Turnstone Biologics (TSBX) - 2024 Q4 - Annual Results

Financial Performance - As of December 31, 2024, cash, cash equivalents, and short-term investments totaled $28.9 million, a decrease from$94.8 million in the previous year[4][13] - The net loss for Q4 2024 was $12.9 million, an improvement from a net loss of$16.5 million in Q4 2023, representing a 21.8% decrease[5][11] - Total operating expenses for the year ended December 31, 2024, were $72.5 million, down from$78.3 million in 2023, reflecting a 7.4% reduction[11] - The company reported no collaboration revenue for the year ended December 31, 2024, compared to 19.3 million in 2023[11] Expenses - Research and Development (R&D) expenses for Q4 2024 were 8.2 million, down 39.5% from 13.5 million in Q4 2023[4][5] - General and Administrative (G&A) expenses for Q4 2024 were 3.2 million, a reduction of 27.3% compared to $4.4 million in Q4 2023[5] Assets and Liabilities - Total assets decreased to$40.1 million as of December 31, 2024, from $112.8 million in the previous year[13] - Total liabilities decreased to$8.7 million as of December 31, 2024, down from $14.1 million in 2023[13] Strategic Decisions - The company has decided to discontinue all TIDAL-01 clinical studies and is exploring strategic alternatives to maximize shareholder value[3] Shareholder Information - The weighted-average shares of common stock outstanding increased to approximately 23.1 million in Q4 2024 from 22.9 million in Q4 2023[11]