15 July 2025
Pelthos Therapeutics Inc., a global biopharmaceutical company known for marketing innovative therapeutic products for patients in need, is wrapping up the previous merger agreement with CHRO Merger Sub Inc., a subsidiary of Channel Therapeutic Corporation. Further, its alliance with LNHC, as a subsidiary of Ligand Pharmaceuticals Incorporated, which is now an owned subsidiary of Channel. The whole new merged company will work under the name ‘Pelthos Therapeutics Inc.’ and the company’s shares will be listed on the NYSE American exchange, effective from 2nd July under the new symbol ‘PTHS’.
After merging, Pelthos finalized the deal on a $50.1 million private placement through the set of investors introduced by Murchinson Ltd. (investor). The capital share is engaged in Pelthos shares of series A convertible preferred stock, with the value of $0.0001 per share, and common stock of $0.01 par value. Also, consisting cancellation of $18.8 million in bridge capital. This is a sudden advancement for Pelthos of various private placement investors since the start of 2025. This leads to the contribution for the commercial launch of ZELSUVMI™.
Pelthos is currently on the official launch and marketization of ZELSUVMI™ (berdazimer) topical gel, which works 10.3% in the treatment of molluscum contagiosum infections in adults. ZELSUVMI™ (for pediatric patients one year and older) is an approved FDA-designated drug and the only prescribed medication for the treatment of molluscum that can be managed at home by caregivers, parents, and patients. Molluscum (Poxvirus) is a common skin infection addressed by pediatricians, dermatologists, and pediatric dermatologists. Around 16.7 million people in the US have been affected by the same.
Pelthos is also clearing its path for the development program of its existing Nav 1.7. The program focuses on the treatment of several types of chronic pain, post-surgical nerve blocks, and acute/chronic eye pain.
The CEO of the company, following the merger, Scott Plesha, said, “The merger demonstrates Pelthos' milestone that will take us nearer to the launch of ZELSUVMI™. We are thrilled to start as a publicly traded company that will leverage the importance of our shareholders.”
Former CEO of Channel Therapeutics corporation and the newly appointed CFO of Pelthos, Frank Knuettel 2, said, “I’m happy with the completion of the merger, also I’m excited to join the smart team at Pelthos to support the launch of ZELSUVMI™. The management team is well-experienced in launching new therapies.”
15 July 2025
15 July 2025
15 July 2025
15 July 2025