Turn Therapeutics Provides Shareholder Update Highlighting Continued Execution Across Clinical and Strategic Milestones
Rhea-AI Summary
Turn Therapeutics (Nasdaq: TTRX) provided a shareholder update on October 22, 2025 outlining clinical progress and a flexible capital plan following a dilution-sparing direct listing.
Key items: a $85 million GEM Global Yield agreement provides on-demand financing; the randomized Phase 2 trial of topical GX-03 for moderate to severe eczema is ~25% complete with >1,000 confirmed study product applications and a blinded aggregate safety summary reporting no safety or tolerability concerns to date; topline GX-03 results are anticipated in 2026. Turn also plans in‑vivo studies for a thermostable intranasal vaccine initiative in Q4 2025. The company hosted a shareholder webinar on October 22, 2025 at 2:00 PM ET.
Positive
- $85M GEM Global Yield agreement provides on‑demand financing
- Phase 2 GX-03 trial is progressing with ~25% of target completed
- >1,000 confirmed study product applications with no blinded safety concerns
- In‑vivo studies for thermostable intranasal vaccine scheduled in Q4 2025
Negative
- Only ~25% of Phase 2 enrollment completed, leaving majority of data pending
- Topline GX-03 results not expected until 2026, prolonging definitive readout
News Market Reaction
On the day this news was published, TTRX declined 11.81%, reflecting a significant negative market reaction. Argus tracked a peak move of +8.2% during that session. Argus tracked a trough of -9.1% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $19M from the company's valuation, bringing the market cap to $139M at that time.
Data tracked by StockTitan Argus on the day of publication.
Company to host shareholder webinar today, October 22, 2025, at 2:00 PM ET to review execution milestones, pipeline progress, and capital strategy
WESTLAKE VILLAGE, Calif., Oct. 22, 2025 (GLOBE NEWSWIRE) -- Turn Therapeutics (Nasdaq: TTRX) (“Turn” or the “Company”), a clinical-stage biotechnology company developing next-generation dermatology, wound, and anti-infective therapies, provides a shareholder update outlining continued progress in the advancement of its clinical programs while highlighting the flexibility of its financing strategy following its dilution-sparing direct listing.
Capital Strategy and Alignment
Turn chose a direct listing structure to prioritize flexibility and long-term shareholder alignment. By bypassing traditional crossover rounds and IPO share issuance, early shareholders maintained their ownership positions.
Through its
Pipeline and Development Update
Turn continues to advance its phase 2, randomized, double-blind, placebo-controlled trial of GX-03 as a potential treatment for moderate to severe eczema. As of now, approximately
This study of GX-03, the first topical IL-36/IL-31 inhibitor, is progressing as planned, with topline results anticipated in 2026. A blinded, aggregate safety summary provided by the contract research organization indicated no safety or tolerability concerns across the
In parallel, the Company continues to advance development of its thermostable intranasal vaccine initiative, with in-vivo studies scheduled to commence in Q4 2025. This global health initiative reflects the Company’s broader mission to make advanced medicine accessible worldwide.
Shareholder Webinar – October 22, 2025, 2:00 PM ET
As previously announced, Turn will host a live shareholder webinar today at 2:00 PM ET to review its development roadmap, capital strategy, and near-term milestones. Participants may join via the following link: Join Live Webinar.
A copy of the recording and any materials used will be available after the presentation on the public relations section of the Company’s website, www.turntherapeutics.com.
About Turn Therapeutics
Turn Therapeutics is a biotechnology company developing and commercializing products for dermatology, wound care, and infectious disease. The company has received three FDA clearances for its proprietary wound and dermatology formulations and is advancing late-stage clinical programs in eczema and onychomycosis. In addition, Turn is pursuing global health initiatives in thermostable vaccine delivery designed to serve underserved areas worldwide, reflecting its commitment to public health innovation.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Turn’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict, including risks related to the success of development programs and the Company’s ability to execute its strategic plan. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Turn in general, see the section titled “Risk Factors” in the Company’s final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended, filed with the Securities Exchange Commission (the “SEC”) on October 8, 2025 (Registration No. 333-289972) and in other documents that the Company files with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov. All such forward-looking statements speak only as of the date they are made, and Turn undertakes no obligation to update or revise these statements, whether as a result of new information, future events, or otherwise.
Media Contact:
media@TurnTherapeutics.com
Investor Relations:
Investors@TurnTherapeutics.com
FAQ
What financing agreement did Turn Therapeutics (TTRX) announce on October 22, 2025?
How far along is Turn Therapeutics' (TTRX) Phase 2 trial of GX-03 as of October 22, 2025?
When does Turn (TTRX) expect topline results for the GX-03 Phase 2 trial?
Did Turn report any safety issues in the GX-03 trial update on October 22, 2025?
What near-term vaccine development milestone did Turn Therapeutics (TTRX) announce for Q4 2025?
How can investors access Turn Therapeutics' shareholder webinar held October 22, 2025?
