shares of talaris therapeutics jumped after the company said it would combine with tourmaline bio in an allstock merger deal the stock was up 232 at 271 in early trading the stock is down 65 over the past 12 months but has more than doubled since the start of the year the two companies said thursday morning that they would combine into a single entity operating under the tourmaline bio banner that will focus on advancing tourmalines treatment for thyroid eye disease and atherosclerotic cardiovascular disease talaris holders are expected to receive about 343 a share including a cash dividend of up to about 648 million the deal is expected to close in the fourth quarter pending the approval from stockholders of both companies talaris said in february that it would explore strategic alternatives and slash a third of its staff after development on its lead drug candidate in kidney transplants was scrapped