Tourmaline Bio, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
In-process research and development expense
Stock-based compensation
Fair value adjustment of contingent stock liability
Gain on disposal of property and equipment
Asset impairment
Non-cash lease expense
Depreciation on property and equipment
Accretion of discount on investments
Realized gain on investments
Other non-cash items
Changes in operating assets and liabilities:
Prepaid and other current assets
Other assets
Prepaid expenses and other current assets
Other non-current assets
Accounts payable
Accrued expenses and other current liabilities
Operating lease liabilities
Other liabilities

Net cash used in operating activities
Investing activities:
Purchases of property and equipment
Purchases of marketable securities
Maturities of marketable securities
Acquisition of in-process research and development
Purchases of investments
Maturities of investments
Net cash (used in) provided by investing activities
Financing activities:
Proceeds from isuance of common stock
2021 Employee Stock Purchase Plan
Total proceeds from isuance of common stock

Common stock issuance costs
Common Stock
Total common stock issuance costs
Payment of partial settlement of contingent stock liability
Proceeds from public offering of common stock, net of issuance costs
Repurchase of common stock originally issued upon early exercise of stock options
Proceeds from issuance of Series A convertible preferred stock, net of issuance costs
Proceeds from exercises of stock options
Proceeds from pre-merger financing, net of issuance costs
Cash acquired in connection with reverse merger
Proceeds from issuance of related party note payable
Repayment of related party note payable
Net cash provided by financing activities

Net (decrease) increase in cash, cash equivalents and restricted cash
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Cash, cash equivalents and restricted cash—Beginning of period
Cash, cash equivalents and restricted cash—End of period
Non-cash investing and financing activities:
Right-of use asset obtained in exchange for new operating lease liability
Issuance of Series A convertible preferred stock in exchange for acquired in-process research and development
Purchases of property and equipment included in accounts payable and accrued expenses
Unpaid reverse merger costs included in accounts payable
Unpaid deferred offering costs included in accounts payable and accrued expenses
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents
Restricted cash

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