Pelthos Therapeutics Completes Merger and $50.1 Million Placement

Pelthos Therapeutics Inc., a biopharmaceutical firm focused on creating novel treatments for unmet medical needs, has achieved a significant milestone by completing its merger with Channel Therapeutics Corporation. The merger involved CHRO Merger Sub Inc., which became part of LNHC, Inc., a subsidiary of Ligand Pharmaceuticals. As a result, Pelthos will operate under a new guise and begin trading on the NYSE under the ticker PTHS by July 2, 2025. In tandem with the merger, Pelthos successfully closed a $50.1 million equity private placement led by Murchinson Ltd. This capital infusion will bolster the commercial launch of ZELSUVMI, a groundbreaking topical gel for molluscum contagiosum infections, planned for July 2025. ZELSUVMI is a uniquely FDA-designated drug that can be applied at home and addresses patient needs for both adults and pediatric patients. Pelthos also continues to explore its NaV 1.7 development initiatives targeting pain management. Key figures, Scott Plesha and Frank Knuettel II, emphasized the merger's role in fostering growth and innovative drug launches, supported by a team of experienced professionals and strategic partners, including legal and financial advisors.