Company: PTHS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001753926-25-000790
Chunk: 1

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
---
shares authorized, 6,183,562 and 6,103,813 shares issued
    and outstanding as of March 31, 2025 and December 31, 2024, respectively

    621

    613

    Additional
    paid in capital

    19,246,143

    18,760,320

    Accumulated
    deficit

    (23,442,598
    )

    (21,474,987
    )

    TOTAL
    STOCKHOLDERS’ DEFICIT

    (4,195,834
    )

    (2,714,054
    )

    TOTAL
    LIABILITIES AND STOCKHOLDERS’ DEFICIT
     
    $
    911,179

    $
    1,369,143

The
accompanying notes are an integral part of these consolidated financial statements.

1

CHANNEL
THERAPEUTICS CORPORATION

CONSOLIDATED
STATEMENTS OF OPERATIONS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Unaudited)

    For
    the Three Months Ended March 31,

    2025

    2024

    OPERATING
    EXPENSES

    General
    and administrative expenses
     
    $
    1,090,049

    $
    787,561

    Research
    and development

    194,298

    466,606

    Professional
    fees

    549,630

    679,815

    Total
    operating expenses

    1,833,977

    1,933,982

    NET
    LOSS FROM OPERATIONS

    (1,833,977
    )

    (1,933,982
    )

    OTHER
    EXPENSE

    Interest
    expense

    (133,634
    )

    (628,348
    ) 

    Total
    other expense

    (133,634
    )

    (628,348
    )

    Net
    loss before provision for income taxes

    (1,967,611
    )

    (2,562,330
    )

    Provision
    for income taxes

    —

    —

    NET
    LOSS
     
    $
    (1,967,611
    )
     
    $
    (2,562,330