Pelthos Therapeutics Announces CFO Transition

Pelthos Therapeutics (NYSE American: PTHS) appointed John M. Gay as Chief Financial Officer effective April 10, 2026.

Rhea-AI Summary

Pelthos Therapeutics (NYSE American: PTHS) appointed John M. Gay as Chief Financial Officer effective April 10, 2026. Mr. Gay, previously Senior Vice President, Finance & Accounting since 2025, brings more than 25 years of public company finance and accounting experience.

He succeeds Francis Knuettel II, who served as CFO since July 2025. Management thanked the outgoing CFO for contributions tied to the merger with Channel Therapeutics and two recent significant capital raises.

Positive

• CFO appointment effective April 10, 2026
• Internal promotion from Senior VP of Finance ensures continuity
• 25+ years of public company finance and accounting experience

Negative

• Prior CFO tenure lasted from July 2025 to April 2026 (~9 months)

Argus Apr 13 session

+1.86% close to close Open Argus

Details

News Market Reaction – PTHS

On Apr 13, the first trading day after this news, PTHS closed 1.86% above the previous close.

Data tracked by StockTitan Argus for the Apr 13 session.

Key Figures

Shelf registration size: $200,000,000 Public float: $39.2 million Accumulated deficit: $43.1 million +5 more

Shelf registration size

$200,000,000

S-3 shelf filed February 2026

Public float

$39.2 million

As of January 28, 2026 per shelf filing

Accumulated deficit

$43.1 million

As of September 30, 2025

Senior term loan facility

$50 million

Total Horizon facility announced January 13, 2026

Term loan funded at closing

$30 million

Initial draw from Horizon facility

Convertible notes

$18.0 million

Convertible note financing referenced in Q4 2025 release

Q4 2025 net product revenue

$9.1M

ZELSUVMI net product revenue in Q4 2025

Total net sales since launch

$16.2M

ZELSUVMI sales through Dec 31, 2025

Historical Context

5 past events · Latest: Mar 31

5 events

1. Mar 31

   Clinical trial start

   24h Move

   +0.1%

   First patient dosed in Phase 1b/2a CT2000 clinical trial.

2. Mar 19

   Earnings results

   24h Move

   -4.6%

   Reported Q4 and 2025 results with early ZELSUVMI revenue growth.

3. Mar 09

   Earnings date notice

   24h Move

   -0.3%

   Announced date and time for Q4 and full-year 2025 results.

4. Feb 23

   Conference appearance

   24h Move

   +5.0%

   CEO scheduled to present at Oppenheimer healthcare conference.

5. Jan 13

   Debt financing

   24h Move

   -1.3%

   Secured up to $50M senior secured term loan facility from Horizon.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

phase 1b/2a, ophthalmic, nav1.7, convertible note financing, +4 more

8 terms

phase 1b/2a medical

"placebo-controlled Phase 1b/2a trial of CT2000 in eye pain"

Phase 1b/2a is a combined early-stage clinical study that first tests safety and optimal dosing in a small group and then expands to look for initial signs that the drug works in the target patients. Think of it as a prototype test followed by a small pilot run: it helps companies decide whether to invest in larger, more expensive trials. Investors watch these results because they reduce scientific uncertainty and can sharply affect a drug’s value and development timeline.

ophthalmic medical

"CT2000, an ophthalmic NaV1.7 inhibitor for acute and chronic eye pain"

Relating to the eye and its care, including medicines, drops, diagnostic tools and surgical devices used to prevent, diagnose or treat eye conditions. Investors care because ophthalmic products form a distinct market with specialized safety approvals, manufacturing needs and payer coverage, so success or failure in this area can drive steady revenue or costly setbacks—think of it as a niche, high‑safety consumer product line for vision health.

nav1.7 medical

"CT2000, an ophthalmic NaV1.7 inhibitor for acute and chronic eye pain"

NAV1.7 is a specific protein in nerve cells that helps transmit pain signals to the brain; think of it as a gatekeeper that opens and closes to let electrical messages through. Investors watch drugs that block or modify NAV1.7 because successful therapies could relieve chronic pain without opioids, creating large market opportunities, while clinical setbacks or safety issues can sharply affect a company's valuation.

convertible note financing financial

"The company closed an $18M convertible note financing, drew $30M"

A convertible note financing is a loan investors give to a company that is intended to turn into shares later instead of being paid back in cash. Think of it like a bridge loan that comes with a coupon you can swap for ownership at the next funding round, usually at a discounted price or a preset valuation limit. It matters to investors because it lets them support a company early while delaying a precise valuation, but it also affects future ownership percentages and risk exposure when the loan converts into equity.

senior secured term loan facility financial

"secured a senior secured term loan facility with Horizon Technology Finance"

A senior secured term loan facility is a type of borrowed money that a company takes out, which is backed by its valuable assets like property or equipment. Because it is secured by these assets and ranks higher in repayment priority, it is considered safer for lenders and typically offers lower interest rates. For investors, it provides a relatively stable and priority claim on the company's assets if it encounters financial difficulties.

rule 10b5-1 plan regulatory

"sales were made under a pre-arranged Rule 10b5-1 plan adopted on December 16, 2025"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

reverse stock split financial

"adjusted for a 1-for-10 reverse stock split effective July 1, 2025"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

restricted stock units financial

"restricted stock units (RSUs) granted under the 2023 Equity Incentive Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Senior Vice President, Finance & Accounting John M. Gay named Chief Financial Officer

DURHAM, N.C., April 10, 2026 (GLOBE NEWSWIRE) -- Pelthos Therapeutics Inc. (NYSE American: PTHS), a biopharmaceutical company committed to commercializing innovative therapeutic products for unmet patient needs (“Pelthos”), today announced John M. Gay has been appointed Chief Financial Officer effective April 10, 2026. Mr. Gay succeeds Francis Knuettel II, who served as Pelthos’ Chief Financial Officer since July 2025.

“John played a key role in helping us establish and launch Pelthos. He is an experienced financial leader, and we are excited to have him step into this new role as we continue our strong commercial momentum and enter the next phase of the company's growth,” said Scott Plesha, CEO of Pelthos. “We also want to thank Frank for his dedication and contributions following our merger with Channel Therapeutics Corporation and during our two recent significant capital raises.”

Mr. Gay has served as Senior Vice President, Finance & Accounting at Pelthos since 2025. He has more than 25 years of public company finance and accounting experience. Prior to joining Pelthos, he served as Chief Financial Officer of LNHC, Inc. (then, a wholly owned subsidiary of Ligand Pharmaceuticals, Inc.) and in senior finance roles at several publicly traded companies, including Furiex Pharmaceuticals, which was ultimately acquired by Forest Laboratories. He previously held roles at Deloitte and Arthur Andersen.

About Pelthos Therapeutics
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™ (berdazimer) topical gel, 10.3%, the company’s 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’s portfolio of assets includes Xepi® (ozenoxacin) Cream, 1%, a topical treatment for impetigo, and Xeglyze® (abametapir), a topical treatment for head lice. More information is available at www.pelthos.com. Follow Pelthos on LinkedIn and X.

Forward-Looking Statements
This press release contains forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, regarding Pelthos’ current expectations. All statements, other than statements of historical fact, could be deemed to be forward-looking statements. In some instances, words such as “continues,” “plans,” “believes,” “expects,” “anticipates,” and “will,” and similar expressions, are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our good faith beliefs (or those of the indicated third parties) and speak only as of the date hereof. These forward-looking statements include, without limitation, references to our continued growth and future opportunities, strategy and plans in the market. 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 expectations as to the Company’s future performance; successful product developments and approvals; and changes in general economic conditions. These and other risks and uncertainties are described more fully in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.

Contacts

Investors:
LifeSci Advisors, LLC
Mike Moyer, Managing Director
mmoyer@lifesciadvisors.com

Media:
KWM Communications
Kellie Walsh
pelthos@kwmcommunications.com
(914) 315-6072

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is the new CFO of Pelthos (PTHS) and when did the appointment take effect?

John M. Gay is the new Chief Financial Officer, effective April 10, 2026. According to the company, Mr. Gay was promoted from Senior Vice President, Finance & Accounting and will assume CFO responsibilities immediately.

What experience does Pelthos CFO John M. Gay bring to PTHS?

Mr. Gay has over 25 years of public company finance and accounting experience. According to the company, his background includes CFO and senior finance roles at several public biopharma companies and prior Big Four experience.

Who did John M. Gay replace as Pelthos CFO and how long did that predecessor serve?

John M. Gay succeeded Francis Knuettel II, who served as Pelthos CFO beginning July 2025. According to the company, the predecessor led finance following the merger and two recent capital raises.

Was the Pelthos CFO appointment internal or external for PTHS investors?

The appointment was internal: John M. Gay was promoted from Senior Vice President, Finance & Accounting. According to the company, he had been with Pelthos since 2025 and helped establish and launch the company.

Does the Pelthos announcement mention recent corporate events tied to the CFO transition at PTHS?

Yes. The company thanked the outgoing CFO for work related to the merger with Channel Therapeutics and two recent significant capital raises. According to the company, those transactions preceded this leadership change.

What might the Pelthos CFO change mean for shareholders of PTHS in the near term?

The company framed the promotion as supporting continued commercial momentum and next‑phase growth. According to the company, the internal hire is intended to preserve continuity during ongoing commercialization and financing activities.