Turn Therapeutics Inc. · NASDAQ:TTRX
Turn Therapeutics — Investor Presentation (July 2026)
25 slides from Turn Therapeutics's investor presentation, Jul 7, 2026
Slide 1: GX-03: Phase 2, Stage 2 Overview & Additional Interim Analysis Insights
GX-03: Phase 2, Stage 2 Overview & Additional Interim Analysis Insights Investor Webcast Presentation July 7, 2026
Slide 2: Disclaimers & Safe Harbour
2 Disclaimers & Safe Harbour Except for historical information set forth herein, the matters set forth in this presentation contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may
Slide 3: Bradley Burnam, Chief Executive Officer
3 Bradley Burnam Chief Executive Officer
Slide 4: Why Do a Staged Adaptive Study?
4 Why Do a Staged Adaptive Study? 4 Learn from Stage 1 findings to design Stage 2 for clinical success Core Purpose of an Adaptive Design Study Strategic Advantage of Adaptive Trials ▪Higher Probability of Success: Refinement of Stage 2 from learnings of Stage 1 increases the probability of success
Slide 5: How is Atopic Dermatitis Severity Measured?
How is Atopic Dermatitis Severity Measured? 5 Lesion Severity vs Inflammatory Burden Lesion Severity Measured through vIGA-AD Inflammatory Burden Measured through EASI vIGA = 4 EASI≈1.1 vIGA = 4 EASI ≈ 17 ▪ Validated Investigator Global Assessment (vIGA-AD): A 5 point scale (0-4) rating overall dise
Slide 6: Moderate-Severe AD: Assessing for Stage 1 EASI Enrichment
6 Moderate-Severe AD: Assessing for Stage 2 EASI Enrichment IGA 3/4 & Baseline EASI ≥ 10 6 Baseline Characteristics GX-03 n=9 Vehicle n=4 Mean EASI (SD) 22.1 (10.8) 14.8 (3.51) Mean vIGA (SD) 3.44 (0.49) 3.25 (0.43) Endpoint GX-03 (n=9) Vehicle (n=4) Treatment Difference Week 4 vIGA-AD Success vIGA
Slide 7: Interim Analysis - EASI 1.1 Subgroup Presents as Meaningful on Key Disease Clearance Endpoints
7 Interim Analysis - EASI 1.1 – 7 Subgroup Presents as Meaningful on Key Disease Clearance Endpoints 7 Endpoints GX-03 (n=14) Vehicle (n=18) Treatment Difference Week 4 vIGA-AD Success vIGA of 0/1 with ≥ 2 grade improvement 71.4% (10/14) 33.3% (6/18) Δ 38.1% Week 4 EASI-100 28.6% (4/14) 5.6% (1/18)
Slide 8: Pruritus as Potential Predictive Biomarker for AD Success
Pruritus as Potential Predictive Biomarker for AD Success 8 Week 4 vIGA-AD Success (vIGA of 0/1 with ≥ 2 grade improvement) Week 4 EASI-75 (≥75% Improvement from Baseline) Week 8 EASI-90 (≥90% Improvement from Baseline) Week 8 EASI-100 (Complete Clearance) PP-NRS ≥ 5 N=40 (80% of Stage 1completers)
Slide 9: Stage 2 Design – Prospective Stratification by EASI
Stage 2 Design – Prospective Stratification by EASI 9 2. Baseline EASI Stratified by baseline EASI score ▪ Separate strata(s) prevents imbalanced disease severity among GX-03 and Vehicle ▪ Stratified patient population represents full disease spectrum and EASI≥16 groups represent potential biologica
Slide 10: Stage 2 Design – Selected Endpoints
Stage 2 Design – Selected Endpoints 10 Endpoints and timepoints optimized from observed separation and effect in Stage 1 Selected Endpoints Family To be evaluated using Hochberg Method ▪ Week 4 – vIGA-AD Success (vIGA of 0/1 with ≥ 2 grade improvement) ▪ Week 4 – EASI-75 ▪ Week 8 – EASI-90 ▪ Week 8
Slide 11: Stage 2 Design – Summary
11 Stage 2 Design – Summary Design: • Double-blind • 1:1 Randomized w/ Prospective 1:1 Stratification • Vehicle Controlled • BID Topical • Week 4 and Week 8 Endpoints • IDMC Governed Adaptive Design 11 Stage 2 Optimized Design Selected Endpoints: • Week 4 – vIGA-AD of 0/1 with ≥ 2 grade improvement
Slide 12: Stage 2 Design - Representative Subgroup from Interim Analysis
12 Stage 2 Design - Representative Subgroup from Interim Analysis Baseline EASI ≥ 1.1 and Baseline PP-NRS ≥ 7 12 Endpoint GX-03 (n=13) Vehicle (n=12) Treatment Difference Week 4 vIGA-AD Success vIGA of 0/1 with ≥ 2 grade improvement 61.5% (8/13) 8.3% (1/12) Δ 53.2% Week 4 EASI-75 69.2% (9/13) 25.0%
Slide 13: Dr. Stephen Hahn, Clinical and Regulatory Lead
13 Dr. Stephen Hahn Clinical and Regulatory Lead
Slide 14: Atopic Dermatitis Prevalence
14 1. The National Eczema Association (NEA) 2. Largest by patient population, fastest based on projected market size (EvaluatePharma) 16.5M US adult patients suffer from AD 6.6M adult patients in moderate-severe category 1 High Unmet Needs ▪Safe therapies ▪Non-systemic therapies ▪Rapid Action ▪Needl
Slide 15: Stage 1 - Safety Summary
15 Stage 1 - 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 not be treatment related. GX-03 Vehicle N = 27 N = 23 Subjects with AE, n 1* 1** Severe (Grade ≥ 2) 0 0 Serious AEs 0 0 AEs leading
Slide 16: GX-03 - Clinical & Regulatory Timeline in AD
16 GX-03 - Clinical & Regulatory Timeline in AD 16 2026 2027 June 2026 Stage 1 Complete Q4 2026 Topline Results Expected N = 50 Adaptive design Q4 2026 Type-B Meeting Expected 1H 2027 Phase 3 Initiation* *Subject to successful completion of each phase and capital availability
Slide 17: GX-03 Market Opportunity
17 GX-03 Market Opportunity 1. Subject to successful completion of each phase and capital availability. Why GX-03 For Atopic Dermatitis 02 03 PDE4 / AhR Lower Studied Efficacy vs. Orals & Injectables Side effects risk Biologics Systemic burden Immunosuppression Extended loading period 01 Topical Ste
Slide 18: Thank You!
Investors@turntherapeutics.com 250 N. Westlake Blvd, #210 Westlake Village, CA 91362 Thank You!
Slide 19: Appendix
19 Appendix
Slide 20: Stage 1 Representative Subgroup from Interim Analysis
20 Stage 2 Representative Subgroup from Interim Analysis Baseline EASI ≥ 1.1 and Baseline PP-NRS ≥ 7 20 GX-03 Vehicle n=13 n=12 8.3% 61.5% Δ 53.2% Week 4 vIGA Success Week 8 EASI-90 Week 8 EASI-100 Week 4 EASI-75 GX-03 Vehicle n=13 n=12 25.0% 69.2% Δ 44.2% GX-03 Vehicle n=13 n=12 16.7% 53.8% Δ 37.1%
Slide 21: FDA Approved Topical AD Drugs: IGA Success
21 21 30.40% 32.10% 45.90% 52.60% 27.60% Zoryve Week 4 Eucrisa Week 4 Vtama Week 8 Opzelura Week 8 Anzupgo Week 8 FDA Approved Topical AD Drugs 25% 50% 75% IGA 0/1 with ≥ 2 Grade Improvement (%) SOURCE: Zoryve (roflumilast 0.15% cream QD; average of Phase 3 INTEGUMENT-1 & INTEGUMENT-2; vIGA-AD succe
Slide 22: FDA Approved Topical AD Drugs: EASI-75
22 22 42.60% 57.45% 62.00% Zoryve Week 4 Vtama Week 8 Opzelura Week 8 FDA Approved Topical AD Drugs 25% 50% 75% EASI-75 (% patients) SOURCE: Zoryve (roflumilast 0.15% cream QD; average of Phase 3 INTEGUMENT-1 & INTEGUMENT-2; EASI-75 at Week 4). Vtama (tapinarof 1% cream QD; average of Phase 3 ADORIN
Slide 23: FDA Approved and Clinical Stage Biologics in AD: IGA Success
23 23 46.00% 34.60% 37.00% 36.70% 19.00% Zumilokibart (mid-dose) Week 16 Dupixent Week 16 Ebglyss Week 16 Nemluvio Week 16 Adbry Week 16 FDA Approved and Clinical Stage Biologics in AD 25% 50% IGA 0/1 with ≥ 2 Grade Improvement (%) SOURCE: Zumilokibart (mid-dose from APEX Phase 2 Part B 16-weeks Res
Slide 24: Biologics in AD: EASI-75
24 24 65.90% 49.50% 53.00% 42.80% 29.10% Zumilokibart (mid-dose) Week 16 Dupixent Week 16 Ebglyss Week 16 Nemluvio Week 16 Adbry Week 16 25% 50% 75% EASI-75 (% patients) SOURCE: Zumilokibart (mid-dose from APEX Phase 2 Part B 16-weeks Results). DUPIXENT (average of Ph3 SOLO-1&2 and Ph2b; 300 mg Q2W
Slide 25: Biologics in AD: EASI-90
25 25 47.40% 31.80% 34.50% 25.80% 16.40% Zumilokibart (mid-dose) Week 16 Dupixent Week 16 Ebglyss Week 16 Nemluvio Week 16 Adbry Week 16 25% 50% EASI-90 (% patients) SOURCE: Zumilokibart (mid-dose from APEX Phase 2 Part B 16-weeks Results). DUPIXENT (average of Ph3 SOLO-1&2 and Ph2b; 300 mg Q2W regi
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