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Pelthos Therapeutics Inc.
PTHSCIK 0001919246NYSEEmerging GrowthBiological Products, (No Diagnostic Substances)NevadaFY ends Dec 31
Period
FY 2025
Revenue
$16.80M
Net Income
$-43.32M
Total Assets
$130.40M
Equity
$38.88M
Shares Out
3.36M
Op. Cash Flow
$-22.59M
Business
Pelthos Therapeutics Inc. is a clinical‑stage biotechnology company developing and commercializing non‑opioid therapeutics to alleviate pain by selectively targeting the NaV1.7 sodium ion channel. Its main product candidates are CC8464‑based programs, including CT2000 (topical ophthalmic for acute and chronic eye pain), CT3000 (depot nerve‑block formulations for post‑operative pain), CC8464 for neuropathic indications, and licensed sublingual/intranasal spray formulations (diclofenac, rizatriptan, ondansetron). The company organizes around research and clinical development, intellectual property/licensing and CMO‑based manufacturing. It conducts clinical work in the United States, Australia and other jurisdictions and plans development and distribution through CROs, CMOs and global commercialization rights.
Summary from filing dated 2025-03-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Total revenue | 17 | 0 | — | — | |
| Cost of goods sold | 4 | 0 | — | — | |
| Selling, general and administrative | 42 | 6 | — | — | |
| Research and development | 1 | 1 | 3 | 391,730 | |
| Amortization of intangible assets | 2 | 0 | — | — | |
| Total operating expenses | 49 | 8 | — | — | |
| Operating loss | −32 | −8 | −7 | −2 | |
| Interest expense | −3 | −786,000 | — | — | |
| Impairment of intangible assets | −285,000 | 0 | — | — | |
| Change in fair value of convertible debt | −15 | 0 | — | — | |
| Interest income and other income | 5,000 | 402,000 | — | — | |
| Total other (expense) income | −18 | −384,000 | −518,509 | −140,430 | |
| Net loss before provision for income taxes | −51 | −8 | — | — | |
| Provision for income taxes | −7 | 0 | — | — | |
| Net loss | −43 | −8 | −7 | −2 | |
| Comprehensive loss | −43 | −8 | — | — | |
| Net loss per common share, basic (in dollars per share) | −23.04 | −14.27 | −5.78 | 5.65 | |
| Net loss per common share, diluted (in dollars per share) | −23.04 | −14.27 | −5.78 | — | |
| Weighted average number of common shares outstanding, basic (in shares) | 2 | 557,447 | 1 | 435,312 | |
| Weighted average number of common shares outstanding, diluted (in shares) | 2 | 557,447 | 1 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 18 | 513,000 | — | — | — | |
| Restricted cash, current | 50,000 | 0 | — | — | — | |
| Accounts receivable, net | 9 | 0 | — | — | — | |
| Inventory, net | 24 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 3 | 856,000 | — | — | — | |
| Total current assets | 53 | 1 | 96,391 | 55,074 | — | |
| Property and equipment, net | 10 | 0 | — | — | — | |
| Operating lease right-of-use assets, net | 3 | 0 | — | — | — | |
| Intangible assets, net | 39 | 0 | — | — | — | |
| Goodwill | 25 | 0 | — | — | — | |
| Total assets | 130 | 1 | 96,391 | 55,074 | — | |
| Accounts payable | 3 | 2 | — | — | — | |
| Accrued expenses | 15 | 0 | 645,947 | 221,875 | — | |
| Contingent consideration | 2 | 0 | — | — | — | |
| Operating lease liabilities, current portion | 635,000 | 0 | — | — | — | |
| Deferred revenue, current portion | 966,000 | 0 | — | — | — | |
| Other liabilities | 4 | 0 | — | — | — | |
| Total current liabilities | 26 | 4 | 7 | 4 | — | |
| Operating lease liabilities, net of current portion | 3 | 0 | — | — | — | |
| Deferred revenue, net of current portion | 1 | 0 | — | — | — | |
| Convertible debt | 31 | 0 | — | — | — | |
| Other long-term liabilities | 30 | 0 | — | — | — | |
| Total liabilities | 92 | 4 | 7 | 4 | — | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Common stock, value | 0 | 0 | 391 | 111 | — | |
| Additional paid in capital | 104 | 19 | 7 | 2 | — | |
| Accumulated deficit | −65 | −21 | −14 | −6 | — | |
| Total stockholders' equity (deficit) | 39 | −3 | −6 | −4 | −4 | |
| Total liabilities and stockholders' equity (deficit) | 130 | 1 | 96,391 | 55,074 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Accretion of interest for royalty obligations | 2 | 0 | — | — | |
| Depreciation of property and equipment | 729,000 | 0 | — | — | |
| Amortization of debt discount | 259,000 | 692,000 | 188,119 | 140,430 | |
| Lease amortization expense | 74,000 | 0 | — | — | |
| Stock-based compensation | 5 | 2 | 2 | 110,146 | |
| Inventory write-off | 1 | 0 | — | — | |
| Gain on default judgment | 0 | −363,000 | — | — | |
| Accounts receivable | −9 | 0 | — | — | |
| Inventory | 2 | 0 | — | — | |
| Prepaid expenses | −880,000 | −861,000 | — | — | |
| Operating lease right-of-use assets | 345,000 | 0 | — | — | |
| Accounts payable | 1 | 1 | — | — | |
| Accrued expenses | 6 | −283,000 | 424,072 | 221,875 | |
| Contingent consideration | 2 | 0 | — | — | |
| Operating lease liabilities | −282,000 | 0 | — | — | |
| Deferred revenue | −589,000 | 0 | — | — | |
| Deferred income tax | −7 | 0 | — | — | |
| Other assets and liabilities | 35,000 | 0 | — | — | |
| Net cash used in operating activities | −23 | −6 | −981,031 | −2 | |
| Purchases of property and equipment | −99,000 | 0 | — | — | |
| Acquisition of LNHC, Inc. | 3 | 0 | — | — | |
| Net cash used in investing activities | −5 | 0 | — | — | |
| Proceeds from PIPE, net | 27 | 0 | — | — | |
| Proceeds from stock option exercises | 206,000 | 0 | — | — | |
| Proceeds from convertible note | 18 | 0 | — | — | |
| Proceeds from loan payable, net of debt discount | 693,000 | 536,000 | 201,008 | — | |
| Payment of loan payable, net of debt discount | −845,000 | −215,000 | — | — | |
| Common stock issued for cash | 0 | 6 | 255,412 | — | |
| Rescission of common stock | 0 | −92,000 | — | — | |
| Repurchase of common stock under stock repurchase plan | 0 | −75,000 | — | — | |
| Shares issued for cash under equity line of credit | 0 | 83,000 | — | — | |
| Net cash provided by financing activities | 45 | 6 | 1 | 2 | |
| Net increase in cash and cash equivalents | 18 | 417,000 | 41,317 | 55,074 | |
| Cash paid for income taxes | 0 | 0 | — | — | |
| Cash paid for interest expense | 19,000 | 0 | — | — | |
| Royalty obligation extinguishment | 369,000 | 0 | — | — | |
| Issuance costs allocated to convertible debt | 1 | 0 | 428,400 | — | |
| PIPE proceeds allocated to accounts payable | 2 | 0 | — | — | |
| PIPE proceeds allocated to debt payable | 20 | 0 | — | — | |
| PIPE proceeds allocated to fees | 600,000 | 0 | — | — | |
| Royalty agreement liability reclassified from additional paid in capital | 11 | 0 | — | — | |
| Debt discount from common stock issued for extension of bridge loan | 0 | 448,000 | — | — | |
| Shares issued for payment of accounts payable or for services | 53,000 | 7,000 | — | — | |
| Conversion of notes to common stock | 737,000 | 1 | — | — | |
| Transfer of liabilities to Chromocell Corporation for Series C Preferred Stock | 0 | 2 | — | — | |
| Shares issued for payment of accrued interest | 0 | 3,000 | — | — | |
| Shares issued for payment of principal on loan payable | 0 | 24,000 | — | — |
Filings
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