Cash ConstraintsBased on estimated 1Q25 cash balance of ~$11M, the price target is being lowered to $0.40 from $3.75.
Price Target ReductionWith the removal of TIDAL-01 from estimates, the price target has been reduced to $1 from $3 and the MP rating is reiterated.
Program DiscontinuationTurnstone Biologics announced the discontinuation of their lead (and sole) clinical program, TIDAL-01.