Turnstone Biologics (TSBX) stock is taking a hit today after the release of the company’s latest earnings report. The company reported diluted earnings per share of -92 cents, missing Wall Street’s expectations of -81 cents per share. Despite this, it is an improvement from the previous year’s -$7.56 per share.
Turnstone Biologics ended Q2 with $62.4 million in cash and cash equivalents, which the company believes will sustain its operations through the third quarter of 2025.
In the earnings report, Sammy Farah, the president and CEO of Turnstone Biologics, expressed optimism about the company’s progress, especially in the Phase 1 trial of TIDAL-01 for patients with metastatic colorectal cancer.
TSBX Stock Movement Today
Following the earnings report, TSBX stock saw heavy trading with over 178,000 shares changing hands, surpassing its daily average volume of 124,000 shares. The stock is down 37.9% today and 15.8% year-to-date.
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Analysis:
Turnstone Biologics’ disappointing earnings report has led to a significant drop in its stock price. Investors are reacting to the company’s failure to meet earnings expectations, despite showing some improvement from the previous year. The company’s cash position is reassuring, but the market is responding negatively to the missed targets. It is important for investors to stay informed about such developments and consider the implications for their investment decisions.
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