Turnstone Biologics Corp. ( (TSBX) ) has released its Q4 earnings. Here is a breakdown of the information Turnstone Biologics Corp. presented to its investors.
Turnstone Biologics Corp., a biotechnology company, focuses on developing innovative therapies for treating solid tumors through its pioneering Selected Tumor-Infiltrating Lymphocyte (TIL) therapy. In its latest financial report, Turnstone Biologics announced its fourth quarter and full-year 2024 financial results, highlighting significant corporate updates and financial performance metrics. The company reported a decrease in research and development expenses to $8.2 million and general and administrative expenses to $3.2 million for the fourth quarter of 2024, compared to the same period in 2023. The net loss for the quarter was $12.9 million, showing an improvement from the $16.5 million net loss in the previous year. Despite these financial adjustments, Turnstone Biologics decided to discontinue its TIDAL-01 clinical studies and is currently exploring strategic alternatives to maximize shareholder value. Looking forward, Turnstone Biologics remains committed to evaluating strategic options to enhance shareholder value, while continuing to monitor its financial health and operational strategies.