Turnstone Biologics (TSBX) said Tuesday it has decided to discontinue all clinical trials assessing Tidal-01 in solid tumors and has launched a process to explore strategic alternatives to maximize shareholder value.
The company said it has hired an advisor to help in the review of potential alternatives that may include an acquisition, merger, sale of assets, licensing, or other deals.
Turnstone also said it's reducing its workforce and implementing other cost-cutting and cash-preservation measures.
The company's shares were rising past 6% in recent trading.
Price: 0.44, Change: +0.03, Percent Change: +6.61
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