to delay, scale back or discontinue development of such product candidates or other operations.
• We will incur additional costs and increased demands upon management as a result of complying with the laws and regulations applicable to public companies.
• Once we are no longer an emerging growth company, a smaller reporting company, or otherwise no longer qualify for applicable exemptions, we will be subject to additional laws and regulations affecting public companies that will increase our costs and the demands on management and could harm our operating results.
• Risks Related to Our Dependence on Third Parties
• We may not be able to obtain and maintain the relationships with third parties that are necessary to develop, commercialize and manufacture pacibekitug and any potential future product candidates.
• We rely completely on CDMOs for the manufacture and testing of pacibekitug and any potential future product candidates under cGMP, and we are subject to many manufacturing risks, any of which could substantially increase our costs and limit supply of any potential product candidates and any future products. Additionally, any difficulties in the transfer of drug substance or drug product to or from clinical sites or manufacturing facilities could materially adversely affect our business, financial condition, and results of operations.
• As of December 31, 2024, our manufacturing and testing of bulk drug substance for pacibekitug currently takes place in the U.S. through a global CDMO with facilities around the world. Our manufacturing and testing of drug product for pacibekitug occurs in facilities in Austria and the U.S. Our drug product is packaged in Germany and the U.S. A significant disruption in the operation of these manufacturing facilities, a trade war or political unrest could materially adversely affect our business, financial condition and results of operations.
• We may seek to establish BD Arrangements, and, if we are not able to establish them on commercially reasonable terms, or at all, we may have to alter our development and commercialization plans.

Legal proceedings

From time to time, we may become involved in legal proceedings arising from the ordinary course of business. For additional information regarding legal proceedings, see Note 13 “Commitments and Contingencies—Litigation” to our audited financial statements included elsewhere in this Report. We believe there are currently no pending legal proceedings to which we or our property are subject that could have a material adverse effect on our financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.³