secwatch.observer — SEC 8-K summary
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Issuer:     Turnstone Biologics Corp. (—)
CIK:        0001764974
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0000950170-24-058812
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1764974/000095017024058812/0000950170-24-058812-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1764974/000095017024058812/tsbx-20240513.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-058812

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