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We report the discovery of a transiting, temperate, Neptune-sized exoplanet orbiting the nearby (d = 27.5 pc), M3V star TOI-1231 (NLTT 24399, L 248-27, 2MASS J10265947-5228099). The planet was detected using photometric data from the Transiting Exoplanet Survey Satellite and followed up with observations from the Las Cumbres Observatory and the Antarctica Search for Transiting ExoPlanets program. Combining the photometric data sets, we find that the newly discovered planet has a radius of 3.65(+0.16,-0.15)Rꚛ and an orbital period of 24.246 days. Radial velocity measurements obtained with the Planet Finder Spectrograph on the Magellan Clay telescope confirm the existence of the planet and lead to a mass measurement of 15.5 ± 3.3 Mꚛ. With an equilibrium temperature of just 330 K, TOI-1231 b is one of the coolest small planets accessible for atmospheric studies thus far, and its host star's bright near-infrared brightness (J = 8.88, Ks = 8.07) makes it an exciting target for the Hubble Space Telescope and the James Webb Space Telescope. Future atmospheric observations would enable the first comparative planetology efforts in the 250–350 K temperature regime via comparisons with K2-18 b. Furthermore, TOI-1231's high systemic radial velocity (70.5 km/s) may allow for the detection of low-velocity hydrogen atoms escaping the planet by Doppler, shifting the H i Lyα stellar emission away from the geocoronal and interstellar medium absorption features.

The interiors of giant planets remain poorly understood. Even for the planets in the Solar System, difficulties in observation lead to large uncertainties in the properties of planetary cores. Exoplanets that have undergone rare evolutionary processes provide a route to understanding planetary interiors. Planets found in and near the typically barren hot-Neptune ‘desert’ (a region in mass–radius space that contains few planets) have proved to be particularly valuable in this regard. These planets include HD149026b, which is thought to have an unusually massive core, and recent discoveries such as LTT9779b and NGTS-4b, on which photoevaporation has removed a substantial part of their outer atmospheres. Here we report observations of the planet TOI-849b, which has a radius smaller than Neptune’s but an anomalously large mass of 39.1(+2.7−2.6) Earth masses and a density of 5.2(+0.7−0.8) grams per cubic centimetre, similar to Earth’s. Interior-structure models suggest that any gaseous envelope of pure hydrogen and helium consists of no more than 3.9(+0.8−0.9) per cent of the total planetary mass. The planet could have been a gas giant before undergoing extreme mass loss via thermal self-disruption or giant planet collisions, or it could have avoided substantial gas accretion, perhaps through gap opening or late formation. Although photoevaporation rates cannot account for the mass loss required to reduce a Jupiter-like gas giant, they can remove a small (a few Earth masses) hydrogen and helium envelope on timescales of several billion years, implying that any remaining atmosphere on TOI-849b is likely to be enriched by water or other volatiles from the planetary interior. We conclude that TOI-849b is the remnant core of a giant planet.