PTHSHIGH SIGNALMANAGEMENT10-K

Pelthos Therapeutics has undergone a complete corporate identity transformation, changing from Channel Therapeutics Corporation with a corresponding shift in business focus from multiple drug candidates (CC8464, CT2000, CT3000) to a new operational structure.

This represents a fundamental corporate restructuring that extends beyond a simple name change, as evidenced by the removal of all previous forward-looking statements related to Channel's clinical trial programs and regulatory filings. The substantial reduction in outstanding shares from 6.1 million to 3.4 million suggests either a reverse stock split or significant share buyback activity accompanying this transformation, indicating material changes to the company's capital structure and strategic direction.

Comparing 2026-03-19 vs 2025-03-27View on EDGAR →
LANGUAGE CHANGES
NEW — 2026-03-19
PRIOR — 2025-03-27
ADDED
(Exact name of registrant as specified in its charter) Nevada 86-3335449 (State or other jurisdiction of incorporation or organization) (I.R.S.
The registrant had 3,355,543 shares of its common stock outstanding as of March 11, 2026.
References in this Annual Report on Form 10-K to the Company, Pelthos, we, us, or our mean Pelthos Therapeutics Inc.
unless otherwise expressly stated or the context indicates otherwise.
Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements.
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REMOVED
The registrant had 6,103,813 shares of its common stock outstanding as of March 26, 2025.
References in this Annual Report on Form 10-K to the Company, Channel, we, us, or our mean Channel Therapeutics Corporation unless otherwise expressly stated or the context indicates otherwise.
Forward-looking statements include information concerning our strategy, future operations, future financial position, future revenue, projected expenses, prospects and plans and objectives of management.
Forward-looking statements include all statements that are not historical facts and can be identified by terms such as anticipate, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, seek, should, target, will, would or similar expressions and the negatives of those terms.
Forward-looking statements contained in this Report include, but are not limited to, statements about the following: the initiation, timing, progress and results of preclinical and clinical trials for CC8464, CT2000, CT3000 and any other compounds, including statements regarding the timing of initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available and our research and development programs; the timing, scope or results of regulatory filings and approvals, including timing of final U.S.
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