Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 348

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 348
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 $5.7 million, after deducting the underwriting discounts and commissions and offering expenses, and Channel may need to raise additional funds through either strategic partnerships or the capital markets. However, there is no assurance that Channel will be able to raise such additional funds on acceptable terms, if at all. If Channel raises additional funds by issuing securities, existing stockholders may be diluted.

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TABLE OF CONTENTS

Results of Operations Comparison of the Years Ended December 31, 2024 and 2023 The following table summarizes Channel’s 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 |     |  1,543,918 |     |    738,050 |     | 48%      |
| Total operating expenses                   |     |                              7,571,449 |     |  6,862,284 |     |    709,165 |     | 10%      |
| Loss from operations                       |     |                             -7,571,449 |     | -6,862,284 |     |   -709,165 |     | 10%      |
| Other expense                              |     |                               -383,889 |     |   -518,509 |     |    134,620 |     | (26)%    |
| Net loss before provision for income taxes |     |                             -7,955,338 |     | -7,380,793 |     |   -574,545 |     | 8%