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]
Turn Therapeutics Provides Shareholder Update Highlighting Continued Execution Across Clinical and Strategic Milestones