Turn Therapeutics (TTRX) Oppenheimer 36th Annual Healthcare Life Sciences Conference summary

Company focus and innovation

• Specializes in dermatology, targeting inflammatory skin diseases with non-systemic topicals.

• Lead asset GX-03 is in mid-phase II for moderate to severe eczema, using a unique oil-based delivery system without emulsifiers.

• Pipeline includes upcoming phase III trials for both eczema and onychomycosis, with additional undisclosed candidates.

• GX-03 has a strong safety record from prior wound care applications and ongoing trials.

• Holds over seven patent families and 17 issued patents covering compositions, methods, and treatments.

Clinical development and trial design

• Phase II eczema trial is large (214-220 patients), adaptive, and fully capitalized, with interim and final readouts expected in Q2 2026.

• Primary endpoint is change in Eczema Area and Severity Index (EASI); secondary endpoints include Investigator Global Assessment and itch reduction.

• Adaptive interim analysis allows for sample size adjustment without loss of statistical power, enhancing trial robustness.

• Safety data from a 53-patient phase I trial showed no adverse reactions over 580 applications.

• Phase III for onychomycosis planned for Q1 2027, leveraging strong efficacy data from prior studies.

Mechanism of action and market positioning

• GX-03 interrupts the IL-36 inflammatory cascade, reducing both alpha and gamma IL-36, as well as IL-31 and IL-4 signaling.

• Demonstrated 57% reduction in disease severity in an IL-36-induced atopic dermatitis model.

• Aims to be a first-line, non-steroidal, non-systemic topical for eczema, addressing unmet needs in moderate to severe cases.

• Efficacy in onychomycosis exceeds current topicals, with up to 85% success in clinical trials.

• Potential expansion into hidradenitis suppurativa and chronic pruritus based on mechanism overlap.