Core Viewpoint - Turn Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing targeted therapies for inflammatory and immunological conditions, particularly in dermatologic and infectious diseases [1] Corporate Updates - The company announced corporate updates ahead of its participation in the 2026 J.P. Morgan Healthcare Conference scheduled for January 12–15, 2026, in San Francisco [1] Financial Updates - Financial updates were included in the announcement, although specific figures were not detailed in the provided content [1] Pipeline Updates - Turn Therapeutics will discuss its pipeline developments during investor and partner meetings at the upcoming conference [1]

Core Insights - Turn Therapeutics Inc. has appointed Mr. Martin Dewhurst to its Board of Directors, bringing over 30 years of experience in life sciences and M&A, aligning with the company's strategic goals for growth and expansion [1][2] Company Overview - Turn Therapeutics is a clinical-stage biotechnology company focused on developing targeted therapies for dermatology, advanced wound care, and infectious diseases [1][5] - The company has received three FDA clearances for its proprietary formulations and is advancing late-stage clinical programs in eczema and onychomycosis [5] Strategic Focus - The appointment of Mr. Dewhurst is seen as pivotal for Turn Therapeutics as it pursues a disciplined, M&A-focused strategy to expand its pipeline and create long-term value [2] - Mr. Dewhurst's expertise in capital allocation, portfolio expansion, and partnership development will be instrumental in evaluating opportunities that complement Turn's platform [2][3] Leadership Background - Mr. Dewhurst has a significant background in the life sciences industry, having co-led McKinsey & Company's global life sciences practice and co-founded the McKinsey Health Institute [2][3] - He also serves as a senior advisor to PJT Partners and holds board positions in various organizations, including a Switzerland-based medtech company [3] Commitment to Public Health - Turn Therapeutics is pursuing global health initiatives, including thermostable vaccine delivery aimed at underserved areas, reflecting its commitment to public health innovation [5]

Financial Performance - The company reported a net loss of approximately $3.47 million for the nine months ended September 30, 2025, compared to a net loss of $1.45 million for the same period in 2024, reflecting an increase in losses of $2.03 million [125]. - The company has incurred operating losses since inception and anticipates continued losses due to increased research and development costs for later-stage clinical trials [125]. - Net cash used in operating activities during the nine months ended September 30, 2025, was $1.38 million, primarily due to a net loss of $3.4 million [149]. - Other income increased by $169.05 thousand from $22.88 thousand for the nine months ended September 30, 2024, to $191.93 thousand for the same period in 2025, primarily due to vendor-related adjustments [143]. Expenses - General and administrative expenses increased by $2.2 million from $1.2 million for the nine months ended September 30, 2024, to $3.4 million for the same period in 2025, primarily due to legal and advisory service accruals related to the direct listing [141]. - The company expects to incur significant additional costs in research and development, general and administrative expenses, and marketing [148]. Cash Position - The company has cash and cash equivalents of approximately $3.11 million as of September 30, 2025, which is expected to fund operations into the first quarter of 2026 [126]. - Cash and cash equivalents available as of September 30, 2025, were approximately $3.1 million, which may not be sufficient to fund operations for the next 12 months [147]. - Net cash provided by financing activities during the nine months ended September 30, 2025, was $3.74 million, consisting entirely of proceeds from the issuance of common stock [152]. Clinical Trials and Research - The Phase 2-equivalent clinical trial for GX-03, targeting moderate to severe eczema, began in July 2025 with approximately 30% of enrollees having completed the trial as of now [128]. - The company is in discussions with multinational contract research organizations to initiate Phase 3-equivalent pivotal trials for GX-03 for the treatment of onychomycosis in 2026 [129]. - Research and development expenses for eczema and vaccine programs remained stable with no material change for the three and nine months ended September 30, 2025, compared to the same periods in 2024 [142]. - The company has completed preclinical studies for basal cell carcinoma, showing a 29% reduction in tumor size compared to placebo and a 20% reduction compared to standard care [124]. - The Hexagen formula demonstrated an 85% reduction in viral load in preclinical studies for herpes zoster ophthalmicus compared to placebo, indicating significant therapeutic potential [124]. Liabilities and Future Funding - As of September 30, 2025, total liabilities amounted to $3.79 million, including $2.3 million in current accounts payable and accrued expenses [145]. - The company anticipates requiring approximately $18.0 to $20.0 million for planned Phase 3 trials for eczema and onychomycosis, and $1.5 million to $2.5 million for its vaccine program [146]. - Deferred revenue as of September 30, 2025, was $1.44 million, primarily related to a license agreement for the FleX Product pending FDA approval [145]. - The company entered into a GEM Purchase Agreement allowing for the potential sale of up to $85.0 million in common stock under certain conditions [147]. Tax and Revenue - The company has federal cumulative NOL carryforwards of approximately $8.59 million and state NOL carryforwards of approximately $7.35 million as of December 31, 2024 [161]. - The company did not recognize any royalty revenue from licensing agreements to date [159].

Financial Performance - Research and development expenses for Q3 2025 were $158,699, compared to $153,282 in Q3 2024, reflecting a slight increase [5]. - General and administrative expenses for Q3 2025 were $1.75 million, an increase of $1.2 million from $0.52 million in Q3 2024, primarily due to legal and advisory services related to the direct listing [5]. - The company reported a net loss of $1.90 million for Q3 2025, compared to a net loss of $666,442 in Q3 2024 [6]. - Total operating expenses for Q3 2025 were $1.91 million, compared to $672,992 in Q3 2024, indicating a significant increase [6]. - As of September 30, 2025, Turn Therapeutics had $3.11 million in cash and cash equivalents, up from $872,599 at the end of 2024 [7]. Corporate Developments - Turn Therapeutics began trading on NASDAQ under the ticker TTRX on October 8, 2025, allowing the company to secure funding from public markets [1]. - The company entered into a global supply, development, and license agreement with Medline, the largest provider of medical-surgical products, to leverage its PermaFusion® platform technology [3]. - The company appointed two new members to its Board of Directors, enhancing its leadership team with extensive experience in regulatory and clinical development [5]. Clinical Advancements - The clinical trial for the first topical IL-36/IL-31 inhibitor for eczema has commenced, building on thousands of prior uses of the formula [5]. - Turn Therapeutics is advancing late-stage clinical programs in eczema and onychomycosis, reflecting its commitment to developing best-in-class products [2].

Core Insights - Turn Therapeutics Inc. successfully began trading on NASDAQ under the ticker TTRX on October 8, 2025, marking a significant corporate milestone that enables the company to secure funding from public markets for growth [1][3] - The company has entered into a global supply, development, and license agreement with Medline, the largest provider of medical-surgical products, to leverage its proprietary PermaFusion® platform technology [1][3] - The company reported a net loss of $1.90 million for the third quarter of 2025, compared to a net loss of $666,442 for the same period in 2024, indicating an increase in operational expenses primarily due to legal and advisory services related to its NASDAQ listing [6][8] Corporate Updates - The Board of Directors has been strengthened with the appointments of Arthur Golden and Dr. Kent Kester, who bring extensive experience in corporate development and infectious disease, respectively [1][3] - Andrew Scott has been appointed as Vice President of Corporate Communications, overseeing investor relations and capital markets strategy [3] - The company has commenced a clinical trial for its first topical IL-36/IL-31 inhibitor for eczema, building on previous in-human uses of the formula [3][4] Financial Performance - For the three months ended September 30, 2025, total operating expenses were $1.91 million, a significant increase from $672,992 in the same period in 2024 [6][8] - Research and development expenses were $158,699 for the third quarter of 2025, slightly up from $153,282 in the same quarter of 2024 [8] - As of September 30, 2025, the company had cash and cash equivalents of $3.11 million, compared to $872,599 at the end of 2024 [7][8] Company Overview - Turn Therapeutics is focused on developing and commercializing products for dermatology, wound care, and infectious disease, with three FDA clearances for its proprietary formulations [9] - The company is advancing late-stage clinical programs in eczema and onychomycosis and is pursuing global health initiatives in thermostable vaccine delivery [9]

Company Overview - Turn Therapeutics Inc. is a clinical-stage biotechnology company focused on developing therapies for dermatology, advanced wound care, and infectious diseases [3] - The company has received three FDA clearances for its proprietary formulations and is advancing late-stage clinical programs in eczema and onychomycosis [3] - Turn Therapeutics is also engaged in global health initiatives, particularly in thermostable vaccine delivery aimed at underserved areas worldwide [3] Leadership and Public Engagement - CEO Brad Burnam emphasized the importance of restoring public trust in health authorities during a conversation with Dr. Robert Redfield, former CDC Director [2] - The discussion highlighted the obligation of companies and public health authorities to communicate fact-based science to the public [2] - Dr. Redfield is recognized for his advocacy of science-based decision-making and has made significant contributions to HIV research [2]

Core Insights - Turn Therapeutics Inc. has been recognized as one of the "Five Novel Mechanisms Reshaping Atopic Dermatitis Treatment" by Patient Care Online Magazine, highlighting its innovative approach in the dermatology sector [1][2] Company Overview - Turn Therapeutics is a biotechnology company focused on developing and commercializing products for dermatology, wound care, and infectious diseases [3] - The company has received three FDA clearances for its proprietary formulations in wound and dermatology care and is advancing late-stage clinical programs in eczema and onychomycosis [3] - Turn is also engaged in global health initiatives, particularly in thermostable vaccine delivery aimed at underserved areas, reflecting its commitment to public health innovation [3] Product Development - The company's GX-03 technology targets IL-36, which is involved in the inflammatory processes of atopic dermatitis, eczema, and psoriasis, representing a novel topical agent that offers an alternative to systemic and injectable treatments [2] - Studies have shown that GX-03 can inhibit several key targets, including IL-36 alpha, IL-31, IL-4, and IL-36 gamma, all associated with eczema and psoriasis [2] - Turn Therapeutics is expected to announce topline data from its lead program in severe eczema in early 2026 [2]

Core Insights - Turn Therapeutics Inc. has appointed Andrew Scott as Vice President of Corporate Communications to enhance investor relations and capital markets strategy as the company enters a new growth phase following its public listing [2][3] Company Overview - Turn Therapeutics is a biotechnology company focused on developing and commercializing products for dermatology, wound care, and infectious diseases [3] - The company has received three FDA clearances for its proprietary wound and dermatology formulations and is advancing late-stage clinical programs in eczema and onychomycosis [3] - Turn Therapeutics is also pursuing global health initiatives in thermostable vaccine delivery aimed at underserved areas worldwide, reflecting its commitment to public health innovation [3] Leadership Background - Andrew Scott brings over 30 years of experience in capital markets and corporate finance, having previously served as Managing Director of Investment Banking at ThinkEquity LLC and Vice President of Business Development at Fortress Biosciences, Inc. [2] - Throughout his career, Mr. Scott has helped raise approximately $3 billion across various transactions within the life sciences sector [2]

Core Insights - Turn Therapeutics has entered into a global supply, development, and license agreement with Medline, enhancing its capabilities in dermatology, wound care, and anti-infective therapies [1][2][3] Company Overview - Turn Therapeutics is a clinical-stage biotechnology company focused on developing next-generation therapies for dermatology, wound care, and infectious diseases, with three FDA clearances for its proprietary formulations [5] - The company is advancing late-stage clinical programs in eczema and onychomycosis and is also involved in global health initiatives for thermostable vaccine delivery [5] Partnership Details - The collaboration with Medline aims to leverage Turn's proprietary PermaFusion® delivery platform for product development, manufacturing, and commercialization [2][3] - Medline is recognized as the largest provider of medical-surgical products and supply chain solutions, operating in over 100 countries and employing more than 43,000 people [4] Strategic Implications - The partnership is viewed as a transformative milestone for Turn, allowing the company to focus on scientific innovation while utilizing Medline's extensive infrastructure to reach professional and consumer markets [3]

Core Insights - Turn Therapeutics is making significant progress in its clinical programs while maintaining a flexible financing strategy through a dilution-sparing direct listing [1][2][3] Capital Strategy and Alignment - The company opted for a direct listing to enhance flexibility and align with long-term shareholder interests, allowing early shareholders to retain their ownership [2] - Through an $85 million GEM Global Yield agreement, Turn has established a flexible financing mechanism that enables opportunistic capital access without the need for traditional offerings at the time of listing [3] Pipeline and Development Update - Turn is advancing its phase 2 trial of GX-03 for moderate to severe eczema, with approximately 25% of the targeted sample size having completed the trial and ongoing enrollment [4] - The study of GX-03, the first topical IL-36/IL-31 inhibitor, is on track, with topline results expected in 2026 and no safety concerns reported for the 25% of participants who have completed the trial [5] - The company is also progressing its thermostable intranasal vaccine initiative, with in-vivo studies set to begin in Q4 2025, reflecting its commitment to global health [6] Company Overview - Turn Therapeutics focuses on developing and commercializing products for dermatology, wound care, and infectious diseases, having received three FDA clearances for its proprietary formulations and advancing late-stage clinical programs [8]