Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 430

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 430
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 intended to be conducted in accordance with applicable Securities and Exchange Commission regulations,
including the guidelines and conditions of Rule 10b-18 and Rule 10b5-1 of the Exchange Act. We established the Repurchase Plan
on the premise that the value of the Company’s programs and prospects were not reflected in the trading price of the Company’s
Common Stock on the NYSE American and in an effort to maintain a minimum price relative to NYSE American’s listing standards.
Further, the Company endeavored to balance the repurchase of what the Company felt was undervalued stock and the Company’s
available cash, as a result of which, the timing and actual number of shares repurchased have depended and will continue to depend
on a variety of factors including trading price of the Company’s Common Stock on the NYSE American, the Company’s
financial performance, corporate and regulatory requirements and other market conditions.

Repurchase
Plan Amendment

On
October 22, 2024, the board of directors authorized an amendment (the “Plan Amendment”) to the Repurchase Plan to
increase the total value of shares of Common Stock available for repurchase by the Company under the Repurchase Plan by an additional
$500,000, to $750,000. In addition, the Plan Amendment extended the termination date of the Repurchase Plan from December 31,
2024 to June 30, 2025, prior to which Common Stock may be repurchased, unless completed sooner or otherwise extended.

We
did not repurchase any shares during the fourth quarter of the fiscal year covered by this Annual Report on Form 10-K.

Item
6. Reserved

Item
7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. 

You
should read the following discussion and analysis of our financial condition and results of operations together with our consolidated
financial statements and related notes appearing in this Report. Some of the information contained in this discussion and analysis
or set forth elsewhere in this Report, including information with respect to our plans and strategy for our business and related
financing, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those
factors set forth in the “Risk Factors” section of this Report, our actual results could differ materially from the
results described in or implied by the forward-looking statements contained in the following discussion and analysis.

Overview

We
are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical