Tourmaline Bio: Strong Financial Position and Promising Cardiovascular Treatment Pipeline Justify Buy RatingThis morning, Tourmaline (Nasdaq: TRML) reported Q2 2025 earnings, finishing the period with $256.4M in cash, cash equivalents and short- term investments, which is expected to fund operaons into the second half of 2027. Recent updates from the Company’s pipeline include: In May, Tourmaline reported topline results from the Phase II TRANQUILITY study, which confirmed pacibekitug’s potenal as a once-quarterly SC injecon for the treatment of CV disease (our note here). The 50mg Q3M dose achieved similar absolute hsCRP reducons and proporon of paents with hsCRP <2mg/L as the go forward doses from Phase II studies with Novo’s zilvekimab (Q4W SC) and CSL’s clazakizumab (Q4W IV), with no meaningful safety signals observed. KOLs connue to highlight that less frequent dosing regimens drive greater adherence, especially in ‘silent’ diseases, which may help improve long-term paent outcomes.