# EDGAR Filing Document

**Accession Number:** 0001919246
**File Stem:** 0001753926-25-001081
**Filing Date:** 2025-7
**Character Count:** 13439
**Document Hash:** 211c533bfd34ca26aea67089444fff89
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001753926-25-001081.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001753926-25-001081

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pelthos Therapeutics Inc.
- **CENTRAL INDEX KEY:** 0001919246
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 863335449
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94460
- **FILM NUMBER:** 251106841

**BUSINESS ADDRESS:**
- **STREET 1:** 685 US HIGHWAY ONE
- **CITY:** NORTH BRUNSWICK
- **STATE:** NJ
- **ZIP:** 08902
- **BUSINESS PHONE:** 9176446313

**MAIL ADDRESS:**
- **STREET 1:** 685 US HIGHWAY ONE
- **CITY:** NORTH BRUNSWICK
- **STATE:** NJ
- **ZIP:** 08902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Channel Therapeutics Corp
- **DATE OF NAME CHANGE:** 20241118

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Chromocell Therapeutics Corp
- **DATE OF NAME CHANGE:** 20220323
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Friedberg Ezra M
- **CENTRAL INDEX KEY:** 0001679440

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 1000 MARINA BOULEVARD
- **STREET 2:** SUITE 250
- **CITY:** BRISBANE
- **STATE:** CA
- **ZIP:** 94005

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Pelthos Therapeutics Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**171126204**

*(CUSIP Number)*

**Marisa Kugelmann**<br>1251 Avenue of the Americas<br>New York NY 10020<br>212-660-3010

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**07/01/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **171126204** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ezra Friedberg** | Name of reporting person<br>**Ezra Friedberg** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**118049.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**132072.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**118049.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**132072.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**250121.00** | Aggregate amount beneficially owned by each reporting person<br>**250121.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.3%** | Percent of class represented by amount in Row (11)<br>**8.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Includes 92,072 shares held directly by Balmoral Financial Group LLC ("Balmoral") and 40,000 shares held directly by Key Recovery Group LLC ("Key").

Mr. Friedberg serves as the manager of Balmoral and the manager of Key.

Calculated based on 3,034,416 shares of Common Stock outstanding as of July 2, 2025.

| **CUSIP No.** | **171126204** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Balmoral Financial Group LLC** | Name of reporting person<br>**Balmoral Financial Group LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**92072.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**92072.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**92072.00** | Aggregate amount beneficially owned by each reporting person<br>**92072.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.1%** | Percent of class represented by amount in Row (11)<br>**3.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Mr. Friedberg serves as the manager of Balmoral.

Calculated based on 3,034,416 shares of Common Stock outstanding as of July 2, 2025.

| **CUSIP No.** | **171126204** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Key Recovery Group LLC** | Name of reporting person<br>**Key Recovery Group LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**MARYLAND** | Citizenship or place of organization<br>**MARYLAND** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**40000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**40000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**40000.00** | Aggregate amount beneficially owned by each reporting person<br>**40000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.3%** | Percent of class represented by amount in Row (11)<br>**1.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Mr. Friedberg serves as the manager of Key.

Calculated based on 3,034,416 shares of Common Stock outstanding as of July 2, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
Pelthos Therapeutics Inc.

**(c) Address of Issuer's Principal Executive Offices:**
4020 Stirrup Creek Drive, Durham, NC, 27703

This Amendment No. 1 to Schedule 13D (this "Amendment No. 1") relating to the shares of common stock, par value $0.001 per share ("Common Stock"), of Pelthos Therapeutics Inc., a Nevada corporation (the "Issuer"), amends and supplements the Schedule 13D (the "Schedule 13D") originally filed by the Reporting Persons with the Securities and Exchange Commission (the "Commission") on February 26, 2024.

The numbers reported herein have been adjusted to reflect the 1-for-10 reverse stock split effected by the Issuer on July 1, 2025.

Except as specifically amended below, all other provisions of the Schedule 13D remain in effect. Capitalized terms used herein but not defined herein have the respective meanings ascribed to them in the Schedule 13D.

**Item 4. Purpose of Transaction**

"Item 4: Purpose of Transaction" is not being amended by this Amendment No. 1.

**Item 5. Interest in Securities of the Issuer**

**(a)**
"Item 5: Interest in Securities of the Issuer" is not being amended by this Amendment No. 1.

**(b)**
—

**(c)**
—

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

"Item 6. Is being amended by this Amendment No. 1 to add the following:

Registration Rights Agreement

As contemplated by the Purchase Agreement, on July 1, 2025, the Issuer and each of Balmoral, Key and the other investors in the PIPE Financing (the "PIPE Investors") entered into a registration rights agreement (the "Registration Rights Agreement"). Pursuant to the Registration Rights Agreement, among other things, the Issuer agreed to register for resale certain shares of its Common Stock and Series A Preferred Stock held by such investors from time to time, including shares issued in the Merger and in the PIPE Financing. Pursuant to the Registration Rights Agreement, the Issuer will prepare and file a resale registration statement with the SEC on or prior to the later of (i) thirty (30) days following the closing of the PIPE Financing and (ii) fifteen (15) calendar days after the due date of the next periodic report required pursuant to Section 13 of the Exchange Act. The Issuer will use its reasonable best efforts to cause this registration statement to be declared effective by the SEC within 120 calendar days of the closing of the PIPE Financing (or within 150 calendar days if the SEC reviews the registration statement). The foregoing description of the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by the full text of such agreement, a copy of which is filed hereto as Exhibit 7 and is incorporated herein by reference.

Lock-Up Agreement

In connection with the closing of the Merger and the PIPE Financing, the Issuer entered into Lock-Up Agreements with certain of its stockholders, directors and executive officers, including Ligand, pursuant to which such parties have agreed not to, except in limited circumstances, offer, pledge, sell, contract to sell, sell any option to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of the Issuer's Common Stock or Series A Preferred Stock, from the closing of the Merger until December 31, 2025, subject to certain exceptions. The foregoing description of the Lock-Up Agreement does not purport to be complete and is qualified in its entirety by the full text of such agreement, a copy of which is filed hereto as Exhibit 8 and is incorporated herein by reference.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ezra Friedberg

**Signature:** /s/ Ezra Friedberg

**Name/Title:** Ezra Friedberg

**Date:** 07/01/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Balmoral Financial Group LLC

**Signature:** /s/ Ezra Friedberg

**Name/Title:** Ezra Friedberg

**Date:** 07/01/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Key Recovery Group LLC

**Signature:** /s/ Ezra Friedberg

**Name/Title:** Ezra Friedberg, Manager

**Date:** 07/01/2025