Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 337

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 337
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 should read the following discussion and analysis of Channel’s financial condition and results of operations together with Channel’s consolidated financial statements and related notes appearing in this information statement. Some of the information contained in this discussion and analysis or set forth elsewhere in this information statement, including information with respect to Channel’s plans and strategy for Channel’s business and related financing, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the “Risk Factors” section of this information statement, Channel’s actual results could differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. Overview Channel is a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Channel’s clinical focus is to 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 a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the CNS. Channel’s goal is to develop a novel and proprietary class of NaV blockers that target the body’s peripheral nervous system. Channel has formally launched three programs developing pain treatment therapeutics, all of which are based on the same proprietary molecule, as follows: Eye Pain: Based on a novel formulation of CC8464, Channel’s Eye Pain program, titled CT2000, is for the potential treatment of both acute and chronic eye pain. NaV1.7 channels are present on the cornea, making it a viable biological target for treating eye pain. Eye pain may occur with various conditions, including severe dry eye disease, trauma and surgery. Existing therapies for eye pain (such as steroids, topical non-steroidal anti-inflammatory agents, lubricants, local anesthetics) are limited in their effectiveness and/or limited in the duration that they may be prescribed because of safety issues. Channel intends to explore the viability of developing CT2000 as a topical agent for the relief of eye pain. A potential advantage of this approach is that topical administration of CT2000 is unlikely to lead to any hypersensitivity or skin reactions, like what was noted with systemic administration of CC8464, because the systemic absorption from a topical administration would be extremely limited. Channel has developed topical ophthalmic formulations and are pursuing trial plans as set forth below. Current options for the treatment of ocular pain center on the use of corticosteroids and non-steroidal anti