Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1187

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 1187
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 had a net loss of approximately $8.0 million and approximately $7.4 million, respectively,
and will require additional capital in order to operate in the normal course of business and fund clinical studies. The IPO closed
on February 21, 2024, from which, the Company received net proceeds from the IPO of approximately $5.7 million after deducting
the underwriting discounts and commissions and offering expenses payable by the Company (excluding any exercise of the warrants
issued to A.G.P./Alliance Global Partners (the “Representative”)
or its designees, in connection with the IPO).

Based
on the Company’s current projections, management believes there is substantial doubt about its ability to continue to operate
as a going concern and fund its operations through at least the next twelve months following the issuance of these consolidated
financial statements. While the Company will continue to invest in its business and the development of CC8464, CT2000 and CT 3000,
and potentially other molecules, it is unlikely that the Company will generate product or licensing revenue during the next twelve
months. During the period, the Company completed its initial public offering, raising $5.7 million, after
deducting the underwriting discounts and commissions and offering expenses, and the Company
may need to raise additional funds through either strategic partnerships or the capital markets. However, there is no assurance
that the Company will be able to raise such additional funds on acceptable terms, if at all. If the Company raises additional
funds by issuing securities, existing stockholders may be diluted.

Results
of Operations

Comparison
of the Years Ended December 31, 2024 and 2023

The
following table summarizes our results of operations for the years ended December 31, 2024 and 2023:

    Years Ended December 31, 2024 and 2023 

    2024  
    2023  
    $ Change  
    % Change 

    OPERATING EXPENSES 

    General and administrative expenses 
    $4,110,045  
    $2,738,948  
    $1,371,097  
     50%

    Research and development 
     1,179,436  
     2,579,418  
     (1,399,982) 
     (54)%

    Professional fees 
     2,281,968  
     1,543