Turn Therapeutics (TTRX) investor relations material

Pipeline and clinical development

• Lead asset GX-03 is a non-systemic, non-steroid topical targeting IL-36, IL-31, and IL-4 for moderate-to-severe atopic dermatitis (AD) and onychomycosis, with additional potential in other inflammatory skin diseases.

• Phase 2 trial for AD is ongoing, with topline results expected mid-2026 and interim assessment in Q2 2026; Phase 3 initiation planned for early 2027.

• GX-03 demonstrated a 57% reduction in disease severity in an in-vivo AD model and significant inhibition of key cytokines (IL-36α, IL-36γ, IL-31, IL-4).

• Phase 1 safety data showed no adverse reactions in 53 patients, and over 200,000 patients have received GX-03 with zero reported adverse events.

• Onychomycosis program is Phase 3 ready, with prior studies showing 70-85% efficacy and no adverse events.

Technology and intellectual property

• PermaFusion is a multi-patented, API-agnostic delivery platform enabling stable, emulsifier-free dispersion of active ingredients for superior skin, nail, and mucous membrane penetration.

• Platform is compatible with any liquid or liquid-soluble API, including live payloads.

• 17 issued patents with coverage through 2037, including US and international protection.

Market opportunity and competitive landscape

• AD affects 16.5M US patients, with a $9.9B market size projected by 2030 and high unmet need for safe, effective, non-injectable therapies.

• Onychomycosis affects 47.6M US patients, with a $2.8B market size by 2030; current topicals have low efficacy (6-18%) and face a patent cliff in 2026.

• GX-03 aims to be a first-line topical for AD and a superior option for onychomycosis, leveraging better efficacy and safety.