Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 219

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 1
Chunk 219
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 and not with a view to or for sale in connection with any distribution thereof.

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers

Stock
Repurchase Plan:

On
August 5, 2024, the board of directors authorized a stock repurchase plan (the “Repurchase Plan”) pursuant to which
up to $250,000 of the Company’s Common Stock may be repurchased prior to December 31, 2024, unless completed sooner
or otherwise extended. 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. 

We
did not repurchase any shares during the second quarter of the fiscal year covered by this Quarterly Report on Form 10-Q and the
Repurchase Plan expired on June 30, 2025. 

Item
3. Defaults Upon Senior Securities

None.

Item
4. Mine Safety Disclosures

Not
applicable.

Item
5. Other Information

None.

47 

Item
6. Exhibits

    Exhibit
Number
     
    Description  

    3.1
     
    Certificate of Amendment to Articles of Incorporation, filed with the Secretary of State of the State of Nevada on July 1, 2025 (Name Change Certificate of Amendment) (incorporated