Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 34

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 intangible assets 
     32,521  
     — 

    Total goodwill and other identifiable intangible assets, net 
    $63,146  
    $— 

Amortization
of finite-lived intangible assets is computed using the straight-line method over the estimated useful life of the asset of approximately
12 years and 13 years for the developed technology and Sato license, respectively. The Company’s amortization expense was
$679 for the three and nine months ended September 30, 2025. The Company had no impairment of goodwill or intangible assets
during the three or nine months ended September 30, 2025.

Accrued
expenses consisted of the following:

    September 30, 2025  
    December 31, 2024 

    Compensation 
    $2,432  
    $— 

    Drug product manufacturing subcontractor 
     387  
     — 

    PDUFA Fee 
     —  
     — 

    Commercialization milestone and royalties payable 
     6,250  
     — 

    Accrued gross-to-net adjustments 
     761  
     — 

    Other 
     2,060  
     — 

    Total accrued expenses 
    $11,890  
    $— 

Other
liabilities and other long-term liabilities consisted of the following:

    September 30, 2025  
    December 31, 2024 

    Reedy Creek Purchase Agreement 
    $2,830  
    $— 

    ZELSUVMI Royalty Agreement 
     2,021  
     — 

    Channel Products Royalty Agreement 
     711  

    Total other liabilities 
    $5,562  
    $— 

    Reedy Creek Purchase Agreement 
    $17,465  
    $— 

    ZELSUVMI Royalty Agreement 
     7,327  
     — 

    Channel Products Royalty Agreement 
     1,383  
     — 

    Total other long-term liabilities 
    $26,175  
    $— 

    23

See
Note 7 — “Reedy Creek Liability” and Note 8 — “License and Other Agreements” for additional
detail regarding the carrying value of certain balances reflected within the accompanying condensed consolidated