Turn Therapeutics (TTRX) investor relations material

Strategic focus and proprietary technology

• Developing a precision, non-systemic immunomodulation platform targeting IL-36 and key cytokines for high unmet-need inflammatory diseases, initially focusing on moderate to severe eczema.

• PermaFusion® is a patented, API-agnostic drug delivery platform enabling stable, emulsifier-free dispersion of active ingredients for superior penetration through skin, nails, and mucous membranes.

• GX-03, the lead candidate, is a first-in-class topical IL-36, IL-31, and IL-4 inhibitor, designed for non-systemic, non-steroid treatment of eczema and onychomycosis.

Clinical pipeline and data

• GX-03 is in Phase 2 for moderate-to-severe eczema, with interim analysis in Q1 2026 and topline data in Q2 2026; Phase 3 initiation expected in 2H 2026.

• In vivo studies show GX-03 reduces eczema disease severity by 57% in validated models, with strong inhibition of IL-36 and IL-31.

• For onychomycosis, GX-03 demonstrated 70–85% efficacy in independent human studies and superior nail penetration compared to current topicals.

• The platform also supports a thermostable intranasal vaccine candidate, validated for stability and targeted mucosal immunity.

Market opportunity and differentiation

• Eczema affects 16.5 million in the US, with 40% suffering moderate-to-severe forms; market projected to grow from $16.8B to $37B by 2034.

• Current treatments (biologics, JAK inhibitors, steroids) have significant drawbacks: high cost, systemic side effects, and limited efficacy, highlighting a need for safer, more effective topicals.

• Onychomycosis impacts 47.6 million in the US; current therapies have low cure rates and safety concerns, with a major patent cliff in 2026.

• GX-03 offers a non-steroid, non-cytotoxic, needle-free, and locally acting alternative with an established safety profile.