Thermostable vaccine delivery
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Turn Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Updates
Globenewswire· 2025-11-13 13:00
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]