Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 568

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 568
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 the development of CC8464, CT2000 and CT 3000,
and potentially other molecules, it is unlikely that the Company will generate product or licensing revenue during the next twelve
months. During the period, the Company completed its initial public offering, raising $5.7 million, after
deducting the underwriting discounts and commissions and offering expenses, and the Company
may need to raise additional funds through either strategic partnerships or the capital markets. However, there is no assurance
that the Company will be able to raise such additional funds on acceptable terms, if at all. If the Company raises additional
funds by issuing securities, existing stockholders may be diluted.

Results
of Operations

Comparison
of the Years Ended December 31, 2024 and 2023

The
following table summarizes our results of operations for the years ended December 31, 2024 and 2023:

    Years Ended December 31, 2024 and 2023 

    2024  
    2023  
    $ Change  
    % Change 

    OPERATING EXPENSES 

    General and administrative expenses 
    $4,110,045  
    $2,738,948  
    $1,371,097  
     50%

    Research and development 
     1,179,436  
     2,579,418  
     (1,399,982) 
     (54)%

    Professional fees 
     2,281,968  
     1,543,918  
     738,050  
     48%

    Total operating expenses 
     7,571,449  
     6,862,284  
     709,165  
     10%

    Loss from operations 
     (7,571,449) 
     (6,862,284) 
     (709,165) 
     10%

    Other expense 
     (383,889) 
     (518,509) 
     134,620  
     (26)%

    Net loss before provision for income taxes 
     (7,955,338) 
     (7,380,793) 
     (574,545) 
     8%

    Provision for income taxes 
     —  
     —  
     —  
     NA