{"id":1020241,"date":"2026-11-12T08:39:33","date_gmt":"2026-11-12T13:39:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pelthos-therapeutics-announces-third-quarter-2026-financial-results-and-provides-business-update\/"},"modified":"2026-11-12T08:39:33","modified_gmt":"2026-11-12T13:39:33","slug":"pelthos-therapeutics-announces-third-quarter-2026-financial-results-and-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pelthos-therapeutics-announces-third-quarter-2026-financial-results-and-provides-business-update\/","title":{"rendered":"Pelthos Therapeutics Announces Third Quarter 2026 Financial Results and Provides Business Update"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Zelsuvmi<\/em><br \/>\n        <sup>\u00ae<\/sup><br \/>\n        <em>net product revenue grew <\/em><br \/>\n        <em>114%<\/em><br \/>\n        <em> to <\/em><br \/>\n        <em>$15.2 million<\/em><br \/>\n        <em> during the <\/em><br \/>\n        <em>third<\/em><br \/>\n        <em> quarter of <\/em><br \/>\n        <em>2026<\/em><br \/>\n        <em> from <\/em><br \/>\n        <em>$7.1 million<\/em><br \/>\n        <em> in the <\/em><br \/>\n        <em>third<\/em><br \/>\n        <em> quarter of 2025<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>12,384<\/em><br \/>\n        <em> Zelsuvmi units were dispensed by <\/em><br \/>\n        <em>4,942<\/em><br \/>\n        <em> unique prescribers during the <\/em><br \/>\n        <em>third<\/em><br \/>\n        <em> quarter of <\/em><br \/>\n        <em>2026<\/em><br \/>\n        <em>, representing a <\/em><br \/>\n        <em>4%<\/em><br \/>\n        <em> quarter-over-quarter increase in units dispensed<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Increased formulary coverage for Zelsuvmi<\/em><br \/>\n        <sup><br \/>\n          <em>\u00ae<\/em><br \/>\n        <\/sup><br \/>\n        <em> to 127 million commercially covered lives<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Recently announced transaction with Castle Creek, creating transformative biotechnology company focused on serious diseases that affect the skin<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Management will host a conference call today, <\/em><br \/>\n        <em>November\u00a012, 2026<\/em><br \/>\n        <em>, at 8:30 a.m. ET<\/em>\n      <\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <br \/>\n        <\/strong>DURHAM, N.C., Nov.  12, 2026  (GLOBE NEWSWIRE) &#8212; Pelthos Therapeutics Inc. (NYSE American: PTHS), a biopharmaceutical company committed to commercializing innovative therapeutic products for unmet patient needs (\u201cPelthos,\u201d \u201cwe\u201d or the \u201cCompany\u201d), today announced its financial results for the third quarter ended September\u00a030, 2026, and provided a business update.<\/p>\n<p align=\"justify\">\u201cZelsuvmi delivered another solid quarter, generating net product revenue of $15.2 million,\u201d said Scott Plesha, CEO of Pelthos. \u201cThousands of patients have already benefited from Zelsuvmi and we remain focused on driving Zelsuvmi growth and building on our success with the planned launches of Xepi\u00ae targeted in the first quarter of 2027 and Xeglyze\u00ae targeted in the third quarter of 2027.\u201d<\/p>\n<p align=\"justify\">\u201cIn October, after the close of the third quarter, we took an important step in our pursuit of long-term value by announcing our agreement to combine with Castle Creek, a transaction that we believe will create a stronger, more diversified biotechnology company,\u201d Mr. Plesha continued. \u201cThis transformative merger brings together two complementary platforms across different therapeutic modalities and has significant upside potential through Castle Creek\u2019s fibroblast-based cell and gene therapy technology, and its lead candidate, D-Fi, which has the potential to become a blockbuster franchise in dystrophic epidermolysis bullosa, or DEB. We look forward to completing the transaction and delivering significant value to our shareholders.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Third<\/strong><br \/>\n        <strong> Quarter and Recent Business Highlights<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Zelsuvmi<\/em><br \/>\n        <\/strong><br \/>\n        <sup><br \/>\n          <strong><br \/>\n            <em>\u00ae<\/em><br \/>\n          <\/strong><br \/>\n        <\/sup><br \/>\n        <strong><br \/>\n          <em> Commercial Highlights<\/em><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Zelsuvmi\u00ae net product revenue was $15.2 million in the third quarter of 2026, up 114% from $7.1 million in the third quarter of 2025, driven by strong utilization of Zelsuvmi by health care providers, increased formulary position, and optimized gross-to-net deductions.\n<\/li>\n<li style=\"text-align:justify\">In the third quarter, units of Zelsuvmi dispensed increased to 12,384 units, up 4% from the prior quarter and up 365% from the same period last year.\n<\/li>\n<li style=\"text-align:justify\">Third-quarter net revenue per unit reflected increased utilization of Zelsuvmi associated with expanding access, consistent with expectations for this stage of launch. As new coverage is implemented, Pelthos expects a slight increase in gross-to-net deductions, and improving net revenue per unit over time.\n<\/li>\n<li style=\"text-align:justify\">During the third quarter of 2026, Pelthos announced that it had secured new formulary coverage with a major Pharmacy Benefit Manager, reaching an additional 24 million covered lives, gained enhanced commercial coverage through a regional commercial health plan representing approximately 3 million covered lives, and increased formulary coverage for Zelsuvmi to 127 million commercially covered lives or 69% of commercially covered lives and strong Medicaid coverage of more than 70 million or 100% of covered lives.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Combination with Castle Creek Presents Compelling Value Opportunity<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">On October 30, 2026, the Company announced that it entered into a definitive merger agreement under which Castle Creek Biosciences, Inc. (\u201cCastle Creek\u201d), a late-stage company developing redosable gene therapies, will merge into an affiliate of Pelthos via a series of mergers. The combination would create a transformative, diversified biotechnology company with a synergistic pediatric and dermatological focus, targeting serious diseases that affect the skin. Castle Creek\u2019s late-stage fibroblast-based cell and gene therapy platform, including its lead candidate, D-Fi, complements the Company\u2019s three novel FDA-approved products and established commercial capabilities in dermatology, with the potential to drive long-term value for shareholders. D-Fi is a redosable, gene-modified cell therapy for DEB that has received Orphan Drug designation for DEB and Rare Pediatric Disease, Fast Track and Regenerative Medicine Advanced Therapy designations from the FDA for recessive DEB.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">The transaction remains on track to close by the end of the first quarter of 2027, subject to customary closing conditions including approval by Castle Creek\u2019s stockholders.\n<\/li>\n<li style=\"text-align:justify\">The combined company is expected to offer compelling complementary capabilities, greater pipeline diversification and an expanded technology base.\n<\/li>\n<li style=\"text-align:justify\">As part of the Pelthos\u2019 portfolio, D-Fi will leverage the Company\u2019s established commercial leadership, and deep expertise in dermatology. The merger offers important synergy in prescribers and key opinion leaders as both D-Fi and Pelthos\u2019 current portfolio are focused on providing important therapies to the pediatric dermatology, dermatology and pediatric specialties.\n<\/li>\n<li style=\"text-align:justify\">Bringing together Pelthos\u2019 three novel FDA-approved products, Zelsuvmi\u00ae, Xepi\u00ae and Xeglyze\u00ae, with D-Fi will create a portfolio spanning marketed, launch-stage and late-stage assets that provides multiple potential sources of growth over different time horizons.\n<\/li>\n<li style=\"text-align:justify\">In addition, Castle Creek\u2019s fibroblast technology adds a cell and gene therapy capability to Pelthos\u2019 existing Nitricil technical and manufacturing platform, giving the combined company multiple therapeutic modalities to address serious skin diseases where conventional small molecules have had limited impact and allowing it to expand its product pipeline over time.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Other Financial Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Pelthos\u2019 cash balance as of September\u00a030, 2026 was $17.7 million, not including an additional $10.0 million borrowed from Horizon Technology Finance on October 30, 2026. This additional borrowing, paired with cash on hand, combined with the Company\u2019s current commercial projections, is expected to support its current business plan.\n<\/li>\n<li style=\"text-align:justify\">On October 30, 2026, Pelthos entered into an Amended and Restated Venture Loan and Security Agreement with Horizon Technology Finance, which amended and restated the Company\u2019s original Venture Loan and Security Agreement (January 2026). The amended agreements provides for a senior secured term loan facility of up to $50.0 million. In connection with the amendment, the Company drew an additional $10.0 million, bringing current outstanding borrowings to $40.0 million. An additional $10.0 million may be available in funding prior to December 31, 2027, primarily subject to the Company achieving trailing twelve-month net revenue of at least $70.0 million.\n<\/li>\n<li style=\"text-align:justify\">As of September 30, 2026, we had approximately 9.1 million shares outstanding on an as-converted basis, which includes the conversion of approximately 51,479 shares of the Company\u2019s Series A and 2,600 shares of Series C Convertible Preferred Stock, and approximately 3.9 million shares of common stock issued and outstanding.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Third<\/strong><br \/>\n        <strong> Quarter <\/strong><br \/>\n        <strong>2026<\/strong><br \/>\n        <strong> Financial Summary <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">Net product revenues for Zelsuvmi during the third quarter of 2026 was $15.2 million as compared to $7.1\u00a0million during the third quarter of 2025 and $15.4\u00a0million during the second quarter of 2026, representing a 114% year-over-year increase and a 1% quarter-over-quarter decrease, respectively.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Cost of goods sold was $1.7 million for the third quarter of 2026 as compared to $2.3 million for the third quarter of 2025 and $3.6\u00a0million for the second quarter of 2026, representing a 28% year-over-year reduction and a 54% quarter-over-quarter reduction, respectively. Cost of goods sold includes fair value adjustments related to finished goods and active pharmaceutical ingredient inventory on hand at the time of the Company\u2019s merger in July 2025. Cost of goods sold for the second quarter of 2026 also included a $0.9 million write-off of work-in-process inventory related to specification tolerances.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Selling, general and administrative (\u201cSG&amp;A\u201d) expenses were $18.8 million for the third quarter of 2026 as compared to $18.4 million for the third quarter of 2025 and $25.0\u00a0million for the second quarter of 2026, representing a 3% year-over-year increase and a 25% quarter-over quarter reduction. SGA expenses for the second quarter of 2026 included $5.3 million of one-time milestone expense.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Interest expense was $2.3 million for the third quarter of 2026 compared to $1.3 million for the third quarter of 2025 and $2.4\u00a0million for the second quarter of 2026. Interest expense is attributable to (i) the Company\u2019s existing convertible notes and its Horizon facility; and (ii) the accounting treatment of certain royalty and purchase agreement obligations entered into by the Company.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Change in fair value of debt, related to the convertible notes issued in November 2025, was a $4.1 million gain in the third quarter of 2026 compared to a $3.7\u00a0million loss for the second quarter of 2026. There was no corresponding change in fair value of debt in the third quarter of 2025 because the convertible notes had not yet been issued. At issuance, the Company analyzed the terms of the convertible notes and its embedded features concluding it was appropriate to account for the convertible notes at fair value. Accordingly, the Company initially recognized the convertible notes at fair value and will subsequently measure the convertible notes at fair value with changes in fair value recorded in current period earnings or other comprehensive income.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Net loss for the third quarter of 2026 was $(7.9) million, compared to $(16.2) million for the third quarter of 2025 and $(23.4) million for the second quarter of 2026.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Adjusted EBITDA for the third quarter of 2026 was $(5.6) million, as compared to $(10.4) million for the third quarter of 2025 and $(5.7) million for the second quarter of 2026, as discussed within the Non-GAAP Financial Information below.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">See additional detail within the Summary Financial Statement tables and Non-GAAP Financial Information below.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Webcast and Conference Call<\/strong>\n      <\/p>\n<p align=\"justify\">Management will host a conference call and webcast today at 8:30 a.m. ET to discuss the Company\u2019s third quarter 2026 results and provide a corporate update. Interested parties may participate in the call by dialing:<\/p>\n<p align=\"justify\">(877) 451-6152 (Domestic)<br \/>(201) 389-0879 (International)<br \/>Conference ID: 13763737<\/p>\n<p align=\"justify\">The live webcast will be accessible in the Investors section of the Company\u2019s website or by following the direct link:<\/p>\n<p align=\"justify\">\n        <u><br \/>\n          <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=IB89njA7n2ip5ECnWJByoqkeOv6F_ATD-O6hEorP09Uc4pXSLxE5BaxdxAPbO6XDBFsW-sc0SOkQmfrjOp7hwZCn5_rOhaqs46eqA_qmLoCMah8H6tx9Bjy8CAKQCaO3shCJQ6YIrI-joRVm9c5wTHFIg9vDk1wETg3-CzQc9-LqC9LFTGOgGP5KC_mqGoPMU594L10Vg07WnfbE6sTCPrqbFTauIEZonSV-oV_ejYg=\" rel=\"nofollow\" target=\"_blank\">https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1782128&amp;tp_key=f03f47add7<\/a><br \/>\n        <\/u>\n      <\/p>\n<p align=\"justify\">For those who cannot listen to the live broadcast, an online replay will be available in the Investors section of Pelthos\u2019 website.<\/p>\n<p align=\"justify\">\n        <strong>About Pelthos Therapeutics<\/strong>\n      <\/p>\n<p align=\"justify\">Pelthos Therapeutics is a commercial-stage biopharmaceutical company focused on building and advancing a portfolio of differentiated cutaneous infectious disease products that address unmet patient needs. Zelsuvmi<sup>\u00ae<\/sup> (berdazimer) topical gel, 10.3%, the Company\u2019s lead product, is the first and only prescription therapy approved for use at home by patients, parents, and caregivers to treat molluscum contagiosum. The company\u2019s portfolio of assets includes Xepi<sup>\u00ae<\/sup> (ozenoxacin) Cream, 1%, a topical treatment for impetigo, and Xeglyze<sup>\u00ae<\/sup> (abametapir), a topical treatment for head lice. More information is available at <u>www.pelthos.com<\/u>. Follow Pelthos on <u>LinkedIn<\/u> and <u>X<\/u>.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, regarding Pelthos\u2019 current expectations. All statements, other than statements of historical fact, could be deemed to be forward-looking statements. In some instances, words such as \u201cplans,\u201d \u201cbelieves,\u201d \u201cexpects,\u201d \u201canticipates,\u201d and \u201cwill,\u201d 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) the potential benefits of the merger with Castle Creek, including potential synergies and capabilities of the combined company, and the anticipated timing of closing; (ii) the anticipated ongoing growth for Zelsuvmi\u00ae; (iii) the potential timing for the commercialization and anticipated launch of Xepi and Xeglyze; (iv) our belief that the exclusion of certain items in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our business; and (vi) our belief that Adjusted EBITDA provides useful information to investors in understanding and evaluating our operating results. 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\u2019s Common Stock will be indicative of the combined company\u2019s value or that the combined company\u2019s Common Stock will become an attractive investment in the future; the closing conditions required under the Castle Creek merger agreement, which may not be satisfied or completed on a timely basis, if at all; 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.<\/p>\n<p align=\"justify\">\n        <strong>Contacts<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Investors:<\/strong><br \/>\n        <br \/>LifeSci Advisors, LLC<br \/>Mike Moyer, Managing Director<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fCuU62nbMNgqudHxGve69mmMk-6Larch-1zLsIggAPbdZs7xmTLA-wV61ZwRZZRRlFRZFJfZBCUHeltXDFDjWn6qHZNK-0h55YRqeY5YXFCKURt3gvYGW4PvlM-deSg-\" rel=\"nofollow\" target=\"_blank\">mmoyer@lifesciadvisors.com<\/a><\/u><\/p>\n<p align=\"justify\">\n        <strong>Media:<\/strong><br \/>\n        <br \/>Jude Gorman \/ Dylan O\u2019Keefe<br \/>Collected Strategies<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Xvsb1wA4diiBVTkQUg_XAWQ2jXSIFTuxXwYfpYXdljxla_F1p4Da-aAnxhAbpkAnzrx-PhwR5Pd_cXULnVPnOpncO6k7k5vkt5iyiIvhzLetmvvp15v1hZr_r2Ipp-JR2OnlyWxS5pfPLfE47kuEiA==\" rel=\"nofollow\" target=\"_blank\">Pelthos-CS@collectedstrategies.com<\/a><\/u><\/p>\n<p align=\"center\">\n        <strong>Summary Financial Statements<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Pelthos Therapeutics Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Selected Condensed Consolidated Balance Sheet Data<\/strong><br \/>\n            <br \/>\n            <strong>(unaudited)<\/strong><br \/>\n            <br \/>\n            <strong>(in thousands)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>September 30, <br \/>2026<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong><br \/>\n            <br \/>\n            <strong>2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a017,690\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a017,973<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Accounts receivable, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a013,413\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a08,858<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Inventory<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a021,471\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a023,574<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total current assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a056,066\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a053,410<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0128,817\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0130,397<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Accounts payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,717\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,986<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Accrued expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a023,155\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,364<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total current liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a031,435\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a025,993<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0135,003\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a091,516<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total stockholders&#8217; (deficit) equity<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(6,186<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a038,881<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total liabilities and stockholders&#8217; equity<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0128,817\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0130,397<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<\/p>\n<p>\n        \n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"16\" style=\"width:99.8998%;text-align: center;vertical-align: middle\">\n            <strong>Pelthos Therapeutics Inc.<br \/><\/strong><br \/>\n            <strong>Condensed Consolidated Statements of Operations<\/strong><br \/>\n            <br \/>\n            <strong>(unaudited)<\/strong><br \/>\n            <br \/>\n            <strong>(in thousands except share and per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:21.0182%\">\u00a0<\/td>\n<td style=\"width:0.759694%\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:21.0815%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:21.0182%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>September 30,<\/strong>\n          <\/td>\n<td style=\"width:0.759694%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:21.0815%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Nine Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>September 30,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Revenue<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Net product revenues<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,213<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,112<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a041,298<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,112<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">License and collaboration revenues<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0182<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0294<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0606<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0294<\/td>\n<td style=\"width:1.01293%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total revenue<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,395<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,406<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a041,904<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,406<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Operating expenses<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Cost of goods sold<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,661<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,316<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a06,944<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,316<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Selling, general and administrative<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a018,845<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a018,383<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a063,117<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a022,739<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Research and development<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,019<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0145<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,805<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0854<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Royalty expense<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,510<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,245<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,015<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,245<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Amortization of intangible assets<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,05\u00a0<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0679<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,127<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0679<\/td>\n<td style=\"width:1.01293%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total operating expenses<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a025,088<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a022,768<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a082,008<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a027,833<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Operating loss<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(9,693<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(15,362<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(40,104<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(20,427<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Other (expense) income<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(2,269<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(1,346<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,011<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(1,698<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Change in fair value of convertible debt<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a04,067<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(9,270<\/td>\n<td style=\"width:0.949617%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"width:1.01293%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest income and other income<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a05<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014\u00a0<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a05<\/td>\n<td style=\"width:1.01293%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total other (expense) income<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,798<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(1,341<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(16,281<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(1,693<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Net loss before provision (benefit) for income taxes<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(16,703<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(56,385<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(22,120<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Provision (benefit) for income taxes<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(465<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014\u00a0<\/td>\n<td style=\"width:0.949617%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(465<\/td>\n<td style=\"width:1.01293%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Net loss<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(16,238<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(56,385<\/td>\n<td style=\"width:0.949617%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(21,655<\/td>\n<td style=\"width:1.01293%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Net loss per common share &#8211; basic and diluted<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(2.04<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5.30<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(15.78<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(14.92<\/td>\n<td style=\"width:1.01293%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1293%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:10.1926%;border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:57.0404%;vertical-align: bottom\">Weighted average number of common shares outstanding &#8211; basic and diluted<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,862,896<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,061,735<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,573,387<\/td>\n<td style=\"width:0.949617%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.759694%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:1.32946%;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:7.85017%;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,451,152<\/td>\n<td style=\"width:1.01293%;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Pelthos Therapeutics Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Condensed Consolidated Statements of Operations<\/strong><br \/>\n            <br \/>\n            <strong>(unaudited)<\/strong><br \/>\n            <br \/>\n            <strong>(in thousands except share and per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>September 30, 2026<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Revenue<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Net product revenues<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,213<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,420<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">License and collaboration revenues<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0182<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0183<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total revenue<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,395<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a015,603<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating expenses<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cost of goods sold<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,661<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,610<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Selling, general and administrative<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a018,845<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a025,034<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Research and development<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,019<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0600<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Royalty expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,510<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,639<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Amortization of intangible assets<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,053<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,043<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total operating expenses<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a025,088<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a032,926<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating loss<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(9,693<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(17,323<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other (expense) income<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(2,269<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(2,389<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Change in fair value of convertible debt<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a04,067<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(3,705<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Total other (expense) income<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,798<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(6,094<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss before provision for income taxes<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(23,417<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Provision for income taxes<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(23,417<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss per common share &#8211; basic and diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(2.04<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(6.62<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average number of common shares <br \/>outstanding &#8211; basic and diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,862,896<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,539,464<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong><br \/>\n          <br \/>Non-GAAP Financial Information<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <u>Adjusted EBITDA<\/u>\n      <\/p>\n<p align=\"justify\">To provide investors with additional information regarding the Company\u2019s financial results, we have provided within this press release Adjusted EBITDA, a non-GAAP financial measure. We define Adjusted EBITDA as net loss adjusted to eliminate (i) stock-based compensation expense, (ii) the inventory valuation step-up recognized in cost of goods sold resulting from the July 1, 2025 acquisition of LNHC, Inc., as described below, (iii) change in fair value of convertible debt, (iv) milestones due to license agreement counterparties, (v) interest expense, (vi) interest and other income, (vii) amortization of intangible assets, (viii) depreciation expense, and (ix) the provision for income taxes. We have provided a reconciliation below of Net Loss, the most directly comparable GAAP financial measure, to Adjusted EBITDA.<\/p>\n<p align=\"justify\">The Company accounts for business acquisitions using the acquisition method of accounting in accordance with Accounting Standards Codification (\u201cASC\u201d) 805, Business Combinations. ASC 805 requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values, as determined in accordance with ASC 820, Fair Value Measurements (\u201cASC 820\u201d), as of the acquisition date. As part of the July 1, 2025 acquisition of LNHC, Inc., the fair value of the inventory acquired was estimated using the top\/down method that considers the estimated selling price, costs to complete, disposal costs, profit margin on disposal effort, and holding costs. Significant assumptions include management\u2019s estimates for the selling price and the costs to be incurred related to the disposal effort of the inventory. The non-cash inventory valuation step-up from the acquisition of LNHC, Inc. is recognized within cost of goods sold in the periods presented.<\/p>\n<p align=\"justify\">We have included Adjusted EBITDA in this press release because it is a key measure used by our management to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operating plans. In particular, we believe the exclusion of certain items from net loss in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our business. Accordingly, we believe that Adjusted EBITDA provides useful information to investors in understanding and evaluating our operating results. Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.<\/p>\n<p align=\"justify\">The following table presents a reconciliation of Net Loss to Adjusted EBITDA for each of the periods indicated (in thousands):<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>September 30,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Nine Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>September 30,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net loss <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(16,238<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(56,385<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(21,655<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Adjustments:<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Stock-based compensation<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,943<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,812<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a06,611<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,662<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cost of goods sold basis step-up<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0823<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,111<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a04,757<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,111<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Change in fair value of convertible debt<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(4,067<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a09,270<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Milestone expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a05,250<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,269<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,346<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a07,011<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,698<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest income and other income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Amortization of intangible assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,053<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0679<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,127<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0679<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0283<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0389<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,030<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0389<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Provision (benefit) for income taxes<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(465<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(465<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5,591<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(10,371<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(19,329<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(14,586<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>September 30, 2026<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net loss <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(7,895<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(23,417<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Adjustments:<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Stock-based compensation<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,943<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,760<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cost of goods sold basis step-up<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0823<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,295<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Change in fair value of convertible debt<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(4,067<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a03,705<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Milestone expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a05,250<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,269<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a02,389<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Amortization of intangible assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,053<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a01,043<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0283<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0278<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5,591<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0(5,697<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTg3NTkzNSM3OTYxMjc0IzUwMDEyNjcxOQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MjE2YTNkMDctOGIwNy00Yzk2LTg5ZWEtN2Q3NzE3NTc2Mjk4LTUwMDEyNjcxOS0yMDI2LTExLTEyLWVu\/tiny\/Pelthos-Therapeutics-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Zelsuvmi \u00ae net product revenue grew 114% to $15.2 million during the third quarter of 2026 from $7.1 million in the third quarter of 2025 12,384 Zelsuvmi units were dispensed by 4,942 unique prescribers during the third quarter of 2026 , representing a 4% quarter-over-quarter increase in units dispensed Increased formulary coverage for Zelsuvmi \u00ae to 127 million commercially covered lives Recently announced transaction with Castle Creek, creating transformative biotechnology company focused on serious diseases that affect the skin Management will host a conference call today, November\u00a012, 2026 , at 8:30 a.m. ET DURHAM, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) &#8212; Pelthos Therapeutics Inc. (NYSE American: PTHS), a biopharmaceutical company committed to commercializing innovative therapeutic products for unmet patient needs &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pelthos-therapeutics-announces-third-quarter-2026-financial-results-and-provides-business-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pelthos Therapeutics Announces Third Quarter 2026 Financial Results and Provides Business Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1020241","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pelthos Therapeutics Announces Third Quarter 2026 Financial Results and Provides Business Update - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pelthos-therapeutics-announces-third-quarter-2026-financial-results-and-provides-business-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pelthos Therapeutics Announces Third Quarter 2026 Financial Results and Provides Business Update - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Zelsuvmi \u00ae net product revenue grew 114% to $15.2 million during the third quarter of 2026 from $7.1 million in the third quarter of 2025 12,384 Zelsuvmi units were dispensed by 4,942 unique prescribers during the third quarter of 2026 , representing a 4% quarter-over-quarter increase in units dispensed Increased formulary coverage for Zelsuvmi \u00ae to 127 million commercially covered lives Recently announced transaction with Castle Creek, creating transformative biotechnology company focused on serious diseases that affect the skin Management will host a conference call today, November\u00a012, 2026 , at 8:30 a.m. ET DURHAM, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) &#8212; Pelthos Therapeutics Inc. 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