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Tourmaline Bio ( (TRML) ) has provided an announcement.
On October 15, 2025, Tourmaline Bio terminated its ATM Sales Agreement with Leerink Partners LLC, which allowed the company to offer and sell up to $100 million of its common stock. Subsequently, on October 28, 2025, Tourmaline Bio requested the suspension and delisting of its shares from the Nasdaq Global Select Market and initiated steps to deregister its shares with the SEC. The company underwent significant leadership changes following a merger, with several key executives and board members resigning, and new directors and officers appointed. These actions reflect a strategic shift in the company’s operations and governance structure.
The most recent analyst rating on (TRML) stock is a Hold with a $48.00 price target. To see the full list of analyst forecasts on Tourmaline Bio stock, see the TRML Stock Forecast page.
Spark’s Take on TRML Stock
According to Spark, TipRanks’ AI Analyst, TRML is a Neutral.
Tourmaline Bio’s overall stock score reflects substantial financial and profitability challenges. While the technical indicators suggest some positive momentum, the negative P/E ratio and lack of dividend yield indicate valuation concerns. The strong equity position is a positive, but is overshadowed by the company’s significant cash flow issues and lack of revenue growth.
To see Spark’s full report on TRML stock, click here.
More about Tourmaline Bio
Average Trading Volume: 925,808
Technical Sentiment Signal: Buy
Current Market Cap: $1.23B
For a thorough assessment of TRML stock, go to TipRanks’ Stock Analysis page.

