Turnstone Biologics reports Q2 EPS (92c), consensus (93c)

As of June 30, 2024, cash, cash equivalents and short-term investments were $62.4 million. The Company expects that the combined cash, cash equivalents and short-term investments will be sufficient to fund its operations into the third quarter of 2025..”We have continued to bolster our position by making advances across our pipeline and corporate operations in the second quarter of 2024. This includes the reporting of encouraging initial data from our Phase 1 trial of TIDAL-01 in patients with metastatic colorectal cancer,” said Sammy Farah, M.B.A., Ph.D., Turnstone’s President and Chief Executive Officer. “The clinical signals from these initial data, including a remarkable complete response in one of the first four patients, demonstrated deep and durable anti-tumor activity along with corresponding biological data, which support our fundamental hypothesis of enriching for tumor-reactive T cells in our Selected TIL therapies. As the competitive profile of TIDAL-01 strengthens with this initial clinical data, we are prioritizing development in solid tumor indications, including metastatic colorectal cancer, where we believe we can differentiate our TIL technology and provide the most benefit to patients.”