Financial Performance - Turn Therapeutics reported a net loss of $3.19 million for the year ended December 31, 2025, compared to a net loss of $1.77 million in 2024, representing an increase of 80.4%[6] - General and Administrative (G&A) expenses rose to $5.5 million in 2025, a significant increase of 266.7% from $1.5 million in 2024, primarily due to costs associated with the company's public listing[5] - Total liabilities increased to $7.48 million in 2025 from $2.23 million in 2024, indicating a rise of 235.4%[6] Research and Development - Research and Development (R&D) expenses for 2025 were $0.3 million, up from $0.2 million in 2024, indicating a 50% increase year-over-year[5] - The Phase 2 trial for GX-03 in moderate-to-severe atopic dermatitis is on track, with topline results expected in mid-2026[2] - The company expanded its intranasal vaccine pipeline to include an intranasal influenza candidate, leveraging its proprietary delivery technology[5] Capital and Funding - Cash and cash equivalents as of December 31, 2025, were $5.08 million, excluding the $7 million in gross proceeds from the Avenue Capital facility[5] - The company secured up to $25 million in growth capital from Avenue Capital to support its cash runway through the end of 2027[3] Business Development - Turn Therapeutics entered into a global supply, development, and license agreement with Medline, aiming to generate revenue in late 2026[5] - Total assets as of December 31, 2025, were $12.16 million, compared to $2.05 million in 2024, reflecting a substantial increase[6]
Global Health Solutions(TTRX) - 2025 Q4 - Annual Results