Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 7

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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) 

(in
thousands, except share and per share amounts)

    For the Nine months Ended September 30, 

    2025  
    2024 

    Cash flow from operating activities: 

    Net loss 
    $(21,655) 
    $(6,029)

    Adjustments to reconcile net loss to net cash used in operating activities 

    Accretion of interest for royalty obligations 
     1,316  
     — 

    Depreciation of property and equipment 
     389  
     — 

    Amortization of intangibles 
     679  
     — 

    Amortization of debt discount 
     259  
     616 

    Lease amortization expense 
     74  
     — 

    Stock-based compensation 
     3,662  
     1,269 

    Inventory write-off 
     792  
     — 

    Gain on default judgment 
     —  
     (363)

    Changes in operating assets and liabilities: 

    Accounts receivable 
     (7,940) 
     — 

    Inventory 
     1,385  
     — 

    Prepaid expenses 
     (1,411) 
     (890)

    Operating lease right-of-use assets 
     243  
     — 

    Accounts payable 
     4,031  
     558 

    Accrued expenses 
     2,689  
     (283)

    Operating lease liabilities 
     (189) 
     — 

    Deferred revenue 
     (294) 
     — 

    Deferred income tax 
     (465) 
     — 

    Other assets and liabilities 
     97  
     — 

    Net cash used in operating activities 
     (16,338) 
     (5,122)

    Cash flow from investing activities: 

    Acquisition of LNHC, Inc. 
     2,761  

    Net cash provided by investing activities 
     2,761  
     — 

    Cash flow from financing activities: 

    Proceeds from PIPE, net 
     27,384  
     — 

    Proceeds from stock option exercises 
     85