Tourmaline Bio Inc.
Tourmaline Bio, Inc. operates as a clinical biotechnology company that develops medicines for patients with life-altering immune and inflammatory diseases. It develops TOUR006, a human anti-IL-6 monoclonal antibody that selectively binds to interleukin-6, a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders. The company's development pipeline c… Read more
Tourmaline Bio Inc. (TRML) - Net Assets
Latest net assets as of June 2025: $259.19 Million USD
Based on the latest financial reports, Tourmaline Bio Inc. (TRML) has net assets worth $259.19 Million USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($269.30 Million) and total liabilities ($10.10 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $259.19 Million |
| % of Total Assets | 96.25% |
| Annual Growth Rate | 49.92% |
| 5-Year Change | 102.73% |
| 10-Year Change | N/A |
| Growth Volatility | 135.91 |
Tourmaline Bio Inc. - Net Assets Trend (2019–2024)
This chart illustrates how Tourmaline Bio Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tourmaline Bio Inc. (2019–2024)
The table below shows the annual net assets of Tourmaline Bio Inc. from 2019 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $300.05 Million | +46.34% |
| 2023-12-31 | $205.04 Million | +1139.13% |
| 2022-12-31 | $-19.73 Million | -108.13% |
| 2021-12-31 | $242.81 Million | +64.05% |
| 2020-12-31 | $148.00 Million | +273.86% |
| 2019-12-31 | $39.59 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tourmaline Bio Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 11495400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $3.00K | 0.00% |
| Other Comprehensive Income | $296.00K | 0.10% |
| Other Components | $435.01 Million | 144.98% |
| Total Equity | $300.05 Million | 100.00% |
Tourmaline Bio Inc. Competitors by Market Cap
The table below lists competitors of Tourmaline Bio Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Xencor Inc
NASDAQ:XNCR
|
$630.08 Million |
|
Antar Chile
SN:ANTARCHILE
|
$630.30 Million |
|
NewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 2031
NASDAQ:NEWTO
|
$630.37 Million |
|
Zhongnongfa Seed Industry Group Co Ltd
SHG:600313
|
$630.39 Million |
|
Appotronics Corp Ltd
SHG:688007
|
$629.65 Million |
|
Jiangsu Rainbow Heavy Industries Co Ltd
SHE:002483
|
$629.45 Million |
|
Lai Yih Footwear Co., Ltd.
TW:6890
|
$629.39 Million |
|
PC Connection Inc
NASDAQ:CNXN
|
$629.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tourmaline Bio Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 205,042,000 to 300,052,000, a change of 95,010,000 (46.3%).
- Net loss of 73,210,000 reduced equity.
- New share issuances of 161,352,000 increased equity.
- Other comprehensive income increased equity by 229,000.
- Other factors increased equity by 6,639,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-73.21 Million | -24.4% |
| Share Issuances | $161.35 Million | +53.77% |
| Other Comprehensive Income | $229.00K | +0.08% |
| Other Changes | $6.64 Million | +2.21% |
| Total Change | $- | 46.34% |
Book Value vs Market Value Analysis
This analysis compares Tourmaline Bio Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.05x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 5.01x to 4.05x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | $9.57 | $47.98 | x |
| 2020-12-31 | $221.40 | $47.98 | x |
| 2021-12-31 | $22.33 | $47.98 | x |
| 2022-12-31 | $-0.97 | $47.98 | x |
| 2023-12-31 | $43.19 | $47.98 | x |
| 2024-12-31 | $11.84 | $47.98 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tourmaline Bio Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -24.40%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.03x
- Recent ROE (-24.40%) is below the historical average (-17.69%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -45.86% | 0.00% | 0.00x | 1.06x | $-22.11 Million |
| 2020 | -15.34% | 0.00% | 0.00x | 1.03x | $-37.51 Million |
| 2021 | 0.00% | 0.00% | 0.00x | 1.04x | $-24.28 Million |
| 2022 | 0.00% | 0.00% | 0.00x | 0.00x | $-17.73 Million |
| 2023 | -20.54% | 0.00% | 0.00x | 1.03x | $-62.63 Million |
| 2024 | -24.40% | 0.00% | 0.00x | 1.03x | $-103.22 Million |
Industry Comparison
This section compares Tourmaline Bio Inc.'s net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $59,082,939
- Average return on equity (ROE) among peers: -341.19%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tourmaline Bio Inc. (TRML) | $259.19 Million | -45.86% | 0.04x | $629.86 Million |
| Aadi Bioscience Inc (AADI) | $-124.24K | 0.00% | 0.00x | $17.03 Million |
| America Great Health (AAGH) | $-992.37K | 0.00% | 0.00x | $2.12 Million |
| Ascentage Pharma Group International (AAPG) | $70.63 Million | -1310.51% | 34.40x | $2.25 Billion |
| Aardvark Therapeutics, Inc. Common Stock (AARD) | $-27.92 Million | 0.00% | 0.00x | $59.18 Million |
| ABIVAX Société Anonyme (AAVXF) | $196.01 Million | -75.37% | 0.67x | $377.86 Million |
| Abcellera Biologics Inc (ABCL) | $10.25 Million | -21.57% | 1.29x | $738.02 Million |
| Abeona Therapeutics Inc (ABEO) | $489.00K | -1919.02% | 38.85x | $202.79 Million |
| Acumen Pharmaceuticals Inc (ABOS) | $188.78 Million | -22.70% | 0.04x | $108.65 Million |
| Abpro Holdings, Inc. (ABP) | $-22.46 Million | 0.00% | 0.00x | $2.00 Million |
| Absci Corp (ABSI) | $176.18 Million | -62.76% | 0.23x | $345.85 Million |