Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 58

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 58
---
 related to the deferred tax impact
of acquisition accounting adjustments primarily related to amounts allocated to intangible assets and inventory. For the three
and nine months ended September 30, 2025, the Company recorded $465 of income tax benefit due to the amortization of deferred
tax liabilities related to intangible assets and inventory as part of the ASC 805 accounting for the acquisition of LNHC, Inc.
See Note 3 — “Acquisition of LNHC, Inc.” for additional details regarding this transaction.

NOTE
13 - SEGMENT INFORMATION

The
Company has determined that it operates in two segments, which represent (i) the sale, promotion and commercialization of approved
commercial products (the “Commercial Operations” segment), and (ii) research and development activities (the “Research
and Development Operations” segment).

•The
                                         Commercial Operations segment consists of the Company’s ZELSUVMI commercial product.

•The
                                         Research and Development Operations segment consists of (i) activities related to developing
                                         a novel and proprietary class of NaV blockers that target the body’s peripheral
                                         nervous system; and (ii) supportive activities to expand the NITRICIL nitric oxide-based
                                         technology.

The
Commercial Operations segment includes activities related to the commercialization of ZELSUVMI (berdazimer topical gel, 10.3%),
the Company’s FDA-approved product for the treatment of molluscum contagiosum, and associated sales, marketing, distribution,
and post-marketing activities. Net revenues attributed to this segment are derived from product sales in the United States following
the July 1, 2025 merger with LNHC.

The
Research and Development Operations segment is primarily responsible for the NaV1.7 pain-modulation program and other preclinical
candidates. This segment may also include activities associated with the Company’s license and collaboration arrangements,
including the license with Sato covering development and commercialization of ZELSUVMI (SB206) in Japan.

Costs
associated with product development are recorded within the Research and Development Operations segment. There are no significant
inter-segment sales, and there is no inter-segment allocation of non-operating income, expenses, or income taxes. Mr. Plesha,
the Company’s Chief Executive Officer, is CODM.

Segment
revenue, net and comprehensive loss and total assets were as follows:

    Three Months Ended September 30, 2025  
    Three Months Ended September 30, 2024