• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Pelthos Therapeutics Completes Merger with Channel Therapeutics and Closes $50.1 Million Private Placement

    7/2/25 7:00:00 AM ET
    $CHRO
    $LGND
    Biotechnology: Biological Products (No Diagnostic Substances)
    Health Care
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $CHRO alert in real time by email

    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 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".

    "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.

    Concurrent with the Merger, Pelthos closed on a $50.1 million private placement from a group of strategic investors led by Murchinson Ltd. ("Investors"). The capital is being invested into Pelthos' shares of Series A Convertible Preferred Stock, par value $0.0001 per share (the "Series A Preferred Stock") and common stock, par value $0.01, and includes cancellation of approximately $18.8 million in bridge capital that has been advanced to Pelthos by certain of the private placement Investors since the beginning of 2025 to support the commercial launch of ZELSUVMI™.

    Pelthos will initially focus on the launch and commercialization of ZELSUVMI™ (berdazimer) topical gel, 10.3%, for the treatment of molluscum contagiosum infections ("molluscum") in adults and pediatric patients one year of age and older.1 ZELSUVMI™ is an FDA-designated novel drug and the first and only prescription medication approved for the treatment of molluscum that can be administered at home by parents, patients, and caregivers. Molluscum is a poxvirus and one of the most common skin infections seen by dermatologists, pediatric dermatologists, and pediatricians, afflicting an estimated 16.7 million people in the United States.2,3

    Additionally, Pelthos is continuing to evaluate the path forward for its existing NaV 1.7 development programs for the treatment of various types of chronic pain, acute and chronic eye pain, and post-surgical nerve blocks.

    Frank Knuettel II, former CEO of Channel Therapeutics Corporation and the newly appointed CFO of Pelthos, added, "I am pleased to have completed the Merger on behalf of Channel's shareholders, and I am delighted to join the high-caliber team at Pelthos to help guide the launch of ZELSUVMI™. The management team has extensive experience in successfully launching new therapies, and I believe this transaction will position Pelthos for future growth."

    A.G.P. / Alliance Global Partners served as financial advisor to Channel. Sullivan & Worcester LLP served as Channel's legal counsel and Latham & Watkins LLP served as lead counsel to Ligand. Kelley Drye & Warren LLP and Morgan, Lewis and Bockius LLP represented Murchinson Ltd.

    About ZELSUVMI™ (berdazimer) topical gel, 10.3%

    ZELSUVMI™ (berdazimer) topical gel, 10.3% is a nitric oxide (NO) releasing agent indicated for the topical treatment of molluscum contagiosum in adults and pediatric patients one year of age and older. ZELSUVMI™ received a novel drug designation from the U.S. Food and Drug Administration in 2024 and is the first and only approved topical prescription medication that can be applied by patients, parents, or caregivers at home, outside of a physician's office, or other medical setting to treat this highly contagious viral skin infection. The product was developed using Pelthos' proprietary nitric oxide-based technology platform, NITRICIL™. Complete prescribing information and important safety information is available at www.zelsuvmi.com.

    About Pelthos Therapeutics

    Pelthos Therapeutics is a biopharmaceutical company committed to commercializing innovative, safe, and efficacious therapeutic products to help patients with unmet treatment burdens. The company's lead product ZELSUVMI™ (berdazimer) topical gel, 10.3%, for the treatment of molluscum contagiosum, was approved by the U.S. Food and Drug Administration in 2024. More information is available at www.pelthos.com. Follow Pelthos on LinkedIn and X.

    Forward-Looking Statements

    This press release contains forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, regarding Pelthos' current expectations. All statements, other than statements of historical fact, could be deemed to be forward-looking statements. In some instances, words such as "plans," "believes," "expects," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our good faith beliefs (or those of the indicated third parties) and speak only as of the date hereof. These forward-looking statements include, without limitation, references to our expectations regarding (i) our belief that investors should feel encouraged that Pelthos has a strong development path towards successfully launching drugs with considerable market opportunities, (ii) the timing of clinical and regulatory events of us and our partners, (iii) the timing of the initiation or completion of preclinical studies and clinical trials by us and our partners; (iv) the timing of product launches, including ZELSUVMI; (v) guidance regarding projected financial results for 2025 and beyond, (vi) the anticipated benefits of the Merger between LNHC and Channel and (vii) the combined company's opportunities, strategy and plans following the Merger. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those set forth in such forward-looking statements include, but are not limited to, risks and uncertainties related to there being no guarantee that the trading price of the combined company's Common Stock will be indicative of the combined company's value or that the combined company's Common Stock will become an attractive investment in the future; we may rely on collaborative partners for milestone payments, royalties, materials revenue, contract payments and other revenue projections and may not receive expected revenue; we and our partners may not be able to timely or successfully advance any product(s) in our internal or partnered pipeline or receive regulatory approval and there may not be a market for the product(s) even if successfully developed and approved; and changes in general economic conditions, including as a result of war, conflict, epidemic diseases, the implementation of tariffs, and ongoing or future litigation could expose us to significant liabilities and have a material adverse effect on us. These and other risks and uncertainties are described more fully in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.

    Contacts

    Pelthos Investor Inquiries:

    Mike Moyer

    Managing Director, LifeSci Advisors, LLC

    [email protected]


    1 Please see ZELSUVMI™ (berdazimer) topical gel full prescribing information available at https://www.fda.gov/drugsatfda for important safety information or www.zelsuvmi.com

    2 US Census Bureau. QuickFacts: United States.2022. https://www.census.gov/quickfacts/fact/table/US/PST045222

    3 Hebert AA, et al. J Clin Aesthet Dermatol. 2023 Aug;16(8 Suppl 1):S4-S11



    Primary Logo

    Get the next $CHRO alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $CHRO
    $LGND

    CompanyDatePrice TargetRatingAnalyst
    Ligand Pharmaceuticals Incorporated
    $LGND
    4/10/2025$143.00Buy
    Stifel
    Ligand Pharmaceuticals Incorporated
    $LGND
    10/3/2024$135.00Outperform
    Oppenheimer
    Ligand Pharmaceuticals Incorporated
    $LGND
    7/30/2024$130.00Outperform
    RBC Capital Mkts
    Ligand Pharmaceuticals Incorporated
    $LGND
    2/22/2022$180.00 → $130.00Buy
    Benchmark
    Ligand Pharmaceuticals Incorporated
    $LGND
    2/18/2022$185.00 → $165.00Overweight
    Barclays
    Ligand Pharmaceuticals Incorporated
    $LGND
    9/22/2021$174.00 → $180.00Overweight
    Barclays
    Ligand Pharmaceuticals Incorporated
    $LGND
    7/30/2021$200.00 → $190.00Buy
    Roth Capital
    More analyst ratings

    $CHRO
    $LGND
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Stifel initiated coverage on Ligand Pharma with a new price target

      Stifel initiated coverage of Ligand Pharma with a rating of Buy and set a new price target of $143.00

      4/10/25 12:42:08 PM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Oppenheimer initiated coverage on Ligand Pharma with a new price target

      Oppenheimer initiated coverage of Ligand Pharma with a rating of Outperform and set a new price target of $135.00

      10/3/24 7:34:05 AM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • RBC Capital Mkts initiated coverage on Ligand Pharma with a new price target

      RBC Capital Mkts initiated coverage of Ligand Pharma with a rating of Outperform and set a new price target of $130.00

      7/30/24 6:24:41 AM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $CHRO
    $LGND
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Kozarich John W sold $116,750 worth of shares (934 units at $125.00), decreasing direct ownership by 2% to 46,456 units (SEC Form 4)

      4 - LIGAND PHARMACEUTICALS INC (0000886163) (Issuer)

      7/11/25 6:17:22 PM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form 4 filed by Director Baxter Richard B

      4 - Pelthos Therapeutics Inc. (0001919246) (Issuer)

      7/7/25 9:47:34 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form 4 filed by Director Greenleaf Peter

      4 - Pelthos Therapeutics Inc. (0001919246) (Issuer)

      7/7/25 9:46:35 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $CHRO
    $LGND
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chief Executive Officer Davis Todd C bought $1,000,456 worth of shares (9,510 units at $105.20), increasing direct ownership by 6% to 161,234 units (SEC Form 4)

      4 - LIGAND PHARMACEUTICALS INC (0000886163) (Issuer)

      5/13/25 8:05:16 PM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Chief Financial Officer Espinoza Octavio bought $156,090 worth of shares (1,500 units at $104.06), increasing direct ownership by 6% to 27,932 units (SEC Form 4)

      4 - LIGAND PHARMACEUTICALS INC (0000886163) (Issuer)

      5/13/25 8:04:05 PM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Director Malamut Richard bought $9,825 worth of shares (10,400 units at $0.94) (SEC Form 4)

      4 - Chromocell Therapeutics Corp (0001919246) (Issuer)

      9/16/24 4:56:55 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $CHRO
    $LGND
    SEC Filings

    See more
    • SEC Form D filed by Channel Therapeutics Corporation

      D - Pelthos Therapeutics Inc. (0001919246) (Filer)

      7/10/25 4:15:20 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form SCHEDULE 13G filed by Channel Therapeutics Corporation

      SCHEDULE 13G - Pelthos Therapeutics Inc. (0001919246) (Subject)

      7/8/25 4:05:35 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Amendment: SEC Form SCHEDULE 13D/A filed by Channel Therapeutics Corporation

      SCHEDULE 13D/A - Pelthos Therapeutics Inc. (0001919246) (Subject)

      7/3/25 9:07:22 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $CHRO
    $LGND
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Ligand Partner Pelthos Therapeutics Launches ZELSUVMI™

      JUPITER, Fla., July 10, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) today announced that its partner Pelthos Therapeutics Inc. (NYSE:PTHS) has commercially launched ZELSUVMI™ (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home treatment for molluscum contagiosum. The Company has earned a $5 million milestone payment from Pelthos following the commercial launch of ZELSUVMI. "Molluscum impacts millions of people in the U.S., particularly children. We are thrilled to see that ZELSUVMI is now commercially available as it addresses a significant unmet need for these patients as the first at-home treatment for this highly contagious viral ski

      7/10/25 8:00:00 AM ET
      $LGND
      $PTHS
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)
    • Pelthos Therapeutics Launches ZELSUVMI™ (berdazimer) Topical Gel 10.3%, the First and Only FDA-Approved At-Home Treatment for Molluscum Contagiosum

      ZELSUVMI is now commercially available via prescription through retail pharmacies, ASPN pharmacy services and for at-home delivery through mail-order pharmaciesOnce-daily topical prescription medication can be applied by patients, parents and caregivers outside of a physician's office, at home or on the goMolluscum contagiosum is a highly contagious viral skin condition that afflicts an estimated 16.7 million people with up to 6 million new incidents per year in the United States, most of them children DURHAM, N.C., July 10, 2025 (GLOBE NEWSWIRE) -- Pelthos Therapeutics Inc. (NYSE:PTHS), a biopharmaceutical company committed to commercializing innovative therapeutic products for high un

      7/10/25 8:00:00 AM ET
      $CHRO
      $PTHS
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • 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 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 Me

      7/2/25 7:00:00 AM ET
      $CHRO
      $LGND
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Biotechnology: Pharmaceutical Preparations

    $CHRO
    $LGND
    Leadership Updates

    Live Leadership Updates

    See more
    • 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 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 Me

      7/2/25 7:00:00 AM ET
      $CHRO
      $LGND
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Biotechnology: Pharmaceutical Preparations
    • Palvella Therapeutics Appoints Matthew E. Korenberg as Chief Financial Officer

      WAYNE, Pa., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Palvella Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no FDA-approved therapies, today announced the appointment of Matthew E. Korenberg as Chief Financial Officer, effective immediately. Mr. Korenberg is a seasoned operational and financial leader with more than 27 years of senior executive experience in biotech companies and healthcare investment banking. Throughout his career, he has focused on capital raising, partnering and licensing deals, acquisitions, as well as overseeing p

      10/17/24 7:30:00 AM ET
      $LFCR
      $LGND
      $PIRS
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • OmniAb Announces Completion of Spin-Off and Business Combination

      Leading Antibody Discovery Technologies Enable Development of Innovative Therapeutics Regular-way Trading of OABI Begins November 2, 2022 on Nasdaq OmniAb, Inc. (NASDAQ:OABI) today announced the completion of the expected tax-free spin-off from Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) and the subsequent business combination with Avista Public Acquisition Corp. II (NASDAQ:AHPA), resulting in OmniAb becoming an independent publicly traded company. Based on actual redemptions and estimated transaction expenses, OmniAb expects to have approximately $95 million in cash at closing. OmniAb will begin regular-way trading November 2, 2022 on Nasdaq under the stock ticker symbol "OABI." "

      11/1/22 4:01:00 PM ET
      $AHPA
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $CHRO
    $LGND
    Financials

    Live finance-specific insights

    See more
    • Ligand Reports First Quarter 2025 Financial Results

      First quarter performance driven by strong portfolio royalty revenue growth of 44% Strengthened commercial portfolio and pipeline through strategic transactions with Channel Therapeutics and Castle Creek Biosciences Reiterating 2025 financial guidance of $180-$200 million in revenues and adjusted earnings per diluted share of $6.00-$6.251 Conference call begins at 8:30 a.m. Eastern Time today JUPITER, Fla., May 08, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) today reported financial results for the three months ended March 31, 2025, and provided an operating forecast and business update. Ligand management will host a conference call and webcast today at 8

      5/8/25 7:00:00 AM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Ligand to Report First Quarter 2025 Financial Results on May 8, 2025

      JUPITER, Fla., April 24, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) today announced that it will report first quarter 2025 financial results before the opening of the U.S. financial markets on Thursday, May 8, 2025. The company will hold a conference call that same day beginning at 8:30 a.m. ET to discuss the results and provide a general business update. Conference Call and Webcast InformationDate: Thursday, May 8, 2025   Time: 8:30 AM Eastern Time   Conference Call: (800) 715-9871 (U.S. & Canada)  (646) 307-1963 (International)  Conference ID 3661098   Webcast: Live and replay webcasts of the call are available here.    About Ligand PharmaceuticalsLiga

      4/24/25 7:00:00 AM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Palvella Therapeutics Reports Full Year 2024 Financial Results and Provides Corporate Update

      Upon close of merger and $78.9mm concurrent private placement from a syndicate of leading healthcare-dedicated investors, completed transformation to a publicly traded rare disease biopharmaceutical company advancing a late clinical-stage pipeline and a platform for treating serious, rare genetic skin diseases Top-line results from SELVA, a Phase 3 single-arm, baseline-controlled trial evaluating QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin) for the treatment of microcystic lymphatic malformations (microcystic LMs), on track for the first quarter of 2026 Top-line results from TOIVA, a Phase 2 single-arm, baseline-controlled trial evaluating QTORIN™ rapamycin for the treatment of

      3/31/25 7:30:00 AM ET
      $LGND
      $PVLA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $CHRO
    $LGND
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Chromocell Therapeutics Corporation

      SC 13G/A - Chromocell Therapeutics Corp (0001919246) (Subject)

      11/13/24 4:05:24 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Ligand Pharmaceuticals Incorporated

      SC 13G/A - LIGAND PHARMACEUTICALS INC (0000886163) (Subject)

      11/1/24 4:07:52 PM ET
      $LGND
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form SC 13G filed by Chromocell Therapeutics Corporation

      SC 13G - Chromocell Therapeutics Corp (0001919246) (Subject)

      3/4/24 4:07:02 PM ET
      $CHRO
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care