SAN DIEGO - Turnstone Biologics Corp. (NASDAQ:TSBX), a biotechnology firm focused on innovative cancer treatments, has announced its latest preclinical findings on tumor-infiltrating lymphocyte (TIL) selection methods. These results were presented at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting, which began Monday (NASDAQ:MNDY) in Houston, Texas.
The company's research, conducted in collaboration with the H. Lee Moffitt Cancer Center and the University of Montreal Hospital Research Centre, supports the development of its clinical candidate TIDAL-01. This therapy employs a novel process to isolate and selectively expand the most potent neoantigen-reactive TILs from a patient's tumor.
One study presented on Saturday demonstrated successful TIL expansion from gastric tumors, suggesting that enrichment protocols could improve TIL-based therapies for solid tumors. Another study, shared on Friday, indicated that the overlap between circulating and intratumoral T cell repertoires might predict the successful ex-vivo expansion of neoantigen-reactive TILs.
David Stojdl, Ph.D., Senior Vice President of Research at Turnstone, expressed confidence in the potential of a TIL-based product with a higher proportion of tumor-reactive T cells to treat a broader range of solid tumors. TIDAL-01 is currently under evaluation in Phase 1 trials for colorectal cancer, head and neck cancer, and uveal melanoma.
Turnstone's approach aims to address the limitations of first-generation bulk TIL therapies, which have only shown objective responses in limited tumor types. The company's next-generation Selected TIL technology is designed to harness a greater reactive T cell population for more effective tumor targeting.
These forward-looking statements reflect the company's ambitions to extend the clinical application of TILs and improve upon current standards of care if approved. Turnstone continues to work towards meeting critical unmet needs in cancer treatment.
The information presented is based on a press release statement from Turnstone Biologics. The safety and efficacy of the product candidates are still under investigation, and they have not yet received approval from the U.S. Food and Drug Administration.
In other recent news, Turnstone Biologics reported significant developments, including a strategic shift towards its lead program, TIDAL-01, and a major workforce reduction. The biotech company has prioritized the development of TIDAL-01, a therapy aimed at treating challenging cancers. This move is expected to extend the company's cash runway until the second quarter of 2026. Turnstone Biologics also announced leadership changes, including the promotion of Saryah Azmat to Chief Operating Officer. BofA Securities downgraded Turnstone's stock from Buy to Neutral, citing a wait-and-see approach until more mature data is available in 2025. Piper Sandler, however, maintained an Overweight rating on the stock despite reducing its price target. This recent shift in priorities and the company's first-quarter earnings for 2024, boasting a cash reserve of $78 million, are among the key developments for Turnstone Biologics.
InvestingPro Insights
As Turnstone Biologics Corp. (NASDAQ:TSBX) advances its innovative cancer treatments, investors should be aware of the company's financial position and market performance. According to InvestingPro data, Turnstone's market capitalization stands at $10.88 million, reflecting its status as a small-cap biotechnology firm.
The company's stock has experienced significant volatility, with the price falling 85.39% over the past year and 79.98% in the last three months. This aligns with an InvestingPro Tip indicating that the stock generally trades with high price volatility. The current stock price of $0.47 is trading near its 52-week low, at just 8.19% of its 52-week high.
Financially, Turnstone faces challenges typical of early-stage biotech companies. An InvestingPro Tip notes that the company is quickly burning through cash, which is crucial for investors to consider given the capital-intensive nature of drug development. Additionally, analysts do not anticipate the company will be profitable this year, reflecting the long development cycles common in the biotechnology sector.
Despite these challenges, Turnstone maintains a strong liquidity position. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. This financial cushion could be vital as Turnstone continues to fund its research and clinical trials for TIDAL-01 and other pipeline candidates.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Turnstone Biologics, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.