Form 8-K

8-K — Turn Therapeutics Inc.

Accession: 0001213900-26-088411

Filed: 2026-08-12

Period: 2026-08-12

CIK: 0002023016

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ea0301772-8k_turn.htm (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

August 12, 2026

TURN THERAPEUTICS INC.

(Exact name of registrant as specified in its charter)

Delaware

001-42875

32-0456090

(State or other jurisdiction of

incorporation)

(Commission File Number)

(IRS Employer

Identification Number)

250 N. Westlake Blvd., Westlake Village, California

91362

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including

area code: (818) 564-4011

N/A

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common Stock, par value $0.0001 per share

TTRX

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 12, 2026, Turn Therapeutics

Inc. issued a press release (the “Press Release”) announcing its financial and operating results for the quarter ended June

30, 2026. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 2.02

of this Current Report on Form 8-K and the Press Release furnished as Exhibit 99.1 hereto shall not be deemed “filed” for

purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the

liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended,

or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press Release, dated August 12, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

TURN THERAPEUTICS INC.

Date: August 12, 2026

By:

/s/ Bradley Burnam

Name:

Bradley Burnam

Title:

Chief Executive Officer

EX-99.1 — PRESS RELEASE, DATED AUGUST 12, 2026

EX-99.1

Filename: ea030177201ex99-1.htm · Sequence: 2

Exhibit 99.1

Turn Therapeutics Provides Corporate Updates

and Reports Second Quarter 2026 Financial Results

Interim Analysis Supports Expansion of GX-03

Phase 2 Study to a Broader Population of Atopic Dermatitis Patients, Including Patients with Moderate-to-Severe Lesions but Lower Overall

Disease Extent

Dr. Stephen M. Hahn, Former FDA Commissioner,

Appointed Executive Clinical and Regulatory Lead

First Peer-Reviewed Publication Shows GX-03

Significantly Reduced Skin Inflammation in Preclinical Study

Company Plans to Expand GX-03 Pipeline into

Hidradenitis Suppurativa, with First Patient Dosing Targeted for Q2 2027

Phase 2 Enrollment Expected to Complete in Fourth

Quarter of 2026; Company Expects Cash to Fund Operations into Third Quarter of 2027

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--August

12, 2026-- Turn Therapeutics Inc. (Nasdaq: TTRX), a clinical-stage biotechnology company developing targeted, non-systemic therapies

for inflammatory and infectious skin diseases, today provided corporate updates and reported financial results for the three and six months

ended June 30, 2026.

“The second quarter was one of the most

productive periods in Turn Therapeutics’ history. Our review of interim GX-03 Phase 2 data showed activity across a broader range

of atopic dermatitis patients than anticipated, including patients with moderate-to-severe lesions despite lower EASI, or Eczema Area

and Severity Index. This represents an important and underserved population that may need stronger treatment options but can be ineligible

for certain advanced therapies because their disease does not affect enough of the body. These findings allowed us to refine Stage 2 around

this broader population and the endpoints showing the most encouraging treatment separation. During the quarter, we also appointed Dr.

Stephen Hahn to strengthen our clinical and regulatory leadership, published our first peer-reviewed preclinical data demonstrating GX-03’s

anti-inflammatory activity, and advanced our FDA Type B meeting package. The Phase 2 study continued uninterrupted, and we remain on track

to complete enrollment by year-end,” said Bradley Burnam, Chief Executive Officer of Turn Therapeutics.

Company expands Phase 2 study after interim

data show activity in a broader and potentially underserved population of atopic dermatitis patients:

On July 7, 2026, Turn Therapeutics completed a

detailed review of interim results from its ongoing Phase 2 trial of GX-03 in atopic dermatitis, led by the study’s biostatistician,

Dr. Bruce Stouch, and Dr. Stephen Hahn. The analysis showed encouraging treatment separation across a broader range of patients than originally

anticipated, including patients with lower Eczema Area and Severity Index (EASI) scores. EASI measures both the intensity of eczema and

how much of the body it affects, meaning patients can have moderate-to-severe lesions but still have a relatively low EASI score when

their disease affects a smaller portion of the body. These patients can fall into an important treatment gap, with clinically significant

disease but insufficient overall body involvement to qualify for certain advanced therapies. When the final Stage 2 enrollment criteria

were applied to patients from the completed interim analysis, GX-03 demonstrated treatment separation from vehicle across all four efficacy

endpoints selected for Stage 2: 61.5% versus 8.3% achieved clear or almost clear skin at Week 4; 69.2% versus 25.0% achieved at least

a 75% improvement in EASI at Week 4; 53.8% versus 16.7% achieved at least a 90% improvement in EASI at Week 8; and 46.2% versus 8.3% achieved

complete EASI clearance (EASI-100) at Week 8.

Based on these findings, Turn expanded Stage 2

to enroll approximately 120 to 135 patients across a broader range of overall disease extent while continuing to require moderate-to-severe

lesion severity, defined as an IGA score of at least 3. The study will evaluate four efficacy endpoints using a single pre-specified statistical

analysis, and based on the treatment differences observed in the interim analysis, the planned Stage 2 sample size provides at

least 99.8% statistical power across the four selected endpoints. The study continued without interruption during the interim

review, and the Company remains on track to complete enrollment by the end of 2026. Stage 1 also showed a favorable safety profile, with

no serious adverse events and no adverse events leading to study drug discontinuation.

Company appoints former FDA Commissioner to

lead clinical and regulatory strategy:

On May 18, 2026, Turn Therapeutics appointed Stephen

M. Hahn, M.D., as Executive Clinical and Regulatory Lead. Dr. Hahn served as the 24th Commissioner of the U.S. Food and Drug Administration

from 2019 to 2021 and previously held senior leadership roles at MD Anderson Cancer Center. In his role at Turn Therapeutics, Dr. Hahn

is helping guide clinical development and regulatory strategy for GX-03 and the Company’s broader therapeutic pipeline.

First peer-reviewed scientific publication

shows GX-03 reduced inflammation in a preclinical skin model:

On May 27, 2026, Turn Therapeutics announced the

publication of a peer-reviewed article in the Journal of Dermatological Treatment reporting results from a preclinical

study of GX-03. In the study, GX-03 was evaluated in an established animal model of skin inflammation designed to study an inflammatory

pathway known as IL-36, which the Company believes may play an important role in GX-03’s activity. Animals treated with GX-03 twice

daily for seven days had substantially clearer skin, on average, than untreated animals, a difference that was statistically significant.

No treatment-related adverse effects were observed. The publication is the first of several planned scientific publications examining

GX-03. A follow-up manuscript providing additional data on GX-03’s potential mechanism of action is currently in peer review.

Company plans to expand GX-03 development into

Hidradenitis Suppurativa (HS):

Turn Therapeutics is planning a Phase 2a study

of GX-03 in hidradenitis suppurativa, or HS, a chronic inflammatory skin disease that can cause painful lumps, abscesses, and tunnels

beneath the skin. The Company’s research suggests GX-03 targets IL-36, an inflammatory pathway believed to play an important role

in both HS and atopic dermatitis, providing a strong scientific rationale for evaluating GX-03 in the disease. HS can also involve microbial

imbalance and bacterial burden within affected skin, an additional aspect of the disease that may be relevant given GX-03’s previously

demonstrated antimicrobial activity. The Company believes GX-03’s potential to address inflammation while also acting on microbial

burden through a single, non-systemic topical therapy may offer a differentiated approach to treating HS. The planned study is expected

to enroll approximately 60 patients, with approximately half receiving GX-03 and half receiving vehicle, and will evaluate multiple established

measures of HS improvement and patient-reported skin pain at various timepoints. The Company is targeting first patient enrollment in

the second quarter of 2027.

Second Quarter 2026 Financial Results

The following highlights summarize the Company’s

cash position and spending for the second quarter of 2026:

● Cash and Cash Equivalents: The Company had $10.3 million

in cash and cash equivalents as of June 30, 2026. Based on Company’s estimate, the cash and cash equivalents on hand as of June

30, 2026 provide operational runway, including the ongoing Phase 2 trial in AD, into the third quarter of 2027.

● General and Administrative (G&A) Expenses: General

and administrative expenses for the three months ended June 30, 2026 were $1.2 million, a decrease of $0.1 million compared to $1.3 million

for the three months ended June 30, 2025.

● Research and Development (R&D): R&D expenses

were $0.5 million for the three months ended June 30, 2026, an increase of $0.4 million compared to $0.1 million for the same period

in 2025, reflecting increased trial activity as patient enrollment in the Phase 2 study progressed.

Financial Tables

Turn Therapeutics Inc.

Consolidated Statements of Operations

(Unaudited, in US Dollars)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Operating expenses:

General and administrative

$ 1,152,996

$ 1,303,846

$ 2,258,325

$ 1,679,591

Research and development

475,064

62,678

584,498

71,937

Total operating expenses

1,628,060

1,366,524

2,842,823

1,751,528

Loss from operations

(1,628,060 )

(1,366,524 )

(2,842,823 )

(1,751,528 )

Other income (expense):

Net loss from change in fair value of derivative liability instrument

(3,341,568 )

(2,644,007 )

Amortization of deferred offering cost

(638,747 )

(1,116,394 )

Interest income (expense), net

(241,359 )

5,134

(223,219 )

10,296

Other income

120,975

5,578

172,260

Total other income (expense)

(4,221,674 )

126,109

(3,978,042 )

182,556

NET LOSS

$ (5,849,734 )

$ (1,240,415 )

$ (6,820,865 )

$ (1,568,972 )

Basic and diluted net loss per common share

$ (0.20 )

$ (0.05 )

$ (0.23 )

$ (0.06 )

Weighted-average common shares outstanding, basic and diluted

29,788,040

27,494,483

29,633,755

27,227,013

Turn Therapeutics Inc.

Selected Balance Sheet Data

(in US Dollars)

June 30,

December 31,

2026

2025

(Unaudited)

Cash and cash equivalents

$ 10,288,510

$ 5,076,144

Total assets

16,960,719

12,162,241

Total liabilities

16,273,831

7,475,518

Total stockholders’ equity

686,888

4,686,723

About Turn Therapeutics

Turn Therapeutics is a clinical-stage biotechnology

company focused on developing targeted, localized therapies for inflammatory and infectious skin diseases. GX-03 is Turn Therapeutics’

lead investigational topical candidate being developed as a targeted, non-systemic treatment for atopic dermatitis, designed to deliver

biologic-level efficacy without the trade-offs of injectable administration or systemic immunosuppression.

Forward-Looking Statements

This press release contains forward-looking statements

within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact,

contained in this press release are forward-looking statements, including statements regarding clinical development plans, optimization

of enrollment criteria and endpoints, interpretation of interim clinical observations, expected trial timing, regulatory interactions,

anticipated financial results, and the therapeutic potential of GX-03. Forward-looking statements contained in this press release may

be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,”

“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”

“potential,” “predict,” “project,” “suggest,” “target,” “aim,”

“should,” “will,” “would,” or the negative of these words or other similar expressions, although not

all forward-looking statements contain these words. Forward-looking statements are based on Turn Therapeutics’ current expectations

and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict, including risks related to the success

of development programs, the availability of additional financing, and Turn Therapeutics’ ability to execute its strategic plan.

Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further

discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements,

as well as risks relating to the business of Turn Therapeutics in general, see the risk disclosures in its filings with the SEC. All such

forward-looking statements speak only as of the date they are made, and Turn Therapeutics undertakes no obligation to update or revise

these statements, whether as a result of new information, future events, or otherwise.

Investor Relations/ Media Contact:

Sasha Damouni

Damouni Group LLC

sasha@turntherapeutics.com

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