Turn Therapeutics provides shareholder update on clinical program progress

Turn Therapeutics (TTRX) 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. The company said, “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 $85M GEM Global Yield agreement, the Company entered the market with a flexible, on-demand financing vehicle in place. This structure allows Turn to access capital opportunistically, at times and amounts determined by the Company, and eliminated the need for a traditional offering at the time of listing. It also provides the potential to reduce reliance on future equity offerings. 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 25% of the targeted sample size has completed the trial with ongoing enrollment continuing. 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 25% of participants who have completed the trial, representing over 1,000 total confirmed applications of study product or placebo. 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.”