Turnstone Biologics Corp Stock Price, News & Analysis

Turnstone Biologics (Nasdaq: TSBX) has announced significant operational changes following a comprehensive business assessment. The company has decided to discontinue all clinical studies of TIDAL-01 and halt the program's development due to capital-intensive manufacturing requirements and current financial market conditions.

The company's management and Board of Directors have initiated a process to explore strategic alternatives to maximize shareholder value, which may include an acquisition, merger, business combination, sale of assets, or licensing. Turnstone has engaged a financial advisor to assist in this process.

As part of these changes, Turnstone is implementing workforce reductions and cost-containment measures, while retaining essential employees to support the strategic review process.

Turnstone Biologics Corp. (Nasdaq: TSBX), a clinical-stage biotechnology company, reported its Q3 2024 financial results and recent business highlights. The company announced a corporate restructuring to focus on its Phase 1 TIDAL-01 program, extending its cash runway into Q2 2026. Initial clinical data from the STARLING trial showed a 25% overall response rate and a 50% disease control rate in heavily pre-treated MSS mCRC patients, with one patient achieving a complete response and remaining progression-free for over a year. The restructuring included a 60% workforce reduction and a focus on key clinical milestones. Financial highlights include $45.3 million in cash, cash equivalents, and short-term investments as of September 30, 2024. R&D expenses were $14.4 million, G&A expenses were $3.9 million, and the net loss was $17.0 million for Q3 2024.

Turnstone Biologics (NASDAQ: TSBX) presented preclinical data on their Selected TIL technology at the 2024 SITC Annual Meeting. The research focuses on selectively expanding tumor-reactive T cells for solid tumor treatment. Two key studies were presented: one demonstrating successful TIL expansion from gastric tumors and enhancement of adoptive cell therapy, and another revealing a potential biomarker method to predict tumor-reactive T cell expansion success. The findings support the continued clinical development of TIDAL-01, currently in Phase 1 trials, and suggest that reactive TIL enrichment protocols could improve solid tumor treatment outcomes.

Turnstone Biologics Corp. (Nasdaq: TSBX) has announced a strategic restructuring to prioritize its clinical program and extend its financial runway. The key points include:

• Reducing workforce by approximately 60%
• Focusing resources on advancing the TIDAL-01 Phase 1 program
• Extending cash runway into Q2 2026
• Streamlining operations and leadership team

The company will prioritize the development of TIDAL-01, its Selected TIL therapy, which has shown promising initial data in treating solid tumors. Recent results include a complete response in a heavily pre-treated late-line microsatellite stable colorectal cancer patient. Turnstone expects to provide a clinical update in the first half of 2025.

Turnstone Biologics Corp. (Nasdaq: TSBX) reported Q2 2024 financial results and business highlights. Key points include:

1. Positive initial data from Phase 1 trial of TIDAL-01 in metastatic colorectal cancer, with a 25% overall response rate and 50% disease control rate.

2. Cash position of $62.4 million, expected to fund operations into Q3 2025.

3. R&D expenses increased to $17.7 million, while G&A expenses decreased to $4.3 million.

4. Net loss for Q2 2024 was $21.3 million, slightly improved from $21.5 million in Q2 2023.

5. The company is prioritizing development in solid tumor indications, including metastatic colorectal cancer.

Turnstone Biologics Corp. (Nasdaq: TSBX) reported positive initial data from its Phase 1 STARLING trial of TIDAL-01 in metastatic microsatellite stable colorectal cancer (MSS mCRC). Key findings include:

- 25% overall response rate (ORR) and 50% disease control rate (DCR) among four evaluable patients
- One patient achieved a deep and durable ongoing complete response (CR)
- 50% of patients showed sustained clinical benefit, with notable progression-free survival
- TIDAL-01 demonstrated high titer, polyclonal, and multi-epitope tumor neoantigen-reactive T cells
- Generally well-tolerated safety profile
- 80% manufacturing success rate for TIDAL-01 in CRC

These results suggest TIDAL-01's potential to transform treatment for metastatic CRC and other solid tumors.

Turnstone Biologics Corp. (Nasdaq: TSBX) has announced its Q1 2024 financial results and recent business highlights. The company is advancing its lead Selected Tumor-Infiltrating Lymphocyte (TIL) therapy, TIDAL-01, across multiple Phase 1 trials targeting various solid tumors, with a clinical update expected mid-year. Turnstone has secured a $20 million non-dilutive credit facility and new cleanroom capacity for manufacturing TIDAL-01. Q1 financials show cash reserves of $77.8 million, R&D expenses of $15.8 million, G&A expenses of $4.9 million, and a net loss of $19.6 million due to decreased revenue from collaboration terminations.

Turnstone Biologics Corp. is set to present at the 2024 Bank of America Securities Health Care Conference. The company, listed on Nasdaq as TSBX, focuses on developing innovative treatments for solid tumors through Selected TIL therapy. The presentation by the President and CEO, Sammy Farah, will take place on May 15, 2024, in Las Vegas. Investors can access the live webcast on the company's website and arrange one-on-one meetings with senior management.