Xoma to acquire Turnstone Biologics for $0.34 in cash per share

Written by Emily J. Thompson, Senior Investment Analyst

TSBX%

XOMA-8.41%

Updated: Jun 27 2025

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Merger Announcement: XOMA Royalty Corporation will acquire Turnstone Biologics for $0.34 per share in cash plus a contingent value right, with the merger expected to close by August 2025 after a tender offer starting July 11, 2025.
Board Approval and Support: The Turnstone Board unanimously approved the merger, determining it is in the best interests of stockholders, with approximately 25.2% of Turnstone's stockholders agreeing to support the transaction.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Xoma to acquire Turnstone Biologics for $0.34 in cash per share

About the author

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