Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 87

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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    Interest
    expense 
     (1,346) 
     (39) 
     (1,307) 
     (1,698) 
     (678) 
     (1,020)

    Interest
    income and other income 
     5  
     393  
     (388) 
     5  
     396  
     (391)

    Total
    other (expense) income 
     (1,341) 
     354  
     (1,695) 
     (1,693) 
     (282) 
     (1,411)

    Net
    loss before provision for income taxes 
     (16,703) 
     (1,695) 
     (15,008) 
     (22,120) 
     (6,029) 
     (16,091)

    Provision
    for income taxes 
     (465) 
     —  
     (465) 
     (465) 
     —  
     (465)

    Net
    loss and comprehensive loss 
    $(16,238) 
    $(1,695) 
    $(14,543) 
    $(21,655) 
    $(6,029) 
    $(15,626)

51

Net
Product Revenues

The
Company currently sells ZELSUVMI to three wholesalers and one specialty distributor in the United States. Revenue from product
sales is recognized when the customer obtains control of the Company's product, which typically occurs on delivery. Revenue from
product sales is recorded at the transaction price, net of estimates for variable consideration consisting of prompt-pay discounts,
customer fees, government rebates, co-payment assistance and payor rebates and administration fees for which reserves are established.
These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions
of accounts receivable (if the amount is payable to the customer) or a liability (if the amount is payable to a party other than
the customer).

For
the three and nine months ended September 30, 2025, respectively, net product revenues were $7.1 million. The increase for both
periods is due to the commercial launch of ZELSUVMI, which was announced on July 10, 2025.

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