Phase II Study Evaluating the Clinical Efficacy and Safety of GN-037 in Plaque Psoriasis

Inclusion Criteria:

1. Male and female patients between the ages of 18-65

2. Patients who can give their written informed consent prior to initiating anyevaluation or procedure related to the study.

3. Patients with negative SARS-CoV-2 PCR test result

4. Patients who were diagnosed with mild or moderate plaque psoriasis at least 6 monthsago by a dermatologist and whose diagnosis was confirmed according to the clinicaljudgment of the research physician at the time of enrolment.

5. Patients with a Investigator Global Assessment (IGA) score of 2 or 3 at thescreening visit [Face, scalp, palms, soles, armpits, and intertriginous areas willbe excluded from this assessment]

6. Patients with plaque psoriasis lesions covering a body surface area (BSA) of atleast 3% to 12% [Face, scalp, palms, soles, axillae, and intertriginous areas willbe excluded from this assessment.]

7. Patients who received the last psoriasis treatment 4 weeks or before

8. Patients who are confirmed to be healthy by medical history and physical examinationand who do not have any clinically significant disease/condition other than plaquepsoriasis that, at the discretion of the investigator, could affect the studyevaluation.

9. Patients who can protect the lesion areas from ultraviolet (UV) rays (natural orartificial) during the study

10. Female patients: Patients who had a negative pregnancy test at the screening visit,did not breastfeed, did not plan pregnancy during the study, and agreed to use aneffective method of contraception until the end of the study. Male patients: Patients who agreed to use an effective method of contraception forthe duration of the study.

11. Patients who can comply with all scheduled visits, laboratory tests, and other studyprocedures

12. Patients with normal adrenocorticotropic hormone (ACTH) stimulation test

13. Patients with normal dihydroepiandrostenedione sulfate (DHEAS) levels

Exclusion Criteria:

1. Patients with a known sensitivity/hypersensitivity to any component of the drugs tobe used in the study

2. Pregnant or lactating or female patients with a positive pregnancy test

3. Patients who are resistant/unresponsive to corticosteroids

4. Patients with psoriasis (eg guttate, erythrodermic, exfoliative or pustular) that,in the opinion of the investigating physician, resolves spontaneously or rapidlyworsens

5. Patients with other inflammatory skin disease (eg, atopic dermatitis, contactdermatitis, eczema, tinea corporis) that, in the opinion of the investigativephysician, may affect study evaluations at the targeted treatment sites

6. Patients who received phototherapy, photochemotherapy, systemic or local treatmentfor psoriasis or used systemic anti-inflammatory agents in the last 4 weeks

7. Patients who received biologic therapy for psoriasis in the last 3 months

8. Immunosuppressive or immunocompromised patients (patients who have takenimmunosuppressive drugs in the last 2 months will also be excluded)

9. Patients who have received any cancer treatment in the last 1 year

10. Patients with severe hypertension (systolic blood pressure [SBP] > 160 mmHg ordiastolic blood pressure [DBP] > 100 mmHg)

11. Patients who cannot comply with the study procedures/rules and cannot be in harmonywith the research team

12. Patients who have participated in another clinical trial in the last 2 months or whoare taking part in another clinical trial concurrently

13. Patients with a known abnormality of the hypothalamus-pituitary-adrenal axis (HPAaxis)

14. Patients using products containing dihydroepiandrostenedione (DHEA) ordihydroepiandrostenedione sulfate (DHEAS) in the last 1 month