Turnstone fires most staff in bid to extend runway

14 October 2024

Turnstone Biologics (Nasdaq: TSBX) has announced a major restructuring of its operations, cutting its workforce by approximately 60%.

The firm will seek to streamline resources and focus on the development of its lead program, TIDAL-01, a selected tumor-infiltrating lymphocyte (TIL) therapy.

The move, which could preserve resources into the second quarter of 2026, follows a comprehensive review of the corporate outlook and pipeline. Year-to-date, Turnstone’s stock is down approximately 81%.

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