All trading involves risk. Contracts for Difference (CFDs) are complex instruments and may not be suitable for all investors. Please refer to Risk Disclosure and Risk Fact Sheet on Capital.com/en-sg.
Open platformOpen platform

Turn Therapeutics Q3 net loss widens on higher R&D, non-operating charges

By Reuters News


Overview

  • US dermatology biotech's Q3 net loss widened yr/yr on higher R&D and non-operating charges

  • Company advanced GX-03 trials in atopic dermatitis and accelerated hidradenitis suppurativa study start

  • Cash and equivalents rose to $10.4 mln, with runway expected into Q3 2027


Outlook

  • Company expects cash to fund operations into Q3 2027

  • Turn Therapeutics expects topline results from Phase 2b atopic dermatitis trial in Q1 2027

  • Enrollment for Phase 2a hidradenitis suppurativa trial now expected to begin in Q1 2027


Result Drivers

  • R&D SPENDING - Co said increased research and development expenses reflected continued spend on Phase 2b atopic dermatitis trial

  • NON-OPERATING CHARGES - Net loss included higher non-operating expenses, such as change in fair value of derivative liability and amortization of deferred offering and financing costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.21


Reuters Recommended Reads

  • Nov 6 - CG Oncology Q3 net loss widens on higher R&D costs

  • Nov 6 - Aligos Therapeutics Q3 net loss narrows on lower R&D costs

  • Nov 7 - J&J's once-daily pill eases psoriatic arthritis symptoms in late-stage trial


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.