Shares of Turn Therapeutics surged over 370% in early premarket trade on Thursday, extending gains from the after-hours session on the Nasdaq Capital Market after the California-based biotech made its public listing on Wednesday. 

The U.S. Securities and Exchange Commission had declared Turn's registration statement effective on Sept. 30, clearing the way for the IPO.

Turn Therapeutics' stock surged 134% to $9.40 in extended trading on Wednesday, placing it among the top after-hours gainers on the day.

Founder and CEO Bradley Burnham said during the Nasdaq closing bell ceremony that the company was“built on a shoestring, with an absolute disdain for waste,” highlighting its lean approach to research and operations. 

Turn Therapeutics develops and commercializes next-generation products for dermatology, wound care, and infectious diseases, with three FDA-cleared medical devices and late-stage clinical programs in eczema and onychomycosis. 

Its proprietary formula targets inflammatory cytokines such as IL-36a, IL-36y, IL-4, and IL-31, and has been confirmed as non-cytotoxic and non-sensitizing. 

The company also develops formulations that are 99.9% effective against Methicillin-Resistant Staphylococcus aureus, a type of bacteria that's resistant to many commonly used antibiotics, and qualify for the FDA's Qualified Infectious Disease Product (QIDP) program.

Turn has also developed its Permafusion platform, which allows pharmaceutical ingredients to penetrate deeper skin and tissue layers without emulsifiers, improving bioavailability and minimizing side effects. 

Beyond dermatology and wound care, Turn is developing thermostable vaccine delivery technology to expand access to essential medicines in underserved global markets.

The company's financial advisor for the listing was Clear Street LLC, with legal counsel provided by Davis Polk & Wardwell LLP. 

On Stocktwits, retail sentiment was 'neutral' amid 'extremely low' message volume.

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