Tourmaline shares waver as investors mull mid-stage pacibekitug data

US biotech Tourmaline Bio (Nasdaq: TRML) has reported top-line data from a Phase II trial of its lead asset, pacibekitug, in people with chronic kidney disease (CKD) and elevated inflammation levels associated with cardiovascular risk.

Despite upbeat messaging from the company, its stock slid as much as 20% in early Tuesday trading before recovering some ground later in the day.

The New York-based firm is developing pacibekitug, a long-acting monoclonal antibody that targets the interleukin-6 (IL-6) pathway. Tourmaline said all tested doses met the trial’s primary goal of lowering hs-CRP through 90 days compared to placebo, with statistically significant reductions observed across all treatment arms.