Business Wire·May 11, 2026, 4:05 PM ET

Turn Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Updates

Turn Therapeutics reported financial results for the three months ended March 31, 2026, alongside corporate updates.
The company secured a growth capital facility with Avenue Capital Group on March 23, 2026, providing access to up to $25 million in term loans.
An initial tranche of $7 million from the Avenue facility was funded on March 24, 2026, with up to $18 million remaining available upon meeting specific milestones.
Cash 03 Phase 2 trial for moderate-to-severe atopic dermatitis is on schedule, with an interim analysis expected in Q2 2026 03 top-line results expected mid-2026.
An independent data monitoring committee will assess the conditional probability of success during the interim analysis to determine if the study should continue as designed or expand enrollment.
GX-03 demonstrated nail-plate penetration 03 significant reduction of fungal burden in in-vivo studies, supporting potential development as a topical treatment for onychomycosis.
Cash 03 cash equivalents increased to $11.2 million as of March 31, 2026, from $5.08 million as of December 31, 2025.
General 03 administrative expenses rose to $1.1 million for the quarter ended March 31, 2026, compared to $0.4 million in the same period of 2025.
The company reported a net loss of $970,972 for the three months ended March 31, 2026, resulting in a net loss per share of $0.03.
Total assets reached $18.6 million as of March 31, 2026, while total liabilities increased to $12.5 million.