Turn Therapeutics Inc.
Business
Turn Therapeutics develops non-systemic, non-biologic topical immunomodulators for inflammatory skin diseases, with lead program GX-03 in clinical development for moderate-to-severe eczema and onychomycosis. The company offers topical drug candidates based on polyhexanide (PHMB) with demonstrated cytokine-inhibition and antimicrobial properties, along with a portfolio of FDA-cleared medical devices for wound and dermatitis management. Turn operates through clinical development of pharmaceutical candidates and licensing partnerships for medical device commercialization, with therapeutic focus on dermatology and exploratory work in thermostable intranasal vaccines.
Summary from 10-K filed 2026-07-01
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| General and administrative | 6 | 2 | |
| Research and development | 265,570 | 245,956 | |
| Total operating expenses | 6 | 2 | |
| Loss from operations | −6 | −2 | |
| Net gain from change in fair value of derivative liability instrument | 3 | — | |
| Gain from change in fair value of forward contract liability | 380,442 | — | |
| Amortization of deferred offering cost | −496,948 | — | |
| Interest income | 29,583 | 28,709 | |
| Other income | 176,520 | — | |
| Total other income | 3 | 28,709 | |
| NET LOSS | −3 | −2 | |
| Basic net loss per common share | −0.12 | −0.07 | |
| Diluted net loss per common share | −0.12 | −0.07 | |
| Weighted-average common shares outstanding, basic | 28 | 27 | |
| Weighted-average common shares outstanding, diluted | 28 | 27 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 5 | 872,599 | — | |
| Prepaid expenses and other current assets | 120,300 | 225,325 | — | |
| Total current assets | 5 | 1 | — | |
| Right-of-use asset | 78,620 | 120,452 | — | |
| Intangible assets, net | 922,171 | 821,931 | — | |
| Deferred offering cost, net | 6 | — | — | |
| Security deposit | 8,582 | 8,582 | — | |
| TOTAL ASSETS | 12 | 2 | — | |
| Accounts payable and accrued expenses | 3 | 667,272 | — | |
| Derivative liability instrument | 3 | — | — | |
| Current portion of operating lease liability | 46,295 | 40,660 | — | |
| Total current liabilities | 6 | 707,932 | — | |
| Operating lease liability, net of current portion | 34,081 | 80,376 | — | |
| Deferred revenue | 1 | 1 | — | |
| TOTAL LIABILITIES | 7 | 2 | — | |
| Commitments and contingencies (Note 12) | — | — | — | |
| Common Stock, $0.0001 par value, 500 million and 40 million shares authorized at December 31, 2025 and 2024, respectively; 29,445,183 and 26,845,690 shares issued at December 31, 2025 and 2024*, respectively | 2,943 | 2,684 | — | |
| Additional paid-in capital | 28 | 19 | — | |
| Subscription receivable | −1 | — | — | |
| Accumulated deficit | −22 | −19 | — | |
| Total stockholders equity (deficit) | 5 | −177,432 | 85,768 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT) | 12 | 2 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Depreciation and amortization | 52,746 | 47,483 | |
| Stock-based compensation expense | 419,245 | 352,833 | |
| Non-cash operating lease expense | 1,172 | 8,650 | |
| Common stock issued in exchange for services | 250,000 | — | |
| Prepaid expenses and other current assets | 105,025 | −204,505 | |
| Accounts payable and accrued expenses | 2 | 202,649 | |
| Net cash used in operating activities | −3 | −1 | |
| Purchases of intangible assets | −152,986 | −99,475 | |
| Net cash used in investing activities | −152,986 | −99,475 | |
| Proceeds from issuance of stock, net of issuance costs | 7 | 1 | |
| Net cash provided by financing activities | 7 | 1 | |
| Net increase (decrease) in cash and cash equivalents | 4 | −308,398 | |
| Right-of-use asset acquired against lease liability | — | 133,615 | |
| Common stock issued for deferred offering cost | 850,000 | — | |
| Settlement of forward contract liability for sale of shares to GEM pursuant to Initial Draw Down Notice | 380,442 | — | |
| Issuance of warrant under Share Purchase Agreement for deferred offering costs | 6 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Turn Therapeutics Inc.'s CIK number?
Turn Therapeutics Inc.'s SEC CIK number is 0002023016 (2023016). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Turn Therapeutics Inc.'s SEC filings?
All of Turn Therapeutics Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Turn Therapeutics Inc. last report earnings?
Turn Therapeutics Inc. (TTRX) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-054480). This is Turn Therapeutics Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Turn Therapeutics Inc.'s most recent earnings 8-K?
Turn Therapeutics Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001213900-26-054480. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Turn Therapeutics Inc.'s latest earnings 8-K →
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