Turn Therapeutics Inc. filed its quarterly report on Form 10-Q with the SEC on August 12, 2026, covering the three- and six-month periods ended June 30, 2026.

Key Highlights

  • Net loss of $5,849,734 for the three months ended June 30, 2026, compared to a net loss of $1,240,415 for the same period in 2025, according to the filing.
  • Cash and cash equivalents rose to $10,288,510 at June 30, 2026, from $5,076,144 at December 31, 2025, as reported in the balance sheet.
  • Derivative liability instrument reached $6,109,030 at June 30, 2026, up from $3,028,401 at December 31, 2025.
  • Long-term debt, net of $6,062,994 appeared on the June 30, 2026 balance sheet, compared to zero at December 31, 2025.
  • Total stockholders' equity declined to $686,888 at June 30, 2026, from $4,686,723 at December 31, 2025.
  • 29,788,040 shares of common stock were outstanding as of August 12, 2026, the filing disclosed.

Turn Therapeutics' Financial Position and Operating Results for the Second Quarter of 2026

Turn Therapeutics Inc. (NASDAQ:TTRX), a Delaware-incorporated smaller reporting company and emerging growth company focused on therapeutics, reported a net loss of $5,849,734 for the three months ended June 30, 2026. According to the filing, total operating expenses for the same quarter were $1,628,060, consisting of $1,152,996 in general and administrative expenses and $475,064 in research and development expenses. For the six-month period ended June 30, 2026, total operating expenses were $2,842,823, with research and development spending rising to $584,498 compared to $71,937 for the six months ended June 30, 2025.

The filing reported that other expense for the three months ended June 30, 2026 totaled $4,221,674, driven in part by a net loss from change in fair value of derivative liability instrument of $3,341,568, amortization of deferred offering cost of $638,747, and net interest expense of $241,359. For the six months ended June 30, 2026, the net loss from change in fair value of derivative liability instrument was $2,644,007, and amortization of deferred offering cost was $1,116,394, as stated in the condensed consolidated statements of operations.

On the balance sheet, the company disclosed total assets of $16,960,719 and total liabilities of $16,273,831 at June 30, 2026. The accumulated deficit stood at $29,210,958 at June 30, 2026, compared to $22,390,093 at December 31, 2025. Basic and diluted net loss per common share for the second quarter of 2026 was $(0.20), based on weighted-average common shares outstanding of 29,788,040, according to the filing.

What Was Disclosed

Turn Therapeutics filed its Form 10-Q for the quarter ended June 30, 2026, reporting a net loss of $5,849,734 for the quarter, an accumulated deficit of $29,210,958, and long-term debt, net of $6,062,994, none of which appeared on the prior year-end balance sheet.