[25-NSE] Turnstone Biologics Corp. SEC Filing

Rhea-AI Filing Summary

Turnstone Biologics Corp. submitted a Form 25 notification concerning the removal of its Common Stock from listing and/or registration under Section 12(b) of the Securities Exchange Act. The filing identifies the issuer, the Nasdaq Stock Market LLC as the exchange, the issuer's address and telephone number, and Commission File Number 001-41747.

Nasdaq certifies it has reasonable grounds to file the Form 25 and includes statements of compliance with 17 CFR 240.12d2-2(b) and 12d2-2(c). The notice is signed by Jennifer Fainer, CDO Analyst on 2025-08-11. The filing does not state an effective delisting date nor clearly indicate which specific rule provision box was marked.

Positive

• Nasdaq certifies it has reasonable grounds to file the Form 25 and asserts compliance with applicable rules
• Form 25 is executed and signed by a Nasdaq representative (Jennifer Fainer, CDO Analyst) on 2025-08-11
• Filing includes clear issuer identification (Turnstone Biologics Corp.), exchange (Nasdaq), address, telephone number, and Commission File Number 001-41747

Negative

• Form 25 notifies removal of Turnstone Biologics Corp.'s common stock from Nasdaq listing/registration
• No effective delisting date is stated in the filing, leaving timing unclear
• The filing does not explicitly show which rule provision box was marked among the listed 17 CFR citations

Insights

Securities Analyst

TL;DR: Form 25 filed for Turnstone Biologics signals Nasdaq removal of its common stock; filing confirms compliance but omits an effective date.

The filing is a formal notification under Section 12(b) that Turnstone Biologics Corp.'s common stock will be removed from listing and/or registration. Nasdaq's certification that it has reasonable grounds and the cross-reference to 17 CFR 240.12d2-2(b) and 12d2-2(c) indicate the exchange and issuer represent compliance with procedural requirements. The form is signed by a Nasdaq representative on 2025-08-11. The absence of an effective delisting date and no explicit box selection for the rule provision reduce clarity for shareholders and market participants assessing timing and immediate impacts.

Corporate Governance Expert

TL;DR: The Form 25 is properly executed and certifies procedural compliance but lacks key timing details investors need.

From a governance perspective, the filing documents that Nasdaq and the issuer have followed the exchange's procedural requirements for removing a class of securities from listing/registration. The issuer, exchange, and signing official are identified, which supports regulatory traceability. However, the filing does not provide the effective date of removal or explicitly indicate which specific rule selection was checked, limiting transparency about when listing termination takes effect and under which precise statutory basis the delisting proceeds.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-41747

Issuer:	Turnstone Biologics Corp.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	9310 Athena Circle, Suite 300
	La Jolla	CALIFORNIA	92037
Telephone number:					+1 (609) 610-1201

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-08-11	By	Jennifer Fainer		CDO Analyst
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What action does the Form 25 for Turnstone Biologics (TSBX) report?

The Form 25 notifies the removal of Turnstone Biologics Corp.'s Common Stock from listing and/or registration under Section 12(b) of the Exchange Act.

Who filed or certified the Form 25 for TSBX?

The filing shows Nasdaq Stock Market LLC certified the Form 25; it is signed by Jennifer Fainer, CDO Analyst on 2025-08-11.

What class of securities is affected for Turnstone Biologics (TSBX)?

The filing identifies the affected class as Common Stock.

Does the Form 25 state when the delisting becomes effective?

No. The filing does not state an effective delisting date.

Which regulatory provisions are referenced in the filing?

The filing references 17 CFR 240.12d2-2 (subsections (b) and (c)) and lists 12d2-2(a) provisions, but does not clearly indicate which specific box was marked.