Certain Common Stock of Tourmaline Bio, Inc. are subject to a Lock-Up Agreement Ending on 25-APR-2024.
April 24, 2024
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Certain Common Stock of Tourmaline Bio, Inc. are subject to a Lock-Up Agreement Ending on 25-APR-2024. These Common Stock will be under lockup for 91 days starting from 25-JAN-2024 to 25-APR-2024.
Details:
The directors and executive officers, and certain of its significant stockholders have entered into lock up agreements with the underwriters prior to the commencement of this offering pursuant to which each lock-up party, with limited exceptions, for a period of 90 days after the date of this prospectus supplement, may not (and may not cause any of their direct or indirect affiliates to), without the prior written consent of Jefferies LLC and Piper Sandler & Co. sell, offer to sell, contract to sell or lend or grant any option to sell (including any short sale), pledge, hypothecate or grant any security interest in, or transfer any lock-up securities; enter into any swap, hedge or similar arrangement or agreement that transfers, in whole or in part, the economic risk of ownership of the lock-up securities, whether any such transaction is to be settled by delivery of lock-up securities, in cash or otherwise, establish or increase an open ?put equivalent position? within the meaning of Rule 16a-l(h) under the Exchange Act, or liquidate or decrease any ?call equivalent position? (as defined in Rule 16a-1(b) under the Exchange Act), make any demand for or exercise any right with respect to, the registration of any lock-up securities, or publicly disclose the intention to do any of the foregoing.
Tourmaline Bio, Inc. is a late-stage clinical biotechnology company. The Company is focused on developing transformative medicines that improve the lives of patients with life-altering immune and inflammatory diseases. The Companyâs initial product candidate is TOUR006, a fully human monoclonal antibody that selectively binds to interleukin-6 (IL-6), a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders. TOUR006 is a long-acting anti-IL-6 antibody which has properties, including a high binding affinity to IL-6, long half-life, and low observed immunogenicity. It is also developing TOUR006 in thyroid eye disease (TED) and atherosclerotic cardiovascular disease (ASCVD) as its first two indications, with additional diseases under consideration. It is focused on two strategic paths for TOUR006, the first of which it refers to as FcRn+. Its second strategic path is cardiovascular inflammation.