Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 106

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 106
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 market price of Channel common stock. In order to raise additional capital, Channel may in the future offer additional shares of Channel common stock or other securities convertible into or exchangeable for Channel common stock. Investors purchasing shares or other securities in the future could have rights superior to existing shareholders. The price per share at which Channel sells additional shares of Channel common stock, or securities convertible or exchangeable into Channel common stock, in future transactions may be higher or lower than the price per share paid by investors in previous offerings by Channel. Management will have broad discretion as to the use of the proceeds from Channel’s sale of Purchase Shares to Tikkun under the CEF Purchase Agreement, and such uses may not improve our financial condition or market value. Because Channel has not designated the amount of net proceeds from its sale to Tikkun of Purchase Shares to be used for any particular purpose, its management will have broad discretion as to the application of such net proceeds. Its management may use the net proceeds for corporate purposes that may not improve its financial condition or advance its business objectives. Risks Related to LNHC ’s Business Risks Related to LNHC’s Financial Position and Capital Needs LNHC has incurred significant losses since its inception. LNHC expects to incur losses until revenue from ZELSUVMI is sufficient to fund LNHC’s operations, if ever, and may never achieve or maintain profitability. If LNHC does not achieve or maintain profitability, it may need additional funding to continue its business operations. LNHC was formed by Ligand to hold the assets Ligand acquired from Novan, Inc. (“Novan”) in September 2023 (“Novan Acquisition”). LNHC is currently focused on the commercialization of ZELSUVMI for the treatment of molluscum contagiosum. Since the Novan Acquisition, LNHC has incurred significant net losses, and its operations have been financed by its parent, Ligand. LNHC has devoted substantially all of its financial resources and efforts to the development and commercialization of ZELSUVMI, its product for the topical treatment of molluscum contagiosum. ZELSUVMI was approved by the FDA for the treatment of molluscum contagiosum in adults and pediatric patients one year of age and older in January 2024. LNHC expects to continue to incur significant expenses and operating losses until revenue from ZELSUVMI is sufficient to fund its operations. LNHC’s net losses may fluctuate significantly from quarter to quarter and year to year. LNHC’s expenses may increase substantially, as it