Pelthos Therapeutics Inc. · AMEX:PTHS
Pelthos Therapeutics — Investor Presentation (March 2026)
28 slides from Pelthos Therapeutics's investor presentation, Mar 19, 2026
Slide 1: Corporate Presentation March 2026
1 Corporate Presentation M A R C H 2 0 2 6 Exhibit 99.2
Slide 2: Legal Disclaimer
2 Legal Disclaimer This presentation of Pelthos Therapeutics Inc. (“we”, “us”, “our” or the “Company”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “anticipate,” “believe,” “continue,” “could,” “esti
Slide 3: Investment Highlight and Product Portfolio
33 • Large addressable market with $2,008.50 wholesale acquisition cost (”WAC”) • Launched July 2025 • Modest acquisition cost, unencumbered future revenue stream • Expected launch in late 2026 • 6–12 million U.S. cases annually • Expected launch during the first half of 2027 Investment Highlight
Slide 4: Corporate Profile
4 Corporate Profile Key Data Points (as of 03/16/26, except where noted) Ticker PTHS Stock Price $24.00 O/S Shares of Common Stock (on an as converted basis) 8.9M Market CAP ~$215M Avg. Daily Trading Volume 11,900 shares (Yahoo) Cash at end of 2025 $18.0M (not including $30.0M in term notes issued i
Slide 5: Management Team
5 Management Team Frank Knuettel | Chief Financial Officer Sai Rangarao | Chief Commercial Officer Scott Plesha | Chief Executive Officer • 30 years of management experience in growing early-stage companies • Raised more than $400 million via venture, public equity and debt offerings and managed mor
Slide 6: Molluscum & Zelsuvmi Overview
Molluscum & Zelsuvmi Overview
Slide 7: Molluscum Contagiosum
7 Molluscum Contagiosum A highly infectious viral condition primarily affecting children 1 year of age or older There are four known types of MC virus (MCV1, 2, 3, 4) with MCV1 being the most common1 Molluscum Contagiosum is caused by a pox virus and is characterized by small, round, firm, umbilicat
Slide 8: Zelsuvmi Has the Potential to Shift MC Treatment Paradigm
8 Zelsuvmi Has the Potential to Shift MC Treatment Paradigm Previous Treatment Options • Painful, destructive treatments3 • Attractive safety profile demonstrated in clinical trials with no / minimal scarring5,6 • Remaining treatment options such as off-label drugs / natural remedies have unproven e
Slide 9: Zelsuvmi Efficacy Shown in Phase 3 Clinical Trials
9 InterventionPopulation Key Study Highlights B-SIMPLE4 Primary OutcomeB-SIMPLE4 Study Locations 1) p-value <0.0001, favoring Zelsuvmi .. Source: Sugarman JL, Hebert A, Browning JC, Paller AS, Stripling S, Green LJ, Cartwright M, Enloe C, Wells N, Maeda-Chubachi T. Berdazimer gel for molluscum conta
Slide 10: Phase 3 Trial Results
10CONFIDENTIAL Baseline Week 2 Week 4 0.0% -1.1 % -43.5% Week 8 -35.7% Week 12 -59.4% -82.4% -42.6% -10.7% - 25 .1% -9.0% -21 .6% - 58 .1% Baseline Week 2 Week 4 0.0% 0.0% -9.5% -10.0% -28.6% -27.8% Week 8 Week 12 Phase 3 Trial Results 1) Figure 9: Browning JC, Hebert A, Enloe C, Cartwright M, Maeda
Slide 11: Zelsuvmi Commercial Overview
Zelsuvmi Commercial Overview
Slide 12: Strong Quarter over Quarter Growth during Zelsuvmi Launch
1212 Data Source: Symphony Health- Metys Data Strong Quarter over Quarter Growth during Zelsuvmi Launch Total of 2,712 Unique Prescribers in Q3 & Q4 2025 2,716 6,232 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q3-2025 Q4-2025 Zelsuvmi TRx Units 1,169 2,174 0 500 1000 1500 2000 2500 Q3-2025 Q4-2025 Z
Slide 13: Zelsuvmi Covered Lives by Quarter
1313 Zelsuvmi Covered Lives by Quarter* 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Commercial Medicaid Q3 2025 Q4 2025 Q1 2026 (Feb) 99% 59% • Selective contracting strategy • 70% combined Medicaid/commercial coverage with 1 contract • Favorable Gross to Nets • Favo
Slide 14: Sales Team Expansion Complete
1414 Sales Team Expansion Complete Fully built out commercial team: • 64 Sales Territories Expansion completed & onboarded ~53% of MC Claims • Expanded territories include sizable markets: Seattle, Las Vegas, San Francisco, Salt Lake, etc. • Sales Team targeting: Pediatric/Adult Dermatologists, Gene
Slide 15: Robust Zelsuvmi Tactical Execution
15 Robust Zelsuvmi Tactical Execution Digital Marketing National & Regional Conference Presence YouTube Promotional Commercial Live & Virtual Educational Speaker Development New Patient Testimonials & Information ZELSUVMI GO Patient Support Program
Slide 16: Xepi: New Product Acquisition
Xepi: New Product Acquisition
Slide 17: Xepi (ozenoxacin) Cream for the treatment of Impetigo
17 Xepi (ozenoxacin) Cream for the treatment of Impetigo Sources: CDC Website, Xepi Pack Insert, FDA.gov • Ozenoxacin cream 1% developed as first line treatment in patients aged 2 months and older • 15 clinical studies in Phase 1 & 2 conducted • Two Pivotal Phase 3 studies conducted in both adult &
Slide 18: Xeglyze: New Product Acquisition
Xeglyze: New Product Acquisition
Slide 19: Xeglyze (abametapir) Lotion for the Treatment of Head Lice
19 Xeglyze (abametapir) Lotion for the Treatment of Head Lice Sources: CDC Website, Xepi Pack Insert, FDA.gov • Abametapir lotion 0.74% developed as first line treatment in patients aged 6 months of age and older • Phase 2b study completed in 2014 demonstrated 100% ovicidal efficacy • Two Pivotal Ph
Slide 20: Summary Financial Statements
Summary Financial Statements
Slide 21: Summary Balance Sheet
2121 Summary Balance Sheet • Cash balance does not include $30 million raised in January 2026 with issuance of 5-year term notes; additional $20 million available on hitting certain milestones • Strong stockholder equity position and cash balance provide resources to execute on our business plan • A
Slide 22: Summary Income Statement
2222 Summary Income Statement • Revenue increased 28% quarter over quarter • SG&A expenses declined 5% quarter over quarter and operating loss improved • Adjusted EBITDA loss – removing non-cash, royalties and one-time items – improved 22% quarter over quarter • Expect personnel expenses to rise app
Slide 23: Appendix
Appendix MP Pelthos
Slide 24: Nitricil Platform Pipeline
24 Nitricil Platform Pipeline* Asset Description Asset Description Approximate Time to NDA Filing Market Potential SB414 (AD/Psoriasis) Berdazimer topical cream, dose TBD, for treatment of mild to moderate atopic dermatitis. Phase 1/2 Clinical stage. 7.5 years $$$ (AD) $$ (Psoriasis) SB208 (Tinea Pe
Slide 25: NaV1.7 Pipeline
25 NaV1.7 Pipeline Product/ Indication Asset Description Approximate Time to NDA Filing Market Potential CT2000 Eye Drops Chronic Ocular Pain CC8464 1%, 1.25% and 1.5% ophthalmic solution Phase 1-2a ready 3-4 years $8 billion globally CT2000 Eye Drops Acute Ocular Pain CC8464 1%, 1.25% and 1.5% opht
Slide 26: Board of Directors
26 Board of Directors Peter Greenleaf, Chairman Richard Baxter Ezra Friedberg Todd Davis Richard Malamut , MD Matt Pauls Scott Plesha Andrew Einhorn
Slide 27: Operating Leverage and Portfolio Strengths
27 Operating Leverage All three products utilize the same sales team, with largely overlapping call points, provides greater operating and financial leverage with very little dedicated overhead Portfolio of FDA Approved Products Differentiated portfolio of novel, cutaneous infectious disease product
Slide 28: Thank You
28 Thank You C o n t a c t s I n v e s t o r I n q u i r i e s : M i k e M o y e r L i f e S c i A d v i s o r s , L L C M a n a g i n g D i r e c t o r m m o y e r @ l i f e s c i a d v i s o r s . c o m M e d i a : K W M C o m m u n i c a t i o n s K e l l i e W a l s h / R a c h e l K e s s l e r
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