Pelthos Therapeutics (PTHS) investor relations material

Executive summary

• Q3 2026 revenue was $15.395M, including $15.213M in Zelsuvmi net product sales; 9M revenue was $41.904M.

• Q3 net loss narrowed to $7.895M from $16.2M YoY; 9M net loss was $56.385M, including a $9.3M loss from the fair-value change in convertible debt.

• Three FDA-approved products are in the portfolio; Xepi and Xeglyze launches are targeted for Q1 and Q3 2027, respectively.

Financial highlights

• Q3 operating loss was $9.693M versus $15.362M YoY; 9M operating loss was $40.104M versus $20.427M.

• Q3 basic and diluted loss per share was $2.04; 9M loss per share was $15.78.

• 9M SG&A was $63.117M, including a $5.0M Ligand milestone expense; 9M COGS included a $0.925M commercial API inventory write-off.

• Q3 Adjusted EBITDA loss was $5.6M versus $10.4M YoY; 9M Adjusted EBITDA loss was $19.3M versus $14.6M.

Commercial performance

• Zelsuvmi net product revenue rose 114% YoY; Q3 revenue was $15.213M, down 1% QoQ.

• Q3 Zelsuvmi dispensed 12,384 units through 4,942 unique prescribers; units rose 365% YoY and 4% QoQ.

• Zelsuvmi COGS was $1.7M, down 28% YoY and 54% QoQ; Q2 COGS included a $0.9M work-in-process inventory write-off.

• Coverage reached 127M commercially covered lives, or 69% of commercial lives, and Medicaid coverage exceeded 70M lives.