Form 8-K

8-K — Turn Therapeutics Inc.

Accession: 0001213900-26-054480

Filed: 2026-05-11

Period: 2026-05-11

CIK: 0002023016

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ea0289856-8k_turn.htm (Primary)

EX-99.1 — PRESS RELEASE, DATED MAY 11, 2026 (ea028985601ex99-1.htm)

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8-K — CURRENT REPORT

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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): May 11, 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 ☒

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.

May 11, 2026, Turn Therapeutics Inc. issued a press release (the “Press Release”) announcing its financial and operating

results for the quarter ended March 31, 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 May 11, 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: May 11, 2026

By:

/s/ Bradley

Burnam

Name:

Bradley Burnam

Title:

Chief Executive Officer

EX-99.1 — PRESS RELEASE, DATED MAY 11, 2026

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Exhibit 99.1

FOR IMMEDIATE RELEASE

Turn Therapeutics Reports First Quarter 2026

Financial Results and Provides Corporate Updates

Phase 2 Trial for GX-03 in Moderate-to-Severe

Atopic Dermatitis (AD) on Track, Topline Results Expected Mid-2026

Initial Tranche of $7 Million in Growth Capital

has been Funded by Avenue Capital Group

Westlake Village, CA — May 11, 2026 — Turn

Therapeutics Inc. (Nasdaq: TTRX), a clinical-stage biotechnology company developing targeted inflammatory and immunological therapies

for dermatologic conditions, today reported financial results for the three months ended March 31, 2026, and provided corporate updates.

“The first quarter of 2026 materially

strengthened Turn Therapeutics both operationally and financially,” said Bradley Burnam, Chief Executive Officer of Turn

Therapeutics. “With the Avenue Capital facility now in place, we believe the Company is well positioned to advance our

clinical programs through multiple near-term catalysts while maintaining focus on disciplined execution. Our Phase 2 trial

evaluating GX-03 in moderate-to-severe atopic dermatitis remains on schedule, with an independent committee expected to assess

conditional probability of success at the interim analysis and determine whether the study should continue as designed or expand

enrollment based on the strength of the observed trend. We continue to expect topline results in mid-2026 and believe these

upcoming milestones have the potential to meaningfully shape the future of both our platform and pipeline.”

Corporate Updates

● Avenue Capital growth capital secured.

On March 23, 2026, the Company closed a growth capital facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue

Capital Group, providing access to up to $25 million in term loans. The initial $7 million tranche was funded on March 24, 2026, with

up to an additional $18 million available upon achievement of clinical and corporate milestones.

● GX-03 in AD advancing. The Company’s

lead product candidate, GX-03, is being evaluated in an ongoing randomized, double-blind, vehicle-controlled Phase 2 clinical trial in

adults with moderate-to-severe AD. An interim assessment will be conducted at approximately 50% trial completion by an independent data

monitoring committee. Interim results are expected in the second quarter of 2026, with topline data expected to follow in mid-2026.

● Onychomycosis (nail fungus) program planned. GX-03 has demonstrated

nail-plate penetration and significant reduction of fungal burden in in-vivo studies, supporting its development as a topical treatment

for onychomycosis. Additional clinical steps are expected following completion of the AD program.

First

Quarter 2026 Financial Results

● Cash and Cash Equivalents: Cash and cash

equivalents as of March 31, 2026 were $11.2 million as compared to $5.08 million as of December 31, 2025.

● General and Administrative (G&A) Expenses:

General and administrative expenses for the three months ended March 31, 2026 were $1.1 million, an increase of $0.8 million compared

to $0.4 million for the three months ended March 31, 2025.

Financial Tables

Turn Therapeutics Inc.

Consolidated Statements of Operations

(in US Dollars)

Three Months Ended

March 31,

2026

2025

Operating expenses:

General and administrative

$ 1,136,709

$ 375,738

Research and development

109,434

9,259

Total operating expenses

1,246,143

384,997

Loss from operations

(1,246,143 )

(384,997 )

Other income:

Net gain from change in fair value of derivative liability instrument

697,561

—

Amortization of deferred offering cost

(477,647 )

—

Interest income

49,679

5,165

Other income

5,578

51,285

Total other income

275,171

56,450

NET LOSS

$ (970,972 )

$ (328,547 )

Basic and diluted net loss per common share

$ (0.03 )

$ (0.01 )

Weighted-average common shares outstanding, basic and diluted

29,476,002

26,956,217

Turn Therapeutics Inc.

Selected Balance Sheet Data

(in US Dollars)

March 31,

2026

December 31,

2025

Cash and cash equivalents

$ 11,217,671

$ 5,076,144

Total assets

18,644,136

12,162,241

Total liabilities

12,526,588

7,475,518

Total stockholders’ equity

6,117,548

4,686,723

About Turn Therapeutics

Turn Therapeutics is a biotechnology company

focused on developing innovative, precision therapies that target the underlying causes of inflammatory diseases with high unmet needs.

Turn’s lead investigational therapy, GX-03, is a potentially first-in-class, non-systemic topical inhibitor currently in late-stage

development for the potential treatment of moderate-to-severe atopic dermatitis (eczema). This therapy is designed to modulate key inflammatory

pathways involved in eczema and other inflammatory dermatological conditions.

Forward-Looking Statement

Certain statements in this press release may constitute

“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. 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’s 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 and the Company’s 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 the Company’s filings with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K for the year ended December 31, 2025,

filed with the SEC on March 31, 2026. All such forward-looking statements speak only as of the date they are made, and Turn 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@damounigroup.com

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