Business
Pelthos Therapeutics Completes Merger with Channel Therapeutics and Closes $50.1 Million Private Placement
The combined company plans to launch ZELSUVMI™ for the treatment of molluscum contagiosum infections in July 2025 Concurrent with the closing of the merger, the combined company closed on a $50.1 million equity private placement Combined company will operate under the name “Pelthos Therapeutics Inc.” and will trade on the NYSE American exchange under the ticker symbol “PTHS” starting on July 2, 2025 DURHAM, N.C., July 02, 2025 (GLOBE NEWSWIRE) -- Pelthos Therapeutics Inc., a biopharmaceutical co
About this update from Pelthos Therapeutics Inc.
[{"type":"image","alt":"Channel Therapeutics Corporation","displaySize":"","headline":null,"caption":"Channel Therapeutics Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":179,"url":"https://media.zenfs.com/en/globenewswire.com/f94dd4c648565b20de109cac2516c355"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/yWW833l91CiuD7s17uRPhw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI1MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/f94dd4c648565b20de109cac2516c355","width":300,"height":179}},"lazy":false},{"type":"text","content":"The combined company plans to launch ZELSUVMI™ for the treatment of molluscum contagiosum infections in July 2025","length":113,"tagName":"p"},{"type":"text","content":"Concurrent with the closing of the merger, the combined company closed on a $50.1 million equity private placement","length":114,"tagName":"p"},{"type":"text","content":"Combined company will operate under the name “Pelthos Therapeutics Inc.” and will trade on the NYSE American exchange under the ticker symbol “PTHS” starting on July 2, 2025","length":173,"tagName":"p"},{"type":"text","content":"DURHAM, N.C., July 02, 2025 (GLOBE NEWSWIRE) -- Pelthos Therapeutics Inc., a biopharmaceutical company committed to commercializing innovative therapeutic products for high unmet patient needs, today announced the closing of the previously announced merger agreement pursuant to which CHRO Merger Sub Inc. (“Merger Sub”), a wholly owned subsidiary of Channel Therapeutics Corporation (“Channel”), merged with and into LNHC, Inc. (“LNHC”), a wholly owned subsidiary of Ligand Pharmaceuticals Incorporated (“Ligand”) (Nasdaq: LGND), with LNHC surviving as a wholly owned subsidiary of Channel (the “Merger”). The combined company will operate under the name Pelthos Therapeutics Inc. (“Pelthos” or the “Company”), and its shares will trade on the NYSE American exchange starting on July 2, 2025 under the new ticker symbol “PTHS”.","length":828,"tagName":"p"},{"type":"text","content":"“This Merger represents a significant milestone for Pelthos, taking us closer to the launch of ZELSUVMI™ and enabling us to deliver this innovative product to the patients who need it. We are excited to begin this new chapter as a publicly traded company and to create value for our shareholders,” said Scott Plesha, the CEO of the Company following the Merger."...