Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 132

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 from which, the Company received net proceeds from the IPO of approximately $5.7 million after deducting
the underwriting discounts and commissions and offering expenses payable by the Company (excluding any exercise of the warrants
issued to A.G.P./Alliance Global Partners (the “Representative”)
or its designees, in connection with the IPO).

Based
on the Company’s current projections, management believes there is substantial doubt about its ability to continue to operate
as a going concern and fund its operations through at least the next twelve months following the issuance of these condensed consolidated
financial statements. While the Company completed
an equity offering of $50.1 million subsequent to the end of the reporting period, the
Company expects that costs associated with the commercial launch of Zelsuvmi (acquired pursuant to the Merger), the potential
acquisition of a second FDA approved product and costs related to potential clinical trials associated with the pain assets will
require the Company to raise additional funds. 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 Three Months Ended June 30, 2025 and 2024

The
following table summarizes our results of operations for the three months ended June 30, 2025 and 2024:

    Three
    Months Ended June 30, 2025 and 2024

    2025

    2024

    $
    Change

    %
    Change

    OPERATING EXPENSES

    General and administrative expenses
     
    $
    1,110,084

    $
    1,209,874

    $
    (99,790
    ) 

    (8
    )%

    Research and development

    514,814

    12,955

    501,859

    3,874
    %

    Professional fees

    1,605,525

    541,257

    1,064,268

    197
    %

    Total operating expenses

    3,230,423

    1,764,086

    1,466,337

    83
    %

    Loss from operations

    (3,230,423
    )

    (1,764,086