Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 48

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 48
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 For as long as we qualify as a “smaller reporting company,” we may provide reduced disclosure
in the public filings that we make with the U.S. Securities and Exchange Commission (the “SEC”) than larger public
companies, such as the inclusion of only two years of audited financial statements and only two years of management’s
discussion and analysis of financial condition and results of operations disclosure.

As
a result of qualifying as an emerging growth company and a smaller reporting company, to the extent we take advantage of the allowable
reduced reporting burdens, the information that we provide to our stockholders may be different than what you might receive from
other public reporting companies in which you hold equity interests. 

Item
1A. Risk Factors

Our
business, financial condition and operating results are subject to a number of risk factors, both those that are known to us and
identified below and others that may arise from time to time. These risk factors could cause our actual results to differ materially
from those suggested by forward-looking statements in this Report and elsewhere, and may adversely affect our business, financial
condition or operating results. If any of these risk factors should occur, moreover, the trading price of our securities could
decline, and investors in our securities could lose all or part of their investment in our securities. These risk factors should
be carefully considered in evaluating our prospects.

27 

Summary
of Risk Factors

Our
business is subject to a number of risks that you should be aware of before making an investment decision to purchase our securities.
You should carefully consider all of the information set forth in this Report and, in particular, should evaluate the specific
factors set forth in the section titled “Risk Factors” in deciding whether to invest in our securities. Among these
important risks are the following:

    ●
    The report of the
    independent registered public accounting firm on our 2024 and 2023 financial statements contains a going concern qualification;

    ●
    We are a clinical
    stage biopharmaceutical company with a limited operating history;

    ●
    We have incurred
    net losses since inception. We expect to incur losses for the foreseeable future and may never achieve or maintain profitability;

    ●
    We have identified
    material weaknesses in our internal control over financial reporting;

    ●
    We will need to
    raise additional funding to receive approval for CC8464, CT2000, CT3000 or any other future compound. Such funding