Company: PTHS
Filing Date: 2025-09-16
Form Type: 8-K/A
Source: 0001753926-25-001500
Chunk: 148

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-09-16
Form: 8-K/A
Chunk 148
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 | 3,174 |     |                  | 16,646 |     |      |  7,087 |
| Amortization of intangibles         |     |                    |      — |     |      |   178 |     |                  |    162 |     |      |    357 |
| Total operating expenses            |     | $                  | 16,322 |     | $    | 5,640 |     | $                | 23,478 |     | $    | 13,061 |

Q2 2025 vs. Q2 2024

Research and development expense was $3.9 million during the three months ended June 30, 2025, an increase of $1.7 million, or 72%, compared to $2.3 million for the three months ended June 30, 2024. The increase in research and development expense was primarily attributable to increased personnel costs of approximately $0.6 million and increased costs related to preventive maintenance associated with equipment of $0.5 million.

Selling, general and
administrative expense was $12.4 million during the three months ended June 30, 2025, an increase of $9.2 million, or 290%,
compared to $3.2 million for the three months ended June 30, 2024. The increase in selling, general and administrative expense
was primarily attributable to a $5.0 million milestone owed to Ligand related to ZELSUVMI commercialization activities, commercialization
work, including marketing and education materials and conference costs totaling $1.8 million.

Amortization of intangibles was $0 thousand during the three months ended June 30, 2025, a decrease of $178 thousand, or 100%, compared to $178 thousand for the three months ended June 30, 2024. The decrease in amortization of intangibles was related to the transfer of the intangible asset for the NITRICIL technology from LNHC to Ligand in March 2025.

YTD 2025 vs. YTD 2024

Research and development
expense was $6.7 million during the six months ended June 30, 2025, an increase of $1.1 million, or 19%, compared to $5.6
million for the six months ended June 30, 2024. The increase in research and development expense was primarily attributable
to increased