Tourmaline Bio Inc · Q3 2022 earnings

Briefing

Talaris Therapeutics reported financial results for the third quarter ended September 30, 2022 and provided a corporate update.

Talaris Therapeutics reported a net loss of $19.0 million for the third quarter of 2022. The company's cash, cash equivalents, and marketable securities totaled $193.9 million as of September 30, 2022, providing an expected runway through 2024. Enrollment continues in the Phase 3 FREEDOM-1 trial.

• Enrollment and dosing continue in the Phase 3 FREEDOM-1 trial of FCR001 in living donor kidney transplant (LDKT) patients.
• Presented data on FCR001 at the 2022 American Society of Nephrology (ASN) Annual Meeting.
• Expanded management team with the addition of Senior Vice President of Clinical Operations.
• Three clinical trials continue enrollment.

Headline financials

Revenue & EPS history

This press release contains forward-looking statements regarding Talaris' strategy, business plans and focus, the progress and timing of the preclinical and clinical development of Talaris’ programs, including FCR001 and the rate of enrollment for its clinical trials, expectations regarding the timing and data from the planned clinical update of FREEDOM-1, FREEDOM-2 or FREEDOM-3, including potential safety, tolerability and therapeutics effects, expectations around the anticipated contribution of the members of Talaris’ board of directors and executives to its operations and progress, and expectations regarding Talaris’ growth as a company and use of capital, expenses and other financial results during the third quarter ended on September 30, 2022 and in the future as well as Talaris’ expected cash runway through 2024.