Turnstone Biologics Corp. ( (TSBX) ) has released its Q1 earnings. Here is a breakdown of the information Turnstone Biologics Corp. presented to its investors.
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Turnstone Biologics Corp. is a biotechnology company focused on developing innovative therapies for the treatment of solid tumors, utilizing a unique approach involving tumor infiltrating lymphocytes (TILs). The company recently released its quarterly earnings report, highlighting significant strategic shifts and financial results. During the first quarter of 2025, Turnstone Biologics reported a net loss of $11.8 million, a decrease from the $19.6 million loss in the same period the previous year. The company’s cash and cash equivalents stood at $21.8 million as of March 31, 2025, down from $28.9 million at the end of 2024. The company has discontinued its clinical studies on TIDAL-01 and is exploring strategic alternatives, including potential mergers or asset sales, to enhance shareholder value. Despite these challenges, Turnstone Biologics remains committed to evaluating strategic options that could maximize shareholder value, although there is no guarantee of a favorable outcome.