TTRX Stock — Turn Therapeutics Inc.: Cash, EV, Pipeline

Share price

$14.94

Market cap

$445.0M

Cash

$9.9M

Enterprise value

$441.1M

Balance sheet

Cash	$9.9M
Debt	$6.1M
Net cash	$3.9M
Enterprise value	$441.1M
Basic shares	29.8M shares
Fully diluted shares	33.7M shares
Fully diluted market cap	$503.3M
Cash per share	$0.33

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Mar 3 - Apr 14	GX-03	Phase 2/3	Eczema Atopic Dermatitis; Eczema; Atopic Dermatitis	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

GX-03

Phase 2 · Active Modality: non-systemic topical immunomodulator

Indications

Atopic dermatitis (Phase 2)
Onychomycosis (Preclinical)
Hidradenitis suppurativa (Preclinical)

Catalysts

— None
— None

Status note Lead program; polyhexanide (PHMB)-based non-systemic, non-biologic topical therapy. Randomized, double-blind, vehicle-controlled adaptive Phase 2 trial in adults with atopic dermatitis; interim analysis completed June 2026; trial expanded.

K183681

Approved · Active Modality: antimicrobial gauze (FDA-cleared medical device)

Partnerships Medline Industries (license and supply agreement)

Indications

Wound care (antimicrobial gauze) (Approved)

Status note Porous antimicrobial gauze impregnated with the GX-03 formulation; licensed to Medline under a license and supply agreement.

FleX Product

Stage not disclosed · Active Modality: medical device

Partnerships MiMedx (license)

Indications

Wound and burn care (Stage not disclosed)

Status note Wound and burn care product licensed to MiMedx; revenue recognition deferred pending FDA approval outcome or sufficient information to estimate approval outcome and timelines.

Intranasal vaccine platform

Preclinical · Active Modality: thermostable intranasal vaccine suspension platform

Status note Exploratory preclinical research program into thermostable intranasal vaccine delivery; independent of the dermatology development programs.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	GX-03
Lead indication	Eczema Atopic Dermatitis
Lead phase	Phase 2/3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07355075	Phase 2/3	Recruiting	Sponsor	Turn Therapeutics	—	Eczema Atopic Dermatitis; Eczema; Atopic Dermatitis	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Turn Therapeutics on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

TTRX — Turn Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials