Turnstone Biologics Corp., a clinical-stage biotechnology company developing new treatments for solid tumors, has successfully priced its initial public offering of 6,666,667 shares of common stock at a remarkable $12.00 per share. This offering is expected to gross Turnstone a hefty $80.0 million before deducting underwriting discounts and commissions, and what’s more, the underwriters have also been granted an additional 30-day option to purchase up to one million more shares at the same price.
TSBX is slated to make its mark on Wall Street on July 21, 2023 by trading on the Nasdaq Global Select Market. All necessary conditions to ensure a successful offering being met, the offering is set to close on July 25, 2023. Make sure you don’t miss out on this historic event!
BofA Securities, Leerink Partners and Piper Sandler & Co. are joining forces to serve as the joint book-running managers for a promising upcoming offering. Together, these financial powerhouses will be sure to provide the best opportunities for their clients.
About Turnstone
Turnstone Biologics is at the forefront of transforming cancer treatment by developing new medicines that target solid tumors. Their targeted immune cell therapy, called Selected TILs, is designed to improve upon the efficacy of traditional treatments.
Currently in its Phase 1 clinical trials, its lead program TIDAL-01 is being tested in breast cancer, melanoma, and colorectal cancer patients, with promising results.
Turnstone is also actively advancing its preclinical pipeline, which includes TIDAL-02 and TIDAL-01 combination programs. By harnessing the power of the immune system, Turnstone is revolutionizing cancer care and creating a brighter future for cancer patients.