Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 75

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 formulations of the finished drug product are
what differentiates potential treatment options for various indications.

While
the intellectual property rights for the NITRICIL technology platform were assigned by LNHC to Ligand prior to the merger, the
Company currently has the rights to the manufacturing facility, equipment and know-how to produce the API used in ZELSUVMI and
other any products that may be developed by Ligand, Ligand affiliated parties or third-party licensees related to the NITRICIL
technology platform. The MSA between Ligand and the Company provide Ligand, Ligand affiliated parties or third-party licensees
with an ability to source commercial or developmental supply of API, while also providing the Company with the associated economics
of the supply of such material.

The
NITRICIL proprietary technology platform leverages nitric oxide’s naturally occurring anti-viral, anti-bacterial, anti-fungal,
and immunomodulatory potential mechanisms of action in an effort to treat a range of diseases. Nitric oxide plays a vital role
in the natural immune system response against microbial pathogens and is a critical regulator of inflammation. The technology’s
ability to harness nitric oxide and its multiple potential mechanisms of action has enabled the creation of a platform with the
potential to generate differentiated product candidates. The two key components of the nitric oxide platform are the proprietary
NITRICIL technology, which drives the creation of macromolecular New Chemical Entities, and formulation science, both of which
are used to tune product candidates for specific targeted indications.

The
Company believes the NITRICIL technology platform has many other potential product candidates that could be further developed.
Prior to the merger, clinical work was performed in various indications, including, but not limited to, acne (SB204), atopic dermatitis
and psoriasis (SB414), tinea pedis and onychomycosis (SB208) and external genital warts (SB207), the rights to which are owned
by Ligand. However, any further development of these assets will require the Company to produce and manufacture the API for use
by Ligand, Ligand affiliated parties or third-party licensees.

NaV1.7
Pain Programs 

Prior
to the merger, the Company had been developing new therapeutics to alleviate pain. These programs selectively target the sodium
ion-channel known as “NaV1.7”, which has been genetically validated as a pain receptor in human physiology. A NaV1.7
blocker is