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NVS

Tourmaline Bio, Inc., a Novartis Companydistress 1/10 · well-funded / low risk
$152.850%today-9% from 52w high
novartis.com75,267 employeesFounded 1996Basel, SwitzerlandDrug Manufacturers - General
Neurology 2
Lead: Relapsing Multiple Sclerosis · est. market ~$25B (approx, global)
Revenue
$13524M
Liquidity
$9408M
Runway
Shares 1y
0%

Price & events

+8.6% over 6M
$141$152$164Jan 26Apr 26Jul 267.2Mcatalyst: earnings (2026-07-21) — click to openrating: Morgan Stanley: Overweight (2026-03-26)
CatalystRating changeDilutionFinancingdashed = today
-0.2%
1D
+0.1%
1W
-0.3%
1M
+3.6%
3M
+7.0%
6M
+33.5%
1Y
+51.7%
2Y
+101.3%
5Y
+103.1%
All

Overview

Market Cap
$291.66B
Enterprise Value
$322.23B
Volume
161.39K
52 Week Range
$114 – $169
Total Shares
1.91B
Float Shares
1.85B
Short %
0.28%
% Held by Insiders
0.00%
% Held by Institutions
7.67%
RVOL
0.08x
Beta
0.49

Pipeline stages · 5 programs

Remibrutinib, Teriflunomide
Preclin
Ph1
Ph2
Ph3
Filed
PDUFA
Approved
next 2026-07-23
TOUR006 - 20 MG, TOUR006 - 50 MG
Preclin
Ph1
Ph2
Ph3
Filed
PDUFA
Approved
next 2026-09
CYB704, Ocrevus-EU, Ocrevus-US
Preclin
Ph1
Ph2
Ph3
Filed
PDUFA
Approved
next 2026-11
GT005
Preclin
Ph1
Ph2
Ph3
Filed
PDUFA
Approved
next 2028-06-02
Onasemnogene Abeparvovec-xioi
Preclin
Ph1
Ph2
Ph3
Filed
PDUFA
Approved
next 2035-12-31

Pipeline · 6 trials · 6 upcoming

ReadoutPhaseDrugIndicationEnrollStatus
2026-07-23
Estimated 50%
readout ~2026-10-06
final ~2027-07-31
Phase 3Remibrutinib, TeriflunomideRelapsing Multiple Sclerosisactive not recruiting
2026-07-23
Estimated 50%
readout ~2026-10-06
final ~2027-07-31
Phase 3Remibrutinib, TeriflunomideRelapsing Multiple Sclerosisactive not recruiting
2026-09
Estimated 50%
readout ~2026-10-16
Phase 2TOUR006 - 20 MG, TOUR006 - 50 MGThyroid Eye Diseaseactive not recruiting
2026-11
Estimated 50%
readout ~2027-01-15
Phase 3CYB704, Ocrevus-EU, Ocrevus-USRelapsing Multiple Sclerosisactive not recruiting
2028-06-02
Estimated 50%
readout ~2028-07-17
Phase 2GT005Age Related Macular Degeneration (AMD)enrolling by invitation
Show all 6 trials · 1 more ▾
ReadoutPhaseDrugIndicationEnrollStatus
2035-12-31
Estimated 50%
readout ~2036-03-15
Phase 3Onasemnogene Abeparvovec-xioiSpinal Muscular Atrophy Type I, Spinal Muscular Atrophy Type II, Spinal Muscular Atrophy Type III, SMAactive not recruiting

Catalyst news & presentations · 1

Approved drugs (0)

  • none — clinical-stage

Capital structure — dilution & financing

Shares out: 1,908,151,679 · 0 offerings/1y · 0 PIPEs
  • none
🔒 Positioning — Pro
Short interest / days-to-cover, insider buys & sells.
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🔒 Top holders — Pro
Institutional ownership + quarter-over-quarter accumulation/trimming.
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Wall St ratings

hold · target $155 (+1% upside) · 10 analysts
  • 2026-03-26Morgan StanleyOverweight
  • 2026-01-06BarclaysUnderweight → Equal-Weight
  • 2025-12-08JP MorganNeutral → Overweight
  • 2025-09-12Goldman SachsNeutral → Sell
  • 2025-02-13UBSBuy → Neutral
  • 2024-11-19Erste GroupBuy → Hold

Competitors — Relapsing Multiple Sclerosis

  • NVSEFNOVARTIS AG$292.0B · D3
  • SNYSanofi$52.5B · D1
  • TGTXTG THERAPEUTICS, INC.$8.1B · D0
  • ZBIOZenas BioPharma, Inc.$2.0B · D3
  • IMUXIMMUNIC, INC.$202M · D2

Not financial advice. Data: ClinicalTrials.gov, SEC EDGAR, FINRA, Nasdaq, Yahoo.