Turn Therapeutics Inc (TTRX) AI Stock Analysis

• Market Cap: $110.42M
• Dividend Yield: N/A
• Average Volume (3M): 2.86M
• Price to Earnings (P/E): ―
• Beta (1Y): -1.03
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 2
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 29,445,183
• 10 Day Avg. Volume: 2,856,380
• 30 Day Avg. Volume: 2,856,380
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: >-0.01
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $6.77
• Price Target Upside: 146.96% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $5.00 ▲(82.48% Upside)

Overall score is held down primarily by weak financial performance (no revenue, ongoing cash burn, and negative equity indicating financing risk). Technicals are a notable offset with bullish momentum (price above key moving averages and positive MACD). Valuation remains a headwind due to negative earnings and no dividend support.

Positive Factors

Clinical-stage progression (GX-03 Phase 2)

On-schedule Phase 2 progress and planned interim/topline readouts provide a clear technical de-risking pathway for the lead dermatology asset. Successful data would materially advance clinical validation, partnerability, and future revenue potential, making development-readiness a durable fundamental asset.

Strategic Medline partnership and commercial channel

A multi-year supply and license agreement with a major distributor meaningfully strengthens commercial execution capability and market access. Partnering to scale manufacturing and distribution reduces execution risk and supports durable market expansion and earlier revenue pathways once approvals or sales begin.

Board upgrade with experienced healthcare executive

Adding a seasoned life-sciences and M&A executive improves governance and strategic capital allocation credibility. Strong board expertise enhances merger, partnership and financing execution over time, increasing the odds of disciplined deal-making and value-accretive strategic choices.

Negative Factors

No reported revenue

Absent any product revenue, the business remains fully dependent on external financing or partnerships. This structural lack of top-line cash generation means long-term value hinges entirely on clinical and partnership success, increasing execution risk and time-to-commercialization dependency.

Ongoing cash burn and negative free cash flow

Sustained operating cash outflows without revenue create recurring financing needs and potential dilution. Continued burn pressures R&D cadence and commercialization pacing; management must secure durable funding or revenue to avoid disruption of clinical programs and strategic initiatives.

Negative shareholders' equity

Negative equity signals accumulated losses and weak capitalization, constraining borrowing capacity and heightening reliance on dilutive financing. Over the medium term this increases governance scrutiny and reduces optionality for capital-intensive activities like late‑stage trials or manufacturing scale-up.

Turn Therapeutics Inc Business Overview & Revenue Model

Company Description

Global Health Solutions, Inc., doing business as Turn Therapeutics, operates as a pharmaceuticals company that develops drugs to treat diseases of the skin, nails, and eye. The company's delivery technology penetrates the skin and nails and reduces antibiotic resistance through acute and chronic wound care products, enabling healthcare institutions to care for a variety of skin conditions, ranging from acute to chronic wounds, skin conditions, and dermatoses. Global Health Solutions, Inc. was incorporated in 2015 and is based in Westlake Village, California.

How the Company Makes Money

Turn Therapeutics Inc Financial Statement Overview

Summary

Financial profile is weak: no revenue in 2023–2024, ongoing net losses (though narrowing in 2024), and continued operating cash burn with negative free cash flow. Balance sheet risk is elevated because shareholders’ equity turned negative in 2024, implying higher funding/dilution risk despite low absolute debt.

Income Statement

The company reports no revenue in both 2023 and 2024, so profitability is entirely driven by operating spend. Losses improved in 2024 (net loss of about $1.8M vs. about $2.3M in 2023), indicating some cost tightening, but the business is still meaningfully unprofitable with negative operating earnings and no visible top-line traction in the provided periods.

Balance Sheet

Total debt remains low in absolute dollars, but the balance sheet weakened materially as shareholders’ equity flipped from positive in 2023 to negative in 2024, which reduces financial flexibility and increases funding risk. Total assets are roughly stable around $2.0M, but the negative equity makes leverage indicators less reliable and highlights dependence on external capital to sustain operations.

Cash Flow

Cash burn remains significant with operating cash flow around -$1.36M in 2024 (similar to 2023), and free cash flow also deeply negative. Free cash flow deteriorated modestly year over year, but cash outflows are slightly better than accounting losses (cash burn modestly lower than net loss), suggesting some non-cash expenses; still, the ongoing burn without revenue underscores near-term financing needs.

Breakdown	Dec 2024	Dec 2023
Income Statement
Total Revenue	0.00	0.00
Gross Profit	0.00	0.00
EBITDA	-1.75M	-2.26M
Net Income	-1.77M	-2.29M
Balance Sheet
Total Assets	2.05M	2.01M
Cash, Cash Equivalents and Short-Term Investments	872.60K	1.18M
Total Debt	121.04K	25.16K
Total Liabilities	2.23M	1.93M
Stockholders Equity	-177.43K	85.77K
Cash Flow
Free Cash Flow	-1.46M	-1.42M
Operating Cash Flow	-1.36M	-1.38M
Investing Cash Flow	-99.47K	-44.31K
Financing Cash Flow	1.15M	500.00K

Turn Therapeutics Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TTRX	51 Neutral	$110.42M	-27.95	―	―	―	―
SCNI	49 Neutral	$777.93K	-0.07	―	―	178.82%	-4121.10%
DRMA	47 Neutral	$6.85M	-0.09	-203.36%	―	―	90.53%
AZTR	45 Neutral	$2.47M	-0.04	-215.04%	―	-100.00%	93.82%
PULM	43 Neutral	$9.38M	-1.46	-79.47%	―	-99.97%	35.59%
AIM	40 Underperform	$3.46M	-0.06	―	―	-41.05%	57.35%

Turn Therapeutics Inc Corporate Events

Turn Therapeutics Issues Corporate, Pipeline and Financial Updates

On January 12, 2026, Turn Therapeutics issued a series of corporate, pipeline, and financial updates ahead of its participation in the J.P. Morgan Healthcare Conference, highlighting steady clinical progress and a stronger governance and capital structure. The company reported that its Phase 2 randomized controlled trial of lead asset GX-03 in moderate-to-severe atopic dermatitis remained on schedule, with both interim and topline data expected in the first half of 2026, while enrollment continued in line with statistical plans. Governance was bolstered by the appointment of seasoned life sciences and M&A executive Martin Dewhurst to the board, and the company engaged Damouni Group to refine corporate strategy, capital markets positioning, and investor communications, with an emphasis on GX-03 as a late-stage clinical asset. Turn also expanded its vaccine pipeline by adding a proprietary intranasal influenza candidate designed to deliver a thermostable, oil-based formulation targeting epithelial receptors to stimulate systemic immunity without adjuvants, with in vivo and in vitro studies planned to begin in the first quarter of 2026, broadening its addressable market beyond dermatology and wound care. On the commercial front, management flagged progress in its strategic wound care partnership with Medline, which is expected to start generating revenue in 2026 and enhance the company’s presence in advanced wound care channels. Financially, Turn utilized an existing share purchase agreement to reinforce its balance sheet and, together with existing cash reserves, extended its operating runway into late 2026, supporting continued execution of clinical, commercial, and strategic initiatives during what management characterized as a pivotal year for the company.

The most recent analyst rating on (TTRX) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Turn Therapeutics Inc stock, see the TTRX Stock Forecast page.

Turn Therapeutics appoints veteran executive to board

On January 7, 2026, Turn Therapeutics Inc. expanded its board from five to six members and appointed veteran healthcare executive Martin Dewhurst as an independent Class III director and chair of the compensation committee, with his term running until the 2028 annual shareholders’ meeting. Dewhurst, who received an initial $100,000 restricted stock unit grant under the company’s 2025 Omnibus Incentive Plan, brings more than three decades of global life sciences and M&A experience from senior roles at McKinsey & Company and ongoing advisory and board positions across healthcare and investment firms, a profile that aligns with Turn Therapeutics’ disciplined, M&A-focused growth strategy and is expected to strengthen its capital allocation, pipeline expansion and partnership efforts; the company simultaneously released a press announcement and updated investor presentation on the same date.

The most recent analyst rating on (TTRX) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Turn Therapeutics Inc stock, see the TTRX Stock Forecast page.

Turn Therapeutics’ GX-03 Recognized for Dermatology Innovation

On November 11, 2025, Turn Therapeutics announced that its GX-03 technology was recognized by Patient Care Online Magazine as one of the ‘Five Novel Mechanisms Reshaping Atopic Dermatitis Treatment.’ This recognition highlights the company’s innovative approach in dermatology, particularly with its topical IL36/IL31 inhibitor, which targets key inflammatory pathways in eczema and psoriasis. The announcement underscores Turn Therapeutics’ commitment to advancing its proprietary therapeutics pipeline, with plans to release topline data from its severe eczema program in early 2026.

Turn Therapeutics Appoints New VP of Communications

On November 4, 2025, Turn Therapeutics announced the appointment of Andrew Scott as Vice President of Corporate Communications. This strategic hire comes as the company, following its public listing, aims to enhance investor relations and expand its market presence, with Scott’s extensive experience expected to guide the company through upcoming milestones, including the completion of its Phase 2 clinical program.

Turn Therapeutics Partners with Medline for Global Expansion

On October 30, 2025, Turn Therapeutics announced a global supply, development, and license agreement with Medline, a leading medical-surgical product manufacturer and distributor. This collaboration aims to leverage Turn’s PermaFusion® delivery platform with Medline’s global distribution capabilities to enhance product opportunities in professional and retail markets. The partnership is seen as a transformative milestone for Turn, enabling the company to focus on innovation while utilizing Medline’s infrastructure to deliver advanced solutions worldwide. Financial terms and development timelines remain confidential, with further updates expected as joint initiatives progress.

Turn Therapeutics Partners with Medline for Global Expansion

On October 27, 2025, Turn Therapeutics, Inc. entered into a Global Supply, Development, and License Agreement with Medline Industries, LP. This collaboration aims to develop, manufacture, and commercialize health products leveraging Turn’s PermaFusion® platform, with Medline handling global distribution across over 100 countries. The agreement outlines a multi-year framework for co-development and manufacturing scale-up, with an initial term of three years and automatic renewals, potentially enhancing Turn’s market reach and operational capabilities.