Turnstone Biologics Announces Plans to Explore Strategic Alternatives

Core Viewpoint - Turnstone Biologics Corp. has decided to discontinue all clinical studies evaluating TIDAL-01 and halt further development of the program, initiating a strategic review to maximize shareholder value [1][2][3]. Group 1: Business Operations - The decision to discontinue TIDAL-01 is due to the capital-intensive nature of manufacturing for the Selected TIL therapy and the current financial market conditions [2]. - Turnstone has engaged a financial advisor to explore strategic alternatives, which may include acquisition, merger, business combination, sale of assets, licensing, or other transactions [3]. Group 2: Workforce and Cost Management - The company is reducing its workforce and implementing cost-containment and cash conservation measures while retaining essential employees for supporting value realization [4]. Group 3: Acknowledgments - The company expressed gratitude to patients, investigators, collaborators, and team members for their contributions to the clinical development efforts [5]. Group 4: Company Overview - Turnstone Biologics is a clinical-stage biotechnology company focused on treating solid tumors through a differentiated approach using Selected TIL therapy, which aims to improve upon first-generation TIL therapies [6].