Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 116

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 well as additional
damages against Mr. Kopfli in the amount of $348,461, and (ii) directing entry of judgment in the Company’s favor for those
amounts, accordingly. As of June 30, 2025, the Company has removed the accrual of $348,461 in compensation expenses.

    26 

Lang
Demand Letter

On
July 24, 2025, the Company received a demand latter (the “Lang Demand Letter”) from an attorney representing Dr. Eric
Lang, the former Chief Medical Officer of the Company. The Lang Demand Letter asserts that the Company breached Dr. Lang’s
employment contract with the Company and violated Dr. Lang’s rights under New Jersey wage and hour laws and the federal
Consolidated Omnibus Budget Reconciliation Act (“COBRA”). The Lang Demand Letter asserts potential liability of as
much as $1,008,095, an amount that includes liquidated damages of $640,000 that the Company believes are unavailable under applicable
law. The Company is in the process of responding to the Lang Demand Letter. We are unaware of any litigation or proceeding against
the Company in connection with the Lang Demand letter at this time. The Company intends to defend itself vigorously in the event
that any action is commenced against it regarding the same.

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary
Notice Regarding Forward Looking Statements

This
Quarterly Report on Form 10-Q (this “Report”) contains “forward-looking statements” within the meaning
of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements discuss matters that are not historical
facts. Because they discuss future events or conditions, forward-looking statements may include words such as “anticipate,”
“believe,” “estimate,” “intend,” “could,” “should,” “would,”
“may,” “seek,” “plan,” “might,” “will,” “expect,” “predict,”
“project,” “forecast,” “potential,” “continue,” negatives thereof or similar expressions.
These forward-looking statements are found at various places throughout this Report and include information concerning possible
or assumed future results of Pelthos Therapeutics Inc.’s (“Pelthos”, the “Company”, “our”,
“us