Company: PTHS
Filing Date: 2025-09-16
Form Type: 8-K/A
Source: 0001753926-25-001500
Chunk: 154

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-09-16
Form: 8-K/A
Chunk 154
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 March 24, 2025, we assigned our IP portfolio to Ligand, and entered into an exclusive license and sublicense agreement with Ligand, pursuant to which Ligand licensed to us the intellectual property rights necessary to make, use, sell or offer to sell ZELSUVMI for the treatment of molluscum contagiosum in humans worldwide, except for Japan. In addition, on March 24, 2025, we and Ligand also entered into a Master Services Agreement under which Ligand, or related parties, may contract with us to provide active pharmaceutical ingredients for clinical or commercial use related to NITRICIL technology. In addition, the agreement also allows Ligand to require us to provide manufacturing technology transfer services, if requested, for products other than ZELSUVMI for the treatment of molluscum contagiosum in humans, to a potential third-party manufacturer. For additional information on our Ligand obligation and timing of future payments, please read Note (4), License Agreements, to the condensed financial statements included in this Form 8-K/A.

Other Obligations

In February 2025,
LNHC entered into a non-exclusive Contract Management Agreement with Orion to manufacture and assemble various components related
to the ZELSUVMI commercial drug product, including the final fill/finish process and product packaging. This agreement has an initial
period of five years, with automatic two-year renewal periods thereafter, unless a notice of non-renewal is provided by either
party. This commercial supply agreement includes customary terms governing the manufacture of the ZELSUVMI drug product, including
but not limited to, a quality agreement governing the manufacture and quality control of the drug product, required periodic forecasting
and demand planning/production scheduling, periodic non-binding, and binding purchase commitments, including minimums, and pricing
and cost parameters.

Critical Accounting Policies and Estimates

The preparation of condensed financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the condensed financial statements and accompanying notes. The SEC has defined a company’s critical accounting policies as the ones that are most important to the portrayal of the company’s financial condition and results of operations, and which require the company to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition, we have identified the critical accounting policies and judgments addressed below. We also have other key accounting policies, which