Turnstone Biologics Corp.

Turnstone Biologics Corp. (TSBX) priced its initial public offering on Jul 24, 2023 at $12.00 per share, within its $12.00–$14.00 range, raising $80M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $266.3M. BofA Securities was lead-left underwriter, joined by Leerink Partners and Piper Sandler. Cooley advised the company and Latham & Watkins advised the underwriters.

Turnstone Biologics Corp. is a clinical-stage biotechnology company developing medicines for solid tumors. It is pioneering an approach to tumor infiltrating lymphocytes aimed at increasing the number of tumor-reactive T cells that can recognize and attack the tumor.

Status

IPO

Ticker

TSBX

Exchange

Nasdaq Global Market

Priced

Jul 24, 2023

IPO price

$12.00

Price range

$12.00–$14.00

Raised

$80M

Market cap at IPO price

$266.3M

First filed

Jun 12, 2023

Underwriters

BofA Securities, Leerink Partners and Piper Sandler

Company counsel

Cooley

Underwriters' counsel

Latham & Watkins

Sector

Biotech & pharma

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.