Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 32

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 agreement is within other long-term liabilities in the table above. Significant assumptions
include the management’s revenue forecast, royalty rate, and concluded discount rate. See Note 7— “Reedy Creek Liability”
for additional detail regarding the fair value of the Reedy Creek liability.

Deferred
taxes were adjusted to record the deferred tax impact of acquisition accounting adjustments primarily related to amounts allocated
to intangible assets and inventory.

Pro
Forma Statement of Operations Information

The
following unaudited pro forma financial information presents the combined results of operations as if LNHC had been combined with
the Company as of January 1, 2024. The pro forma financial information includes the accounting effects of the business combination,
including the amortization of intangible assets. The unaudited pro forma financial information is presented for informational
purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place
at the beginning of the periods presented, nor should it be taken as indication of the Company’s future consolidated results
of operations.

The
pro forma financial information has been calculated after applying the Company’s accounting policies and includes adjustments
for transaction-related costs:

Schedule of Pro Forma Financial Information 

    Three months Ended  
    Nine months Ended 

    September 30, 2025  
    September 30, 2024  
    September 30, 2025  
    September 30, 2024 

    Total revenue 
    $7,406  
    $219  
    $8,017  
    $656 

    Net loss and comprehensive loss 
     (16,238) 
     (8,859) 
     (42,747) 
     (27,793)

For
the nine month ended September 30, 2025, the Company recorded Merger related expenses of $1,022 in its condensed consolidated
statements of operations within selling, general and administrative expense.

21

NOTE
4 - BALANCE SHEET ACCOUNT DETAILS

Prepaid
expenses and other current assets consisted of the following:

    September 30, 2025  
    December 31, 2024 

    Prepaid Prescription Drug User Fee Act (PDUFA) fees 
    $543  
    $— 

    Prepaid insurance 
     1,009  
     — 

    Deposits for meetings and conferences 
     242