Turn Therapeutics | 8-K: FY2026 Q2 Revenue: USD 0

Revenue: As of FY2026 Q2, the actual value is USD 0.

EPS: As of FY2026 Q2, the actual value is USD -0.2.

EBIT: As of FY2026 Q2, the actual value is USD -5.608 M.

Turn Therapeutics Inc. released its financial and operating results for the quarter ended June 30, 2026, on August 12, 2026.

Cash and Cash Equivalents

Turn Therapeutics Inc. reported $10,288,510 in cash and cash equivalents as of June 30, 2026, an increase from $5,076,144 as of December 31, 2025.

General and Administrative (G&A) Expenses

G&A expenses for the three months ended June 30, 2026, were $1,152,996, a decrease from $1,303,846 for the same period in 2025. For the six months ended June 30, 2026, G&A expenses were $2,258,325, compared to $1,679,591 for the six months ended June 30, 2025.

Research and Development (R&D) Expenses

R&D expenses for the three months ended June 30, 2026, increased to $475,064 from $62,678 for the three months ended June 30, 2025, reflecting increased trial activity. For the six months ended June 30, 2026, R&D expenses were $584,498, compared to $71,937 for the six months ended June 30, 2025.

Total Operating Expenses

Total operating expenses were $1,628,060 for the three months ended June 30, 2026, up from $1,366,524 for the same period in 2025. For the six months ended June 30, 2026, total operating expenses were $2,842,823, an increase from $1,751,528 for the six months ended June 30, 2025.

Loss from Operations

Loss from operations for the three months ended June 30, 2026, was -$1,628,060, compared to -$1,366,524 for the same period in 2025. For the six months ended June 30, 2026, loss from operations was -$2,842,823, compared to -$1,751,528 for the six months ended June 30, 2025.

Other Income (Expense)

• Net loss from change in fair value of derivative liability instrument was -$3,341,568 for the three months ended June 30, 2026, and -$2,644,007 for the six months ended June 30, 2026.
• Amortization of deferred offering cost was -$638,747 for the three months ended June 30, 2026, and -$1,116,394 for the six months ended June 30, 2026.
• Interest income (expense), net, was -$241,359 for the three months ended June 30, 2026, compared to $5,134 for the same period in 2025. For the six months ended June 30, 2026, it was -$223,219, compared to $10,296 for the six months ended June 30, 2025.
• Other income was $0 for the three months ended June 30, 2026, compared to $120,975 for the same period in 2025. For the six months ended June 30, 2026, it was $5,578, compared to $172,260 for the six months ended June 30, 2025.
• Total other income (expense) was -$4,221,674 for the three months ended June 30, 2026, compared to $126,109 for the same period in 2025. For the six months ended June 30, 2026, it was -$3,978,042, compared to $182,556 for the six months ended June 30, 2025.

Net Loss

Turn Therapeutics Inc. reported a net loss of -$5,849,734 for the three months ended June 30, 2026, an increase from -$1,240,415 for the same period in 2025. For the six months ended June 30, 2026, the net loss was -$6,820,865, compared to -$1,568,972 for the six months ended June 30, 2025.

Balance Sheet Data

• Total assets were $16,960,719 as of June 30, 2026, compared to $12,162,241 as of December 31, 2025.
• Total liabilities were $16,273,831 as of June 30, 2026, compared to $7,475,518 as of December 31, 2025.
• Total stockholders’ equity was $686,888 as of June 30, 2026, compared to $4,686,723 as of December 31, 2025.

Outlook / Guidance

Turn Therapeutics Inc. expects to complete enrollment for its Phase 2 study by the end of 2026. The company anticipates that its current cash and cash equivalents will fund operations into the third quarter of 2027. They are targeting the first patient enrollment for the GX-03 Phase 2a study in Hidradenitis Suppurativa for the second quarter of 2027.