Pelthos Therapeutics Reports Second Quarter 2025 Financial Results for Legacy Operations and Provides Business Update
Files Quarterly Report on Form 10-Q detailing financial results for legacy operations for the three and six months ended June 30, 2025
Strong physician response following successful launch of ZELSUVMI™ (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home treatment for molluscum contagiosum for patients one year of age and older
Completes build-out of essential management operational infrastructure and hires 50 territory sales managers
DURHAM, N.C., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Pelthos Therapeutics Inc. (NYSE:PTHS), a biopharmaceutical company ("Pelthos" or the "Company") committed to commercializing innovative therapeutic products for high unmet patient needs, today reported financial results for legacy operations for the three and six months ended June 30, 2025. This will be the last set of financial results that the Company will issue solely related to the business operations of Channel Therapeutics Corporation prior to the consummation of the merger (the "Merger") and the concurrent private placement financing that closed on July 1, 2025.
Recent Company Highlights
Completed the Merger with Channel Therapeutics and closed the $50.1 million private placement financing
As previously announced, on July 1, 2025, Pelthos completed its Merger with and into a wholly owned subsidiary of Channel Therapeutics Corporation and closed a $50.1 million private placement to support the commercial launch of ZELSUVMI™. The combined company now operates under the name Pelthos Therapeutics Inc.
The private placement was led by a group of strategic investors including Murchinson Ltd. Subject to certain exceptions, the shares of the Company's common stock, par value $0.0001 per share underlying the shares of Series A Convertible Preferred Stock, par value $0.0001 per share (the "Series A Preferred Stock"), issued in the private placement financing are locked up through December 31, 2025. The Company's freely tradable public float is currently approximately 600,000 shares of Common Stock. Based on the current common stock outstanding, Pelthos has an estimated market capitalization of approximately $55 million. However, the Company's implied estimated market capitalization would be approximately $165 million based on the conversion of all shares of Series A Preferred Stock issued in connection with the Merger and the private placement financing.
Launched ZELSUVMI (berdazimer) topical gel 10.3%, for molluscum contagiosum
On July 10, 2025, Pelthos launched ZELSUVMI, the first and only prescription therapy approved by the U.S. Food and Drug Administration ("FDA") for use at home by patients, parents, and caregivers to treat molluscum infections, a highly contagious viral skin condition. ZELSUVMI is a novel, topical nitric oxide-releasing gel for the treatment of molluscum at the time of diagnosis. The once-daily prescription medication is effective, well tolerated, and convenient for at-home or on-the-go application and can be used to treat infections on the body, including sensitive areas such as the face, groin, or underarms. This highly contagious viral skin condition afflicts an estimated 16.7 million people, with up to 6 million new incidents every year in the United States, most of them children.i,ii
Completed build-out of management and operational infrastructure and hired 50 territory sales managers
Pelthos completed the buildout of its management, operational and sales teams in July. This follows the promotion of Sai ...
