Pelthos Therapeutics Inc.
PTHS evidence brief
What we can confirm
- BioSniper Score:
- 5.9 / 10
- Market Cap:
- $83.8M
- Lead Asset:
- cc8464 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for PTHS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · PTHS
Pelthos Therapeutics Inc. (PTHS) is a commercial-stage biopharmaceutical company focused on dermatological and pain therapeutics, with four approved products and a pipeline of NaV1.7-targeted pain candidates.
Key risk: Negative shareholders' equity
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 6 pipeline candidates · 3 catalysts for Pelthos Therapeutics Inc..
Pelthos Therapeutics Inc. (PTHS) is a commercial-stage biopharmaceutical company focused on dermatological and pain therapeutics, with four approved products and a pipeline of NaV1.7-targeted pain candidates.
- Cash & equivalents of $24.2M as of 2026-06-30 [sec].
- Total revenue of $15.6M and net income of -$23.4M as of 2026-06-30 [sec].
- Lead product ZELSUVMI (berdazimer) topical gel, 10.3% is FDA-approved for molluscum contagiosum and generated $15.4M in Q2 2026 net product revenue [news · 2026-08-13].
- Pipeline includes two Phase 1 NaV1.7 blockers (cc8464 for neuropathic pain, ct2000 for eye pain) and one preclinical NaV1.7 inhibitor (ct3000 for post-operative pain) [pipeline].
- Formulary coverage for ZELSUVMI expanded to 127 million commercially covered lives as of October 2026 [news · 2026-10-06].
What works
- ZELSUVMI revenue grew 45% quarter-over-quarter to $15.4M in Q2 2026, with 11,925 units dispensed by 4,571 unique prescribers [news · 2026-08-13].
- Formulary coverage for ZELSUVMI reached 127 million commercially covered lives, including a major PBM adding 24 million lives [news · 2026-10-06].
- The company has four FDA-approved products (ZELSUVMI, XEPI, XEGLYZE, and one other) providing a diversified commercial portfolio [pipeline].
- A $50M senior secured term loan facility from Horizon Technology Finance provides minimally dilutive funding to support commercialization [news · 2026-01-13].
What to weigh
- Net income was -$23.4M as of 2026-06-30, indicating ongoing operating losses [sec].
- Shareholders' equity was -$1.5M as of 2026-06-30, reflecting negative equity [sec].
- The pipeline pain candidates (cc8464, ct2000, ct3000) are early-stage (Phase 1 or preclinical) with no approved pain products yet [pipeline].
- XEGLYZE (abametapir) faces a competitive landscape with 28 competitors, including multiple Phase 3 entrants [pipeline].
From the filings
Quoted directly from source documents.
ZELSUVMI Q2 2026 revenue growth
“Zelsuvmi® net product revenue grew 45% to $15.4 million during the second quarter of 2026 from $10.7 million in the first quarter of 2026”
News · August 13, 2026
Formulary coverage expansion for ZELSUVMI
“Formulary coverage for ZELSUVMI increases to 127 million commercially covered lives”
News · October 6, 2026
Pipeline candidate cc8464 indication and phase
“Pipeline Candidate: cc8464 Indication: Neuropathic pain, specifically Erythromelalgia (EM) and idiopathic small fiber neuropathy (iSFN) Phase: Phase 1”
Catalyst timeline
- 2032-01-29 · Patent_Expiry · OZENOXACIN — Patent expiry for NDA208945; may open market to generic competition.
- 2034-12-17 · Patent_Expiry · ABAMETAPIR — Patent expiry for NDA206966; may open market to generic competition.
- 2035-07-10 · Patent_Expiry · BERDAZIMER SODIUM — Patent expiry for NDA217424; may open market to generic competition.
Risks & what to watch (4)›
Key risks
- Negative shareholders' equity — Shareholders' equity of -$1.5M as of 2026-06-30 indicates liabilities exceed assets [sec].
- Operating losses persist — Net income of -$23.4M as of 2026-06-30 shows ongoing net losses [sec].
- Early-stage pipeline — Pain pipeline candidates are Phase 1 or preclinical, with no approved pain products yet [pipeline].
- Competitive pressure on XEGLYZE — XEGLYZE faces 28 competitors, including multiple Phase 3 entrants [pipeline].
What to watch
- ZELSUVMI revenue trajectory and prescription growth in upcoming quarters [news · 2026-08-13].
- Progress of Phase 1 NaV1.7 pain candidates cc8464 and ct2000 through clinical development [pipeline].
- Ability to manage debt service on the $50M term loan facility from Horizon Technology Finance [news · 2026-01-13].
- Patent expirations for OZENOXACIN (2032-01-29), ABAMETAPIR (2034-12-17), and BERDAZIMER SODIUM (2035-07-10) [catalyst].
Sources: News · Pipeline · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$23M
Lead: Approved
6 candidates
3 upcoming, next in ~1933d
2 buys · 9 sells (180d)
Catalysts
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
17
Total value held
$19.2M
| Holder | Shares | Value |
|---|---|---|
| murchinson ltd. | 296,314 | $6.2M |
| ikarian capital, llc | 256,598 | $5.4M |
| vanguard capital management llc | 93,093 | $2.0M |
| boothbay fund management, llc | 81,858 | $1.7M |
| j. goldman & co lp | 50,415 | $1.1M |
| cantor fitzgerald, l. p. | 41,423 | $870K |
| diadema partners lp | 24,773 | $520K |
| knott david m jr | 21,073 | $443K |
| geode capital management, llc | 15,290 | $321K |
| pale fire capital se | 12,919 | $271K |
Showing top 10 of 17 institutional holders of Pelthos Therapeutics Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 2.9%
- Days to cover
- 4.7
- Shares short
- 45,956
- Daily short volume (Jun 26, 2026)
- 83.2%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
PTHS short interestGovernance
Frequently asked questions
What is the AI investment thesis for Pelthos Therapeutics Inc.?
Pelthos Therapeutics Inc. (PTHS) is a commercial-stage biopharmaceutical company focused on dermatological and pain therapeutics, with four approved products and a pipeline of NaV1.7-targeted pain candidates.
What is Pelthos Therapeutics Inc.'s lead drug candidate?
Pelthos Therapeutics Inc.'s most advanced tracked candidate is cc8464 (Phase 1) for Neuropathic pain, specifically Erythromelalgia (EM) and idiopathic small fiber neuropathy (iSFN).
What is Pelthos Therapeutics Inc.'s next catalyst?
Pelthos Therapeutics Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA208945" — expected January 29, 2032.
Who is the CEO of Pelthos Therapeutics Inc.?
Mr. Scott M. Plesha is the chief executive officer of Pelthos Therapeutics Inc. (PTHS).
Where is Pelthos Therapeutics Inc. headquartered?
Pelthos Therapeutics Inc. (PTHS) is headquartered in Durham, NC, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.