Turn Therapeutics Q3 net loss widens on higher R&D, non-operating charges
TTRX•Turn Therapeutics’ third-quarter net loss widened year over year, with loss per share of $0.21, as research and development and non-operating expenses increased. Cash and equivalents rose to $10.4 million, and the company expects to fund operations into the third quarter of 2027.
1. Quarterly results
Turn Therapeutics reported a wider third-quarter net loss year over year, including a loss per share of $0.21. Higher research and development expenses reflected continued spending on its Phase 2b atopic dermatitis trial, while non-operating charges included changes in the fair value of a derivative liability and amortization of deferred offering and financing costs.
2. Trial and cash outlook
The company advanced trials of GX-03 in atopic dermatitis and accelerated the planned start of its hidradenitis suppurativa study. Cash and equivalents rose to $10.4 million, which Turn Therapeutics expects to fund operations into the third quarter of 2027. It expects topline results from the Phase 2b atopic dermatitis trial in the first quarter of 2027, and enrollment in the Phase 2a hidradenitis suppurativa trial is now expected to begin then.
