Turnstone Biologics Announces Strategic Restructuring to Prioritize Portfolio and Extend Financial Runway
Turnstone Biologics Corp. (TSBX)
Company Research
Source: GlobeNewswire
Realigning resources to focus on clinical advancement of Selected TIL therapyReducing employee headcount by approximately 60%Streamlining operations with cash runway expected to extend into 2Q 2026 SAN DIEGO, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Turnstone Biologics Corp. (“Turnstone” or the “Company”) (Nasdaq: TSBX), a clinical-stage biotechnology company developing a differentiated approach to treat and cure patients with solid tumors by pioneering selected tumor-infiltrating lymphocyte (Selected TIL) therapy, today announced a strategic prioritization of its pipeline, as well as a workforce reduction of approximately 60% and changes to its leadership team, to focus resources on the continued advancement of its Phase 1 program, TIDAL-01. As a result of the restructuring initiatives that align with the Company’s near-term goals, the anticipated cost savings are expected to extend its cash runway into the second quarter of 2026 and maximize shareholder value. “Following a comprehe
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News
- Turnstone Biologics Corp. (NASDAQ: TSBX) was downgraded by analysts at Bank of America Co. from a "neutral" rating to an "underperform" rating.MarketBeat
- Turnstone Biologics Corp. Reports Third Quarter 2024 Financial Results and Provides Recent Business HighlightsGlobeNewswire
- Turnstone Biologics Presents Preclinical Data Highlighting Potential for Selected Tumor-Infiltrating Lymphocyte (TIL) Therapy in Solid Tumors at the 2024 Society for Immunotherapy of Cancer (SITC) Annual Meeting [Yahoo! Finance]Yahoo! Finance
- Turnstone Biologics Presents Preclinical Data Highlighting Potential for Selected Tumor-Infiltrating Lymphocyte (TIL) Therapy in Solid Tumors at the 2024 Society for Immunotherapy of Cancer (SITC) Annual MeetingGlobeNewswire
- Turnstone Biologics Corp. (NASDAQ: TSBX) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating.MarketBeat
TSBX
Earnings
- 3/21/24 - Beat
TSBX
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 10/11/24 - Form 8-K
- TSBX's page on the SEC website