Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 48

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 48
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 yet demonstrated the ability to successfully complete a large-scale, pivotal clinical trial, obtain marketing approval, manufacture a commercial scale product, arrange for a third party to do so on its behalf, or conduct sales and marketing activities necessary for successful product commercialization. Consequently, predictions about Channel’s future success or viability may not be as accurate as they could be if Channel had a history of successfully developing and commercializing pharmaceutical products. Accordingly, you should consider our prospects in light of the costs, uncertainties, delays and difficulties frequently encountered by companies in the early stages of development, especially early-stage clinical pharmaceutical companies such as Channel. Potential investors should carefully consider the risks and uncertainties that a company with a limited operating history will face. In particular, potential investors should consider that Channel cannot assure you that Channel will be able to, among other things:

| • | successfully implement or execute its current business plan, and Channel cannot assure you that its business plan will lead to an approval or successful commercialization; |

| • | successfully manufacture Channel’s compounds and establish commercial supply; |

| • | successfully complete the clinical trials necessary to obtain regulatory approval for the marketing of CC8464, CT2000 and CT3000; |

| • | secure market exclusivity and/or adequate intellectual property rights for Channel’s compounds in each jurisdiction in which it does or plans to commercialize its compounds or where its competitors are organized or may engage in competitive activity; |

| • | attract and retain an experienced management and advisory team; |

| • | secure acceptance of Channel’s compounds in the medical community and with third-party payors and consumers; |

| • | raise sufficient funds in the capital markets or otherwise to effectuate Channel’s business plan; and |

| • | utilize the funds that Channel does have and/or raise in the future to efficiently execute its business strategy. |

If Channel cannot successfully execute any one of the foregoing, its business may fail, and your investment will be adversely affected. Channel has incurred net losses since inception. Channel expects to incur losses for the foreseeable future and may never achieve or maintain profitability. There are numerous risks and uncertainties associated with pharmaceutical product and biological development, and Channel is unable to accurately predict the timing or amount of increased expenses or when, or if, it will be able to achieve profitability. Channel has had net losses since inception, and Channel had an accumulated deficit of approximately $21.5 million and $13.5 million as of December 31, 2024 and December 31, 2023, respectively, which includes a net loss