Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 137

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 137
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 focus
is to selectively target the sodium ion-channel known as “NaV1.7”, which has been genetically validated as a pain
receptor in human physiology. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way
to prevent the transmission of pain perception to the CNS. Our goal is to develop a novel and proprietary class of NaV blockers
that target the body’s peripheral nervous system. This segment is currently pre-revenue.

The
accounting policies of the clinical-stage biotech segment are the same as those described in the summary of significant accounting
policies.

The
chief operating decision maker assesses performance for the clinical-stage biotech segment and decides how to allocate resources
based on net loss that also is reported on the statement of operations as consolidated net loss.

The
measure of segment assets is reported on the balance sheet as total assets.

The
chief operating decision maker uses net loss to evaluate spending in deciding how funds should be allocated in preforming the
Company’s research and development. Net loss is used to monitor budget versus actual results.

The Company has
one reportable segment: clinical-stage biotech. This segment performs research and development for biotech products. Since the
Company only has one segment, the segment information is the same as the consolidated financials.

The Company’s
chief operating decision maker includes the chief executive officer, with such individual also holding the position of chief financial
officer.

80 

Item
7A. Quantitative and Qualitative Disclosures About Market Risk.

As
a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information required
by this Item.

Item
8. Financial Statements and Supplementary Data.

The
Company’s consolidated financial statements, notes to the consolidated financial statements, and the reports of the Company’s
independent registered accountants required to be filed in response to this Item 8 begin on page F-1 of this Report.

Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item
9A. Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures

As
required by Rule 13a-15 under the Exchange Act, we have carried out an evaluation of the effectiveness of our disclosure controls
and procedures as of the end of the period covered by this Report. This evaluation was carried out under the supervision and with
the participation of our management,