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TTRX

Turn Therapeutics Inc.

TTRX

Turn Therapeutics Inc. • NASDAQ
$3.52 ▲ 3.53% (+0.12)
Market Cap $103.65 M
52w High $26.50
52w Low $2.57
Dividend Yield 0%
P/E -27.08
Volume 20.25K
Outstanding Shares 29.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $1.367M ▲ $-1.24M ▼ 0% $0 $-1.367M ▼
Q2-2024 $0 $360.18K $-351.936K 0% $0 $-360.18K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $3.19M $4.331M $2.557M $1.774M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Five-Year Company Overview

Income Statement

Income Statement Turn Therapeutics appears to be a very early, clinical‑stage biotech with no meaningful product revenue yet. That usually means the income statement is dominated by research and development spending and other operating costs, leading to ongoing losses while the pipeline is developed. Because formal financial details are essentially missing here, it’s safest to assume the business is still firmly in the “investment phase” — spending to build value in its technology and clinical programs rather than generating earnings. Future results will hinge largely on whether its lead programs progress successfully through trials and can be commercialized or partnered on attractive terms.

Balance Sheet

Balance Sheet The balance sheet information provided is effectively blank, so it’s not possible to comment on cash levels, debt, or capital structure with precision. Conceptually, a company at this stage typically relies heavily on equity financing and partnerships, with cash as the critical resource to fund multi‑year trials. Key questions for readers are: how long is the cash runway, how dependent is the company on future capital raises, and is there any material debt that could constrain flexibility? Without those answers, the financial strength side of the story remains an open question, even though the technology story is better defined.

Cash Flow

Cash Flow With no operating revenue yet, cash flow is likely driven mainly by outflows: funding clinical trials, regulatory work, manufacturing scale‑up, and general overhead. Inflows, for now, probably come from past financings and any upfront or milestone payments from partners like Medline, rather than from product sales. For a business like this, the central cash‑flow issue is whether it can consistently raise or earn enough cash to support trial milestones without overly diluting existing shareholders or taking on burdensome obligations. Until products are on the market, cash burn and financing access are the key financial watchpoints.

Competitive Edge

Competitive Edge Turn Therapeutics’ competitive position is built around its PermaFusion platform, which aims to solve a real problem in topical drug delivery: getting active ingredients deep into skin and nails in a stable, tolerable way. Its patent portfolio, existing FDA‑cleared devices, and the Medline partnership together create a meaningful barrier to entry for direct copycats and provide some commercial muscle it otherwise wouldn’t have as a small company. On the other hand, it operates in crowded spaces — dermatology, wound care, infection — where it faces large, well‑funded pharma and biotech competitors. Its edge will depend on demonstrating clearly better outcomes, safety, or convenience in clinical data, and then turning that into real prescribing and adoption in the market.

Innovation and R&D

Innovation and R&D Innovation is clearly the company’s strongest pillar. The PermaFusion platform is versatile and already underpins cleared products and a growing pipeline. The lead eczema drug, GX‑03, targets a relatively novel inflammatory pathway and aims to offer a non‑steroidal option in a large, established market. The onychomycosis program targets an area where existing topicals often underperform, and the early vaccine‑stability work hints at much broader application beyond dermatology. All of this is promising, but also early: pivotal late‑stage trial data, regulatory decisions, and real‑world performance are still ahead. R&D execution and trial outcomes will largely determine whether this innovation translates into durable value.

Summary

Turn Therapeutics is best viewed as a high‑risk, innovation‑driven clinical‑stage biotech: strong on science and intellectual property, but still unproven financially. The story today is much more about technology platforms, clinical milestones, and strategic partnerships than about revenue or profits. Its PermaFusion platform, existing FDA clearances, and Medline relationship create a credible foundation, yet the company still must clear major hurdles: successful mid‑ and late‑stage trials, regulatory approvals for drug candidates, effective commercialization, and ongoing access to capital. Outcomes for stakeholders will likely track closely with the pace and quality of clinical data over the next several years and the company’s ability to fund that journey without overextending itself.

NEWS

November 13, 2025 · 8:00 AM UTC

Turn Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Updates

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November 11, 2025 · 4:05 PM UTC

Turn Therapeutics CEO, Bradley Burnam, Speaks with Former Director of the Centers for Disease Control and Prevention Dr. Robert Redfield, M.D.

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November 11, 2025 · 8:00 AM UTC

Turn Therapeutics' GX-03 Technology Named as One of “Five Novel Mechanisms Reshaping Atopic Dermatitis Treatment” by Patient Care Online Magazine

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November 4, 2025 · 5:07 PM UTC

Turn Therapeutics Appoints Veteran Capital Markets Executive Andrew Scott as Vice President of Corporate Communications

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October 30, 2025 · 7:30 AM UTC

Turn Therapeutics Enters Global Supply, Development, and License Agreement with Leading Medical-Surgical Product Manufacturer and Distributor Medline

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