Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 396

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 396
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3,329 |
| Selling, general and administrative |     |              4,262 |     |  3,913 |
| Amortization of intangibles         |     |                162 |     |    179 |
| Total operating expenses            |     |             $7,156 |     | $7,421 |

Research and development expense was $2.7 million during the three months ended March 31, 2025, a decrease of $0.6 million, or 18%, compared to $3.3 million for the three months ended March 31, 2024. The decrease in research and development expense was primarily attributable to a higher volume of API manufacturing which resulted in a higher level of fixed overheads absorption into the cost of inventory, as well as a one-time success bonus paid to R&D employees upon obtaining the FDA approval which was recorded in Q1 2024 expenses. Selling, general and administrative expense was $4.3 million during the three months ended March 31, 2025, an increase of $0.3 million, or 9%, compared to $3.9 million for the three months ended March 31, 2024. The increase in selling, general and administrative expense was primarily attributable to ZELSUVMI commercialization work, including marketing and education materials and conference costs, which was partially offset by a one-time success bonus paid to administrative employees upon obtaining the FDA approval which was recorded in Q1 2024 expenses. Amortization of intangibles was $162 thousand during the three months ended March 31, 2025, a decrease of $17 thousand, or 9%, compared to $179 thousand for the three months ended March 31, 2024. The decrease in amortization of intangibles was related to the transfer of the intangible asset for NITRICIL technology from LNHC to Ligand in March 2025. Other income (expense)

|                                   |     | Three months ended 
          March 31, |     |        |
| (Dollars in thousands)            |     |               2025 |     |   2024 |
| Other income (expense), net:      |     |                    |     |        |
| Interest expense                  |     |             $(626) |     | $(370) |
| Other income (expense)            |     |                -23 |     |     -6 |
| Total other income (expense), net |     |