Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 106

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 106
---
 all payment
obligations, due diligence, reporting, information, inspection and recordation obligations of Ligand under the UNC license agreement.

In
addition, the Company also has development rights for a period of 1 year commencing on the effective date of the ZELSUVMI License,
to negotiate in good faith a development and funding agreement the Company to obtain rights to develop and commercialize the product
program designated by Ligand as SB207. If the Parties are unable to enter into a mutually agreeable development and funding agreement
within 1 year of the effective date, of the ZELSUVMI License, the Company will have no further rights to the SB207 program.

Ligand
Master Services Agreement

On
March 24, 2025, LNHC and Ligand entered into the Ligand MSA under which Ligand, or related parties, may contract with LNHC for
LNHC to provide Ligand active pharmaceutical ingredients for clinical or commercial use related to NITRICIL technology. In addition,
the agreement also allows Ligand to require LNHC to provide manufacturing technology transfer services, if requested by Ligand,
for products utilizing NITRICIL technology other than ZELSUVMI for the treatment of molluscum contagiosum in humans, to a potential
third-party manufacturer.

Ligand
Transition Services Agreement

On
July 1, 2025, LNHC and Ligand entered into the Ligand TSA under which Ligand and LNHC could provide certain services to the other
party related to supportive activities for intellectual property, R&D, or regulatory services provide by the Company to Ligand,
or for certain administrative functions to be provided to the Company by Ligand. The TSA governs the nature of the activities
of work, their scope, and the amounts be the charged to either party based on services performed.

UNC
License Agreement

The
UNC License Agreement currently requires the Company to pay UNC up to $250,000 in regulatory and commercial milestones on a licensed
product by licensed product basis and a running royalty percentage in the low single digits on net sales of licensed products.
Licensed products include any products being developed by the Company or by its sublicensees. In addition, the Company is obligated
to reimburse UNC for reasonable prosecution and maintenance costs related to intellectual property. The UNC License Agreement
remains in effect on a country by country and licensed product by licensed product basis until the expiration of the last to expire
issued patent covering such licensed product in the applicable country