Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 91

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 91
---
 Total
    SG&A expense 
    $19,628  
    $1,634  
    $17,994  
    $23,984  
    $4,853  
    $19,131 

The
increase in SG&A for both periods is primarily due to the commercial launch of ZELSUVMI, which was announced on July 10, 2025.
As noted in the table above, for the three and nine months ended September 30, 2025, expenses increased from the prior respective
periods based on the launch of ZELSUVMI. These expenses include selling, patient services, pharmacovigilance, marketing, advertising,
travel, sponsorships and trade shows related to the commercial detailing of ZELSUVMI. As of September 30, 2025 the Company had
approximately 50 territory managers actively engaged in commercialization efforts related to ZELSUVMI.

In
addition, certain corporate, administrative, consulting, legal, patent, insurance, accounting, information technology and facilities
expenses have increased for the three and nine months ended as a result of the Merger.

53

Research
and Development Expense

Research
and development (“R&D”) expenses are recognized as they are incurred based on actual work completed through monitoring
invoices received and discussions with internal personnel and external service providers as to the progress or stage of completion
of preclinical activities, clinical studies and related supporting services for non-commercial assets.

The
decrease in R&D expenses for both periods is due to level of activities related to our NaV1.7 pain programs for the three
and nine months ended September 30, 2025 and 2024 as noted below (in thousands):

    For
    the Three months Ended September 30,  
    Change  
    For
    the Nine months Ended September 30,  
    Change 

    2025  
    2024  
    $  
    2025  
    2024  
    $ 

    R&D
    expense: 

    Consultants,
    chemistry manufacturing, controls and other 
    $145  
    $415  
    $(270) 
    $854  
    $894  
    $(40)

    Total
    R&D expense 
    $145  
    $415  
    $(270) 
    $854  
    $894  
    $(40)

Amortization