Turnstone Biologics Q1 2024 net loss $19.6M; cash $77.8M funds into Q3 2025

Turnstone Biologics Corp.

2024-Q1 EPS reported -$0.85

Net loss of $19.6M vs $0.1M net income in Q1 2023, no collaboration revenue recognized.
Cash and short-term investments $77.8M as of March 31, 2024; expected to fund operations into Q3 2025.
R&D expenses $15.8M, flat YoY; G&A expenses $4.9M, up from $4.0M due to public company costs.
Secured $20M non-dilutive revolving credit facility from Banc of California in April 2024.
Appointed William Waddill to Board; Patrick Machado stepped down. TIDAL-01 Phase 1 update expected mid-year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Turnstone Biologics Corp. reported first quarter ended March 31, 2024 results: net income Net loss was $19.6 million.

Period: first quarter ended March 31, 2024
Net income: Net loss was $19.6 million
Result: reported results

Exact text from the filing

On May 13, 2024, Turnstone Biologics Corp. (the “Company”) issued a press release announcing financial results for the fiscal quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0000950170-24-058812

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