Business Wire·Mar 31, 2026, 4:05 PM ET

Turn Therapeutics Reports Full Year 2025 Financial Results and Provides Corporate Updates

TTRX

Turn Therapeutics reported full-year 2025 financial results & provided corporate updates on March 30, 2026.
The Phase 2 trial for lead drug GX-03 in moderate-to-severe atopic dermatitis is on track for topline results in mid-2026.
The company secured up to $25 million in growth capital via a venture debt facility from Avenue Capital Group in March 2026.
The Avenue Capital facility has a 42-month term, includes an initial $7 million tranche, & allows for up to $18 million in additional tranches subject to milestones.
Cash & cash equivalents as of December 31, 2025, were $5.08 million, excluding the $7 million initial tranche from the new facility.
Dr. Robert Redfield, former CDC Director, was appointed to provide strategic guidance on GX-03 development & regulatory pathways.
Martin Dewhurst was appointed to the Board of Directors to leverage over 30 years of life sciences strategy & M&A experience.
Turn Therapeutics entered a global supply, development, & license agreement with Medline to commercialize products using its PermaFusion® delivery platform, with revenue generation expected in late 2026.
The intranasal vaccine pipeline expanded to include an influenza candidate designed to stimulate systemic immunity via targeted intranasal exposure.
Full-year 2025 R&D expenses were $0.3 million, compared to $0.2 million in 2024.
Full-year 2025 General & Administrative expenses were $5.5 million, a $4.0 million increase from 2024 driven by costs associated with the public listing.
The company reported a net loss of $3.19 million for 2025, with basic & diluted net loss per share at $0.12.
Total assets as of December 31, 2025, reached $12.16 million, while total stockholders' equity turned positive at $4.69 million.