Touramile (TRML) buyer 1790 April $45/$65 call spreads for $7.20 as March $40 calls adjust, name that hit highs recently and these March calls bought 3/11. TRML also recent odd buyer of 800 April $50 calls at $4.10 to $4.20 and sells 400 of the $60 calls at $1.05. Jefferies started shares Buy with a $41 target in December with IL-6 in TED a key asset with best-in-class potential. TRML has a market cap of $1.1B and trades 7.4X Cash (runway through 2026) while Truist sees $1.4B peak sales potential for TOUR006 in TED. Topline data from the ongoing Phase 2b spiriTED trial are expected in the first half of 2025 and topline data from the planned Phase 3 trial in TED are expected in 2026. TRML is a name that could make a lot of sense as a M&A target as deals in Biotech and with eye disease have been active. TRML also has a small short float of 2.8% for a clinical stage Biotech.