Company: PTHS
Filing Date: 2025-09-16
Form Type: 8-K/A
Source: 0001753926-25-001500
Chunk: 153

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-09-16
Form: 8-K/A
Chunk 153
---
 was $15.7 million and $12.7 million, respectively, consisting primarily of the operating loss for the respective period.

Net cash used in investing activities for the six months ended June 30, 2025 and 2024 was $67 thousand and $29 thousand, respectively, consisting exclusively of purchases of property and equipment.

Net cash provided by financing activities for the six months ended June 30, 2025 and 2024 was $18.5 million and $12.7 million, respectively, consisting exclusively of cash transferred to the Company from parent based on Company cash needs for operating and investing activities. Parent company managed our cash and financing arrangements prior to the completion of the separation.

Contractual Obligations and Commitments

We have entered into arrangements that contractually obligate us to make payments that will affect our liquidity and cash flows in future periods. Such arrangements include those related to our lease commitments, long-term debt, and long-term manufacturing agreements.

Lease Commitments

Our lease commitments reflect payments due under our operating lease agreement for our corporate headquarters and small-scale manufacturing site. The lease expires in 2032. As of June 30, 2025, our contractual commitments for the lease were $4.7 million, of which $324 thousand is expected to be paid through the end of 2025, and $4.4 million will be paid over the remaining term of such leases. For additional information on our leases and timing of future payments, please read Note (7), Leases, to the condensed financial statements included in this Form 8-K/A.

Reedy Creek

On April 29, 2019, we entered into the Reedy Creek Purchase Agreement with Reedy Creek, pursuant to which Reedy Creek provided funding to us in an amount of $25 million for us to pursue the development, regulatory approval and commercialization activities (including through out-license agreements and other third-party arrangements) for SB206, a topical gel with anti-viral properties being developed as a treatment for molluscum, and advancing programmatically such activities with respect to SB204, a once-daily, topical monotherapy being developed for the treatment of acne vulgaris, and SB414, a topical cream-based product candidate being developed for the treatment of atopic dermatitis. For additional information on our Reedy Creek obligation and timing of future payments, please read Note (5), Reedy Creek Liability, to the condensed financial statements included in this Form 8-K/A.

Ligand Pharmaceuticals

On