Turn Therapeutics Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
TTRX$9.92+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | |||
|---|---|---|---|
| 2026 · 2025 | |||
| Cash flows from operating activities: | |||
| Net loss | $(13,051,733) | $(3,473,150) | |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Amortization expense | 43,663 | 38,591 | |
| Stock-based compensation expense | 1,413,268 | 162,865 | |
| Common stock issued in exchange for services | - | 250,000 | |
| Non-cash operating lease effect | (133) | 1,165 | |
| Net loss from change in fair value of derivative liability instrument | 5,987,498 | - | |
| Amortization of deferred offering and financing costs | 1,756,520 | - | |
| Amortization of debt discount | 248,550 | - | |
| Changes in operating assets and liabilities: | |||
| Prepaids and other current assets | 7,977 | 36,742 | |
| Accounts payable and accrued expenses | (511,184) | 1,597,153 | |
| Net cash used in operating activities | (4,105,574) | (1,386,634) | |
| Cash flows from investing activities: | |||
| Purchases of intangible assets | (34,165) | (121,545) | |
| Net cash used in investing activities | (34,165) | (121,545) | |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock, net of issuance costs | 1,641,010 | 3,147,119 | |
| Cash receipt from stock subscription receivable | 1,070,000 | 594,617 | |
| Proceeds from Avenue Capital Loan Agreement | 6,716,560 | - | |
| Net cash provided by financing activities | 9,427,570 | 3,741,736 | |
| Net increase in cash and cash equivalents | 5,287,831 | 2,233,557 | |
| Cash and cash equivalents at beginning of the period | 5,076,144 | 872,599 | |
| Cash and cash equivalents at end of the period | $10,363,975 | $3,106,156 | |
| Supplemental cash flow data: | |||
| Cash paid for interest on term loan | $364,437 | $ | - |
| Supplemental disclosure of non-cash activities | |||
| Issuance of common stock under Avenue Capital Loan Agreement of which $560,516 was recorded as deferred financing cost asset relating to Tranche 2 | $1,050,967 | $ | - |
| Derivative liability recognized for conversion option under the Avenue Capital Loan Agreement | $436,622 | $ | - |
| Final payment fee recognized at present value under the Avenue Capital Loan Agreement | $174,571 | $ | - |
| Issuance of common stock upon cashless exercise of warrant under Share Purchase Agreement and extinguishment of related derivative liability | $8,881,942 | $ | - |
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