---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-236377"
form_type: "8-K"
ticker: null
cik: "0001764974"
company_name: "Turnstone Biologics Corp."
filed_at: "2024-10-11T23:59:59+00:00"
generated_at: "2026-05-30T15:30:46.510279+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Turnstone cuts 60% of workforce, extends cash runway into Q2 2026; CFO and CMO leave

## Summary
- Workforce reduction of ~60%; one-time severance charge of ~$2.3M expected in Q4 2024.
- Cash runway extended by three quarters, now expected into Q2 2026.
- Portfolio prioritized to focus on Phase 1 TIDAL-01 (Selected TIL) program; clinical update expected H1 2025.
- CFO Venkat Ramanan resigns effective Oct 25; VP Finance Wendy Worcester named Principal Financial Officer.
- CMO Michael Burgess retires as interim CMO but remains on board; COO Saryah Azmat promoted.

## SEC filing metadata
- accession: 0001193125-24-236377
- form_type: 8-K
- cik: 0001764974
- company_name: Turnstone Biologics Corp.
- filed_at: 2024-10-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1764974/000119312524236377/0001193125-24-236377-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1764974/000119312524236377/d834511d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-236377
- JSON: https://secwatch.observer/filing/0001193125-24-236377.json
- Plain text: https://secwatch.observer/filing/0001193125-24-236377.txt

## Key facts
- Restructurings & Charges
  Turnstone Biologics Corp. announced a restructuring with charges of approximately $2.3 million (approximately 60%).
  - Type: restructuring
  - Charge: approximately $2.3 million
  - Headcount: approximately 60%
  source text: Turnstone anticipates a one-time severance-related charge associated with the workforce reduction to be approximately $2.3 million, which represents cash expenditures related to employee severance and notice period payments, benefits and related costs that Turnstone expects to incur in connection with the workforce reduction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1764974/000119312524236377/0001193125-24-236377-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.