Pelthos Therapeutics

What Pelthos Therapeutics does

Pelthos Therapeutics Inc. is a commercial-stage biopharmaceutical company headquartered in Durham, North Carolina, that commercializes FDA-approved prescription therapies for unmet needs in pediatric cutaneous infectious diseases. The company was formed through a July 2025 merger between Channel Therapeutics Corporation and the private Pelthos Therapeutics entity, accompanied by a $50.1 million private placement, and now trades on the NYSE American exchange under ticker PTHS. The lead commercial product is ZELSUVMI (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home prescription treatment for molluscum contagiosum, which was commercially launched in July 2025 and generated $10.7 million in net product revenue in Q1 2026. The portfolio is being expanded through two acquisitions completed in late 2025 and early 2026: XEPI (ozenoxacin) Cream 1% for impetigo, with U.S. rights acquired from Biofrontera and Ferrer for up to $10 million; and XEGLYZE (abametapir) for head lice, with worldwide rights acquired from Hatchtech Pty Ltd. for $1.8 million. Both are planned for commercial relaunch in 2027. The company also operates a pain therapeutics pipeline through its Channel Therapeutics subsidiary, including CT2000, a NaV1.7 sodium ion-channel inhibitor in Phase 1b/2a trials for chronic ocular pain associated with dry eye disease.\n\nPelthos monetizes primarily through prescription pharmaceutical product sales, supplemented by modest licensing and collaboration revenue ($589,000 in 2025). The company employs a direct U.S. field sales force that expanded from 50 territory managers at the end of Q4 2025 to 64 territory managers by the end of Q1 2026, targeting pediatricians, dermatologists, and other healthcare providers. Consumer-facing marketing includes the Moms Against Molluscum awareness campaign aimed at parents and caregivers. Underlying the lead product is the proprietary NITRICIL nitric oxide-releasing technology platform, protected by at least 14 issued US patents and a registered trademark, which stores and time-releases gaseous nitric oxide on large polymers with tunable dosing. Ligand Pharmaceuticals, which originally acquired ZELSUVMI in September 2023 and divested it through the LNHC spin-out, retains a 13% royalty on worldwide ZELSUVMI sales and maintains a board seat.\n\nThe company's customer base spans 4,867 cumulative unique prescribers since the July 2025 launch through Q1 2026, with 3,228 active in Q1 2026 alone, producing a highly distributed prescriber mix concentrated in pediatrics and dermatology. End customers are parents and caregivers of children under 14 affected by molluscum contagiosum and the planned adjacent indications. The market opportunity is large and largely untapped: an estimated 16 million people in the U.S. are affected by molluscum contagiosum with 6 million new cases annually, 3 million annual U.S. impetigo cases, and 6-12 million annual head lice infestations among children. Management is targeting $175 million in annual ZELSUVMI revenue by 2028, and the broader pipeline targets a $5.3 billion global chronic ocular pain market by 2032. The company has raised approximately $118 million since July 2025 across private placement, convertible notes, and debt facilities, and held $32 million in cash as of March 31, 2026.

Name

Pelthos Therapeutics

Legal name

Pelthos Therapeutics Inc.

Website

https://pelthos.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

51–100 employees

Short description

Pelthos Therapeutics is a commercial-stage biopharmaceutical company commercializing FDA-approved prescription therapies for unmet needs in pediatric cutaneous infectious diseases, led by ZELSUVMI for molluscum contagiosum, with planned XEPI and XEGLYZE launches and a CT2000 pipeline for ocular pain.

Ownership category

akta.pro rank

Product category

Dermatology Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Infectious Disease & Antimicrobials Pharmaceuticals (HLAIAAAG)

akta.pro secondary industries

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA), Infectious Disease Specialty Pharmaceuticals (Non-vaccine) (HLAIACAM)

Keywords

• Prescription dermatology therapeutics
• Topical pharmaceutical products
• Pediatric skin infection treatments
• Molluscum contagiosum therapy
• Cutaneous infectious disease drugs

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Supply Chain

Revenue model

1. Net Product Revenue: Pelthos generates revenue primarily through the sale of prescription pharmaceutical products. ZELSUVMI net product revenue was $10.7 million in Q1 2026, up 17% quarter-over-quarter from $9.1 million in Q4 2025. Total ZELSUVMI net product revenue from July 2025 launch through March 2026 was $26.9 million. Full-year 2025 total revenue was $16.8 million including licensing revenue.
2. Licensing and Collaboration Revenue: Revenue generated from licensing arrangements, including collaboration revenues. Q1 2026 license and collaboration revenue was $241,000. Q4 2025 license and collaboration revenue was $295,000. Total 2025 licensing revenue was $589,000.
3. Royalty Income: Ligand Pharmaceuticals retains a 13% royalty on worldwide ZELSUVMI sales following the Pelthos Transaction divestiture of LNHC Inc.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Pelthos Therapeutics commercializes FDA-approved prescription topical therapies for cutaneous infectious diseases, led by ZELSUVMI (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home prescription treatment for molluscum contagiosum. The portfolio is being expanded with XEPI (ozenoxacin) Cream for impetigo and XEGLYZE (abametapir) for head lice, while a pipeline asset CT2000 targets ocular pain. The company leverages its proprietary NITRICIL nitric oxide-releasing technology platform and NaV1.7 sodium ion-channel inhibitor programs for product development.

Product overview

Pelthos Therapeutics is a commercial-stage biopharmaceutical company building a portfolio of differentiated cutaneous infectious disease products. The company's lead commercial product is ZELSUVMI (berdazimer) topical gel, 10.3%, the first FDA-approved at-home prescription treatment for molluscum contagiosum. The portfolio was expanded through acquisitions of XEPI (ozenoxacin) Cream for impetigo and XEGLYZE (abametapir) for head lice, both primarily targeting pediatric populations. The company also operates a pipeline through its Channel Therapeutics subsidiary, including CT2000 for eye pain, and leverages the proprietary NITRICIL nitric oxide-based technology platform for drug development.

Differentiator

Problem solved

Functional benefit

Brands

• Moms Against Molluscum: Movement launched to support families affected by molluscum contagiosum and promote awareness of treatment options including ZELSUVMI

Products and services

• ZELSUVMI (berdazimer) topical gel, 10.3% FDA-approved prescription topical gel for the treatment of molluscum contagiosum, a common contagious skin infection primarily affecting children under 14. It is the first and only prescription therapy approved for at-home use by patients, parents, and caregivers.
• XEPI (ozenoxacin) Cream, 1% A quinolone antimicrobial indicated for the topical treatment of impetigo due to Staphylococcus aureus or Streptococcus pyogenes in adult and pediatric patients 2 months of age and older.
• XEGLYZE (abametapir) A pediculicide indicated for the topical treatment of head lice infestation in patients 6 months of age and older. FDA-approved in July 2020, requiring only a single 10-minute application.
• CT2000 A novel ophthalmic formulation targeting the NaV1.7 sodium ion-channel for the treatment of both acute ocular pain and chronic ocular surface pain commonly associated with dry eye disease, currently in Phase 1b/2a clinical trial.

Quantifiable outcome

• ZELSUVMI revenue grew 17% quarter-over-quarter from $9.1M (Q4 2025) to $10.7M (Q1 2026)
• +5 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Hatchtech Pty LtdcoreOEM/ Whitelabel/ Licensing Partner · 1 January 2026Pelthos acquired worldwide commercialization rights for Xeglyze (abametapir) from Australian biotech company Hatchtech Pty Ltd. for $1.8 million. XEGLYZE is an FDA-approved prescription medication for head lice treatment requiring only a single 10-minute application. No future milestone, royalty, or other payments are owed to Hatchtech. Pelthos plans to relaunch XEGLYZE in the first half of 2027.
• Biofrontera Inc.coreOEM/ Whitelabel/ Licensing Partner · 1 November 2025Pelthos acquired the U.S. rights to Xepi (ozenoxacin) Cream, 1% from Biofrontera Inc. and Ferrer Internacional S.A. for up to $10 million ($3 million at closing and up to $6 million in milestone payments). XEPI is a topical treatment for impetigo, a bacterial skin infection. Pelthos plans to relaunch XEPI in early 2027.
• Ferrer Internacional S.A.coreOEM/ Whitelabel/ Licensing Partner · 1 November 2025Ferrer Internacional S.A. co-licenses Xepi (ozenoxacin) Cream, 1% to Pelthos Therapeutics for the U.S. market. XEPI is a quinolone antimicrobial indicated for topical treatment of impetigo due to Staphylococcus aureus or Streptococcus pyogenes in adult and pediatric patients 2 months of age and older.
• Channel Therapeutics CorporationcoreStrategic or Co-development Partner · 1 July 2025Pelthos Therapeutics completed a merger with Channel Therapeutics Corporation, transforming from a clinical-stage pain research company into a combined dermatology and pain therapeutics business. The merger brought together Channel's NaV1.7 sodium channel pain research platform and CT2000 eye pain program with Pelthos's commercial dermatology products. The combined entity operates under the Pelthos Therapeutics name and trades on NYSE American.

Scale indicators21 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Galderma Laboratories: Galderma is the largest pure-play dermatology company globally, commercializing a broad portfolio of prescription and consumer skin products across the same pediatric and adult dermatology call points. It competes broadly in the dermatology space but is not a small/mid-cap pure-play like Pelthos.

Emerging players

• Novan Inc. Novan previously operated the NITRICIL/sodium nitrite-based nitric oxide technology platform that underlies Pelthos's NITRICIL platform; multiple Pelthos executives (CTO Carri Geer, SVP Manufacturing Melvin Whitehead) came from Novan. It is a thematic/technology comparable rather than a direct commercial competitor.
• Collegium Pharmaceutical: Collegium is a specialty pharma focused on pain and CNS; it acquired BioDelivery Sciences (BDSI), where Pelthos CEO Scott Plesha and CCO Sai Rangarao previously built commercial specialty franchises. Collegium also signals the pain-specialty opportunity relevant to Pelthos's CT2000 NaV1.7 program.

Direct peers

• Verrica Pharmaceuticals: Verrica is the closest direct peer: a commercial-stage dermatology specialty pharma with YCANTH (cantharidin), the other FDA-approved prescription therapy for molluscum contagiosum. Both companies compete head-to-head for the same pediatric dermatologist/pediatrician call point and the same molluscum patient population.
• Arcutis Biotherapeutics: Arcutis is a commercial-stage dermatology specialty pharma developing and commercializing prescription treatments for inflammatory and infectious skin conditions across the U.S. via a focused sales force, closely mirroring Pelthos's commercial dermatology franchise model.
• Aclaris Therapeutics: Aclaris is a clinical/commercial-stage dermatology biopharma developing prescription therapies for skin conditions including infectious and inflammatory indications, serving a similar prescriber base and operating under a similar small-cap specialty pharma model.

Others

• Ligand Pharmaceuticals: Ligand is Pelthos's royalty partner (13% on worldwide ZELSUVMI sales) and significant shareholder; it operates a royalty-financing business model similar in shape to Pelthos's mixed commercial-plus-royalty model, and CEO Todd Davis sits on Pelthos's board.
• Biofrontera Inc. Biofrontera is the company from which Pelthos acquired U.S. rights to XEPI (ozenoxacin) for impetigo; it remains a small-cap dermatology pharma commercializing prescription topical products in adjacent physician channels and is a meaningful counterpart for Pelthos's product-acquisition strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PelthosT

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pelthos Therapeutics