Turn Therapeutics Inc. · NASDAQ:TTRX
Turn Therapeutics — 2026 Jefferies Global Healthcare Conference
28 slides from Turn Therapeutics's conference presentation, Jun 3, 2026
Slide 1: 2026 Jefferies Global Healthcare Conference
2026 Jefferies Global Healthcare Conference June 2026
Slide 2: Disclaimer
2 Disclaimer Except for historical information set forth herein, the matters set forth in this presentation contain forward - looking statement s within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward - looking statements may be identif
Slide 3: PermaFusion: API Agnostic Delivery Platform
3 API in Liquid Solvent Patented Multi - Step Mixing Process w/out Emulsifier Petro / Oil Carrier A transformative delivery platform enabling stable, emulsifier - free dispersion of active ingredients in oil - based carriers for superior penetration by APIs • Multi - patented, proprietary process •
Slide 4: Executive Summary
Turn Therapeutics is a biotechnology company developing first - in - class, precision, non - systemic immunomodulation therapies that target IL - 36 and key downstream cytokines to address high - unmet - need inflammatory diseases, with an initial focus on moderate to severe AD. 1. In other FDA clea
Slide 5: Turn Tx Pipeline
5 Medical Devices FDA - cleared antimicrobial surgical gauze out - licensed Sterile collagen powder out - licensed for $70M+ milestones Turn Tx Pipeline PHASE 3 PHASE 2 PHASE I PRECLINICAL Moderate - to - Severe Atopic Dermatitis (AD) GX - 03 IL - 36, IL - 36, IL - 31 and IL - 4 inhibitor Non - syst
Slide 6: for AD
6 GX - 03 for AD IL - 31 IL - 4 IL - 36
Slide 7: The Chronic Inflammatory 'Loop'
7 The Chronic Inflammatory ‘Loop’ TH2 IL - 4, IL - 13, IL - 31 IL - 31 Chronic AD Cycle IL - 31 Drives Itch & Scratch Skin Barrier Disruption Skin barrier disruption results in release of IL - 36 IL - 36 initiates TH2 signaling with IL - 4, IL - 13, and IL - 31 release IL - 31 release drives itch wh
Slide 8: Stop the 'Loop'
8 Stop the ‘Loop’ GX - 03 Inhibition 8 GX - 03 suppresses IL - 36 release via targeted modulation of the epithelial microenvironment, blunting Th2 response GX - 03 suppresses Il - 31 signaling, blunting itch/scratch signal and continued barrier disruption IL - 36 and IL - 31 Inhibition GX - 03 targe
Slide 9: Phase 2 Adaptive Study Design
9 Phase 2 Adaptive Study Design Design: • Double - blind • 1:1 Randomized • Vehicle Controlled • Week 4 and Week 8 Endpoints • IDMC Governed Adaptive Design 9 Initial Trial Design – Stage 1 Endpoints & Exploratory Measurements: • vIGA 0 or 1 and ≥ 2 points drop at W4 & W8 • % change in EASI at W4 &
Slide 10: Interim Analysis Population - Baseline Characteristics
FAS GX-03 Vehicle N = 50 N = 27 N = 23 Baseline EASI Mean 8.19 10.16 5.87 Range 1.2 - 43.1 1.2 - 43.1 1.4 - 19.5 Standard Deviation 8.85 10.93 4.77 Baseline EASI ≥ 21, n (%age) 4 (8%) 4 (15%) 0 (0%) Baseline IGA [0-4 score] Mean 3.12 3.19 3.04 Range 2 - 4 3 - 4 2 - 4 Standard Deviation 0.39 0.40 0.3
Slide 11: Interim Analysis – Summary Results of Stage 1 Endpoints
Interim Analysis – Summary Results of Stage 1 Endpoints and Commonly Tracked AD Measurements 11 GX-03 Vehicle GX-03 Vehicle At Week 4 At Week 4 Difference At Week 8 At Week 8 Difference Change EASI Mean % Reduction 79.43% 50.55% 28.88% 77.22% 62.70% 14.52% EASI-50 (%pts) 92.6% 65.2% 27.39% 81.5% 69.
Slide 12: Interim Analysis - EASI Percentage Reduction Over Time
Interim Analysis - EASI Percentage Reduction Over Time 12 EASI Change from Baseline (%) 79.43% 77.22% 50.55% 62.70
Slide 13: Interim Analysis - EASI Responder Rates
Interim Analysis - EASI Responder Rates 13 % P atients achieving response Deepening of response observed in patients with higher baseline EASI
Slide 14: Select Patients With High Baseline Disease Burden
Select Patients With High Baseline Disease Burden 14 34.8 0.2 0.0 3 1 0 ▼ EASI - 100 IGA = 0 12.8 3.6 0.0 3 2 0 ▼ EASI - 100 IGA = 0 16.4 1.6 0.4 4 1 1 ▼ EASI - 90 IGA = 1 3 2 2 13.2 4.8 2.4 4 4 3 19.5 14.4 12.8
Slide 15: Interim Analysis - Safety Summary
Interim Analysis - Safety Summary 15 * Subject reported a mild warming sensation that was described as pleasant. ** Subject reported a common cold which was determined by PI to be unrelated to study. “ Favorable safety and tolerability profile is encouraging and supports the potential for GX - 03 to
Slide 16: Interim Analysis Findings Compared to Pivotal Trials for Approved Topicals
GX - 03 Interim Analysis Findings Compared to Pivotal Trials for Approved Topicals ** 16 * * * * * * * Product approved for mild - to - moderate Atopic Dermatitis ** For illustrative purposes only: Not a head - to - head analysis. Comparisons of data should be interpreted with caution due to di ffer
Slide 17: Trial Optimization Strategy – Stage 2
17 Trial Optimization Strategy – Stage 2 17 Endpoint Strategy : Interim findings suggest GX - 03 activity may be most visible and clinically meaningful in earlier efficacy measures evaluating reduction in inflammatory burden . Based on these observations and advisor feedback, Stage 2 is expected to
Slide 18: Market Opportunity - Commercial Opportunity
18 GX - 03 Market Opportunity GX - 03 - Commercial Opportunity 02 03 Topical JAK / PDE4 With or without steroids due to moderate efficacy Side effects and black - box warnings Biologics Systemic burden Immunosuppression and site reactions 01 Topical Steroids Quick relief Consistent use can cause nec
Slide 19: Phase 3 Ready for Onychomycosis (Toenail Fungus)
19 (Toenail Fungus) Phase 3 Ready GX - 03 for Onychomycosis
Slide 20: Phase 2 Equivalent Study
20 Study Results • Visible evidence of Beau’s line development, clear nail plate • 70% efficacy (approx .) with once - daily application • 85% efficacy (approx .) with BID application • No adverse events reported during the study Study Design • N ~ 100 • GX - 03 applied once daily or BID application
Slide 21: Nail penetration and fungal burden reduction
21 1. pubmed.ncbi.nlm.nih.gov GX - 03 successfully penetrated nails and eliminated fungal pathogens in the standard model In the same in - vivo model, GX - 03 successfully penetrated the nail, REDUCING FUNGAL BURDEN BY 12 % - 18% with just two weeks of application. ¹ Lipid - based delivery enables p
Slide 22: Path to Market and Onychomycosis TAM
22 2026 Phase 3 Ready 2029 Planned Launch GX - 03 Path to Market 3 High Unmet Needs • Effective therapies as current topical treatments are only 6 - 18% effective • Patent cliff for current onychomycosis treatments in 2026 Onychomycosis TAM & Prevalence 3. Subject to successful completion of each ph
Slide 23: Our Science
TURN THERAPEUTICS Our Science
Slide 24: Broader Opportunities in Dermatology and I&I Diseases
IL - 36 Auto - immune Blistering Diseases Psoriasis Actinic Keratosis Hidradenitis Suppurativa IL - 31 Prurigo Nodularis Bullous Pemphigoid Chronic Pruritus GX - 03 Broader Opportunities in Dermatology and I&I Diseases 24
Slide 25: Corporate & Financial Highlights
25 Corporate & Financial Highlights
Slide 26: Financial & IP Highlights
26 Financial & IP Highlights $18M Cash burned since inception $55 - 60M Expected R&D spend for Phase 3 trials on both indications ~$250K/mo. Expected G&A burn as a public co. $10 - 13M Expected G&A spend to thru 2028 $ 29M Total money raised since inception (2015) $11M Cash Balances As of March 31,
Slide 27: Board Members, Advisors & KOLs
27 Board Members Advisors & KOLs Arthur Golden, JD Andrew Gengos Kent Kester, MD Martin Dewhurst Senior Counsel, Davis Polk & Wardwell Former CFO Terns Pharmaceuticals Executive Director, Vaccine Research and Development at CEPI McKinsey Veteran Senior Advisor at PJT Partners Bradley Burnam Dr. Step
Slide 28: Thank You
Investors@turntherapeutics.com 250 N. Westlake Blvd, #210 Westlake Village, CA 91362 Thank You.
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