Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 819

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 819
---
    Provision for income taxes 
     —  
     —  
     —  
     NA 

    Net loss 
    $(7,955,338) 
     (7,380,793) 
     (574,545) 
     8%

Operating
Expenses

Our
operating expenses consist of general and administrative expenses, research and development expenses and professional fees.

General
and Administrative Expenses

We
incurred general and administrative expenses for the years ended December 31, 2024 and 2023 of $4,110,045 and $2,738,948, respectively.
For the year ended December 31, 2024, compared to the same period in 2023, this represented an increase of $1,371,097, or 50%,
primarily as a result of increases of $495,688 in compensation expenses, an increase of $212,956 marketing expenses, an increase
of $367,723 in D&O insurance, an increase of $259,535 in IPO fees, and an increase of $137,582 in board expenses.

75 

Research
and Development Expenses

We
incurred research and development expenses for the years ended December 31, 2024 and 2023 of $1,179,436, and $2,579,418, respectively.
For the year ended December 31, 2024, compared to the same period in 2023, this represented a decrease of $1,399,982, or 54%,
with the details set forth in the table below:

    Years Ended December 31, 2024 and 2023 

    2024  
    2023  
    $ Change  
    % Change 

    Consultant 
    $286,680  
    $68,900  
    $217,780  
     316%

    Lab Gas 
     1,818  
     —  
     1,818  
     NA 

    Lab Cell Storage 
     88,662  
     48,572  
     40,090  
     83%

    Chemistry Manufacturing and Controls (“CMC”) 
     642,304  
     —  
     642,304  
     NA 

    IP Services 
     159,972  
     2,461,946