Turnstone Biologics Files for $86M IPO Amid Financial Difficulties

Struggling biotech company Turnstone Biologics has filed for an $86 million IPO on Nasdaq in hopes of raising funds to stay afloat, according to an SEC filing. The company had only $64 million in operating capital by March 2023 and suffered net losses of $30 million in 2022. Turnstone focuses on developing oncolytic viruses and tumor-infiltrating lymphocytes (TILs) to target cancer. Its partners..