Turnstone Biologics (US:TSBX)2025-05-08 22:05Financial Performance - The net loss for Q1 2025 was $11.8 million, a reduction of 40% from a net loss of $19.6 million in Q1 2024[6][12]. - The net loss per share attributable to common stockholders for Q1 2025 was $0.51, compared to $0.85 in Q1 2024[12]. - Total operating expenses for Q1 2025 were $9.2 million, down from $20.7 million in the same period of 2024, reflecting a 56% decrease[12]. Cash and Investments - As of March 31, 2025, cash, cash equivalents, and short-term investments totaled $21.9 million, down from $28.9 million at the end of 2024[5][14]. - The total stockholders' deficit as of March 31, 2025, was $20.0 million, down from $31.5 million at the end of 2024[14]. Expenses - Research and Development (R&D) expenses for Q1 2025 were $4.4 million, a significant decrease of 72% compared to $15.8 million in Q1 2024[5][12]. - General and Administrative (G&A) expenses for Q1 2025 were $4.8 million, slightly down from $4.9 million in Q1 2024[6][12]. Strategic Decisions - The company has discontinued all TIDAL-01 clinical studies and is exploring strategic alternatives to maximize shareholder value[3]. - Turnstone received approval to transfer its shares from the Nasdaq Global Market to the Nasdaq Capital Market effective March 31, 2025[4]. Shareholder Information - The weighted-average shares of common stock outstanding increased to 23,138,209 in Q1 2025 from 23,011,795 in Q1 2024[12].