secwatch.observer — SEC 8-K summary
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Issuer:     Turnstone Biologics Corp. (—)
CIK:        0001764974
Form:       8-K
Filed at:   2024-10-11T23:59:59+00:00
Accession:  0001193125-24-236377
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1764974/000119312524236377/0001193125-24-236377-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1764974/000119312524236377/d834511d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-236377

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer