Turn Therapeutics Posts Q2 Loss, Expands GX-03 Phase 2 on Strong Interim Data

summarizeSummary

Q2 2026 results included a $5.85M net loss and $10.3M cash runway into Q3 2027. Interim Phase 2 data for GX-03 showed strong efficacy, leading to trial expansion and plans for a new indication.

check_boxKey Events · Earnings and Guidance · TTRX

• Q2 2026 Financial Results

  Net loss of $5.85M for Q2 2026, including a non-cash derivative liability fair value loss of $3.34M. Cash and cash equivalents of $10.3M as of June 30, 2026, providing runway into Q3 2027.

• GX-03 Phase 2 Interim Efficacy

  Interim data showed 61.5% vs 8.3% clear/almost clear skin at Week 4, 69.2% vs 25.0% EASI-75 at Week 4, 53.8% vs 16.7% EASI-90 at Week 8, and 46.2% vs 8.3% EASI-100 at Week 8.

• Phase 2 Trial Expansion

  Stage 2 enrollment expanded to 120-135 patients with broader disease extent, providing at least 99.8% statistical power across four efficacy endpoints. Enrollment expected to complete by end of 2026.

• New Indication: Hidradenitis Suppurativa

  Company plans a Phase 2a study in hidradenitis suppurativa, enrolling approximately 60 patients, with first patient dosing targeted for Q2 2027.

auto_awesomeAnalysis · TTRX · Life Sciences

A Q2 net loss of $5.85 million was reported, driven largely by a non-cash derivative liability fair value charge of $3.34 million. The company's cash position of $10.3 million provides runway into Q3 2027. More importantly, interim Phase 2 data for GX-03 in atopic dermatitis showed strong efficacy across all four endpoints, prompting expansion of the trial to 120-135 patients with 99.8% statistical power. Plans were also announced to expand into hidradenitis suppurativa with first patient dosing targeted for Q2 2027.