Turnstone Biologics has announced a significant restructuring, which includes reducing its workforce by approximately 60% as part of its effort to streamline operations and extend its financial runway.
The biotech, which focuses on developing therapies for solid tumors, is prioritizing its clinical program, TIDAL-01, while making organizational cuts to align with near-term goals. Currently in phase 1 trials, TIDAL-01 is being tested in patients with colorectal cancer, head and neck cancer, and uveal melanoma, with early data showing promising results, including a complete response in a heavily pre-treated colorectal cancer patient.
The company expects that the workforce reduction, along with other cost-saving measures, will extend its cash runway into the second quarter of 2026.
The layoffs are part of a broader restructuring plan aimed at refocusing the company’s efforts on clinical development and manufacturing while reducing costs. As Turnstone sharpens its focus on its lead program, the company is also undergoing leadership changes to better support its operations.
Key transitions include Ines Verdon assuming leadership of all clinical activities, Michael Fitch overseeing manufacturing and technical operations, and Saryah Azmat stepping into the role of Chief Operating Officer.