Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 49

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 49
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 of approximately $21.5 million and $13.5 million as of December 31, 2024 and December 31, 2023, respectively, which includes a net loss of approximately $8.0 million for year ended December 31, 2024, and approximately $7.4 million the year ended December 31, 2023, respectively. Overall, these conditions have raised substantial doubt regarding its ability to continue as a going concern beyond one year of the filing of Channel’s consolidated financial statements. Channel’s ability to continue as a going concern is dependent upon the ability to complete clinical studies and implement its business plan, raise capital, generate sufficient revenues and to control operating expenses. Channel has primarily financed our operations through a combination of a series of cash advances, equity raises, bridge and promissory note issuances, licensing arrangements, government grants and Channel’s initial public offering (from which it raised net proceeds of approximately $5.7 million, after deducting underwriting discounts, commissions and other offering expenses) (the “IPO”). Channel’s ability to achieve significant profitability depends on its ability to successfully complete the development of, and obtain the regulatory approvals necessary to commercialize, CC8464, CT2000, CT3000 and/or additional compounds. Channel expects that it will take several years, if ever, before it has a commercialized compound. The net losses Channel incurs may fluctuate significantly from quarter to quarter.

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If Channel is required by the FDA, the EMA, or other international regulatory authorities to which it may be subject, to perform studies in addition to those currently expected, or if there are any delays in completing its clinical trials or the development of CC8464, CT2000, CT3000 and/or other future compounds, its expenses could increase and revenue could be further delayed. Channel anticipates that its expenses will increase substantially if, and as, Channel:

| • | continues its research and the clinical development of CC8464, CT2000 and CT3000; |

| • | launches human proof of concept of CT2000 for the treatment of eye pain; |

| • | conducts CMC and develops GMP formulations and human proof of concept of CT3000 for the treatment of post-surgical pain; |

| • | initiates additional clinical trials and preclinical studies for any additional compounds that it may pursue in the future; |

| • | prepares a New Drug Application (an “NDA”) for filing with the FDA