Turn Therapeutics Inc.

Turn Therapeutics Inc. (Nasdaq: TURN) is a clinical-stage biopharmaceutical company developing non-systemic, non-biologic topical immunomodulators for inflammatory skin diseases. The company's website is www.turntherapeutics.com.

The company's lead program, GX-03, is a topical formulation containing polyhexanide (PHMB), a well-characterized polymer with a long history of use in wound care that has never been formally approved as an active pharmaceutical ingredient in the United States. GX-03 is currently undergoing clinical evaluation for moderate-to-severe eczema in a randomized, double-blind, vehicle-controlled trial with topline results expected in mid-2026. The company is also advancing GX-03 for onychomycosis, supported by in-vivo data demonstrating nail penetration and antifungal activity. Preclinical studies have demonstrated that GX-03 inhibits cytokines associated with inflammatory skin disease, including IL-31, IL-36α/γ, and IL-4, without evidence of systemic uptake.

Turn Therapeutics operates a capital-efficient business model leveraging external contractors and vendors while maintaining a small internal team. The company has previously obtained FDA 510(k) clearances for medical device formulations containing the same base formula as GX-03, providing historical real-world usage experience and tolerability data. These cleared devices include K183681, a porous antimicrobial gauze that has been licensed to Medline; K160872, indicated for acute and chronic wound management; and K171191, indicated for managing symptoms of atopic, radiation, and irritant dermatitis.

Beyond dermatology, Turn Therapeutics continues exploratory research into a thermostable intranasal vaccine platform based on its PermaFusion suspension technology. Recent work has demonstrated successful recovery of live VSV vaccine vectors from the company's oil-based delivery system at ambient and refrigerated temperatures, suggesting potential for extending vaccine stability without refrigeration.

The company has established commercial partnerships to monetize its medical device portfolio while focusing internal resources on drug development. In October 2025, Turn Therapeutics entered into a collaboration agreement with Medline to develop and commercialize professional and consumer health products leveraging the PermaFusion platform. The company also maintains a licensing agreement with MiMedx for the FleX Product in wound, burn, and surgical care applications.