Tourmaline Bio Inc 2025年季度报告

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission File Number:001-40384 TOURMALINE BIO, INC. (Exact name of Registrant as specified in its Charter)___________________________________________________________ Not Applicable(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)__________________________________________________________ Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.YesxNoo Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of theExchange Act. (Check one): If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesoNox The registrant had outstanding25,688,479shares of common stock, $0.0001 par value per share, as of April25, 2025. Table ofContents TABLE OF CONTENTS PART I. FINANCIAL INFORMATIONItem 1. Financial StatementsItem 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and Procedures PART II. OTHER INFORMATION Item 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of SecuritiesItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. Exhibits SIGNATURES SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical factscontained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial position,business strategy, product candidates, planned preclinical studies and clinical trials and results thereof, research and development costs,planned regulatory submissions, regulatory approvals, timing and likelihood of success, as well as plans and objectives of managementfor future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and otherimportant factors that are in some cases beyond our control and may cause our actual results, performance or achievements to bematerially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “continue” “could,” “estimate,”“expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these termsor other similar expressions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limitedto, statements about: •the success, cost and timing of our development activities, non-clinical studies and clinical trials; •the timing and outcome of our current and future clinical trials, and the reporting of data from those trials; •the therapeutic potential of pacibekitug and future product candidates; •the ability to obtain funding for our operations, including funding necessary to develop and commercialize our current and futureproduct candidates, subject to regulatory approvals; •our ability to extend our operating capital; •the potential of our technologies and our ability to execute on our corporate strategy; •our ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; •our reliance on third parties to manufacture and conduct preclinical studies and clinical trials of our current and future productcandidates; •the success of competing therapies that ar