Company: PTHS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001753926-25-000790
Chunk: 74

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 74
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 brand name is Maxalt, is used for the acute treatment of migraines as a pill. By a number of clinical measures, it is thought
to be superior to Sumatriptan. Both Rizatriptan and Sumatriptan belong to a family of tryptamine-based medications named “triptans”
that work as serotonin 1A receptor (or 5-HT1A-receptor) agonists and are indicated for the treatment of migraine. An intranasal
spray formulation of Rizatriptan (the “Rizatriptan Spray Formulation”) may potentially have a faster onset of action
than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea as a result of the
migraine headache. According to a study that was reported in 2001, Rizatriptan has a higher bioavailability and a more rapid onset
of action which may be responsible for better results in resolving migraines as well as better results in patients reporting that
they are “pain free” after 2 hours. Both Sumatriptan and Rizatriptan are competitors for the same indication, though
neither are widely marketed because they are generic drugs.

Ondansetron
is an anti-emetic that is available in oral and intravenous form. An Ondansetron sublingual spray formulation (the “Ondansetron
Spray Formulation”) may potentially have a faster onset of action than an oral form and may be easier to tolerate than swallowing
a pill when patients are experiencing nausea. Under the terms of the Benuvia License Agreement, Benuvia will be responsible for
the manufacturing and supply of the Spray Formulations, but we will have exclusive, worldwide rights to develop, commercialize
and distribute the Spray Formulations.

We
currently do not have strategy and development plans for the Spray Formulations licensed from Benuvia. 

Background

Channel
Therapeutics Corporation (“Channel” or the “Company”) was incorporated in Delaware on March 19, 2021.
On November 18, 2024 (“Reincorporation Merger Effective Date”), Chromocell Therapeutics Corporation, a Delaware corporation
(the “Predecessor”), merged with and into its wholly-owned subsidiary, Channel Therapeutics Corporation, a Nevada
corporation (the “Reincorporation Merger”), pursuant to an agreement and plan of merger, dated as of November 18,
202