Pending acquisition: Pelthos is acquiring Castle Creek Biosciences. Figures on this page are Pelthos standalone, before the deal.
What they do
The Company currently has three U.S. Food and Drug Administration (“FDA”) approved products in its commercial portfolio, in various stages of commercialization, including ZELSUVMI TM , XEPI ® , and XEGLYZE ® . The July 1, 2025 merger transaction between Channel Therapeutics Corporation (“Channel”) and LNHC, Inc.
Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.
Share structure
Common
3.8M
Pre-funded warrants
0.0M
Options
1.5M
RSUs
0.4M
Warrants
0.1M
Converts
0.6M
Conv preferred
5.2M
ESPP reserve
0.0M
FDSO
11.6M
Cap table as of 2026-06-30.
Definitive merger agreement announced October 30, 2026 for Pelthos to acquire Castle Creek Biosciences. Castle Creek holders will receive 5,200,000 Pelthos shares at closing and are expected to own about 32.5% of the combined company on a fully diluted basis before a concurrent PIPE; existing Pelthos holders would own about 67.5%. A concurrent PIPE of about $57.5M of Series B convertible preferred plus warrants for 496,951 shares (up to $80M including an option tranche and bridge notes) closes immediately before the merger. Contingent consideration of 5,800,000 more shares on FDA approval of Castle Creek's D-Fi, up to $300M of milestone payments and 80% of any D-Fi priority review voucher proceeds stays excluded until earned. Pelthos stockholder approval was obtained by written consent on October 30, 2026. The deal still needs Castle Creek stockholder approval, an effective S-4 and information statement, HSR clearance and NYSE American listing approval, and is expected to close by the end of the first quarter of 2027. The share counts and cash on this page are Pelthos standalone and will be replaced at closing.
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Approved · ActiveModality: topical gel (nitric oxide-based, NITRICIL platform)
Aliases berdazimer
Partnerships Ligand: owns legacy Novan IP portfolio (assigned March 2025); Company retains ZELSUVMI. Reedy Creek: royalty/milestone purchase agreement — Company obligated to pay Reedy Creek on ZELSUVMI net sales in the U.S., Mexico and Canada
Indications
Molluscum contagiosum(Approved)
Status note ZELSUVMI (berdazimer topical gel, 10.3%) developed using the proprietary NITRICIL nitric oxide-based technology platform; FDA approved. Final Phase 3 enrolled 891 patients.
Partnerships Ferrer Internacional S.A.: exclusive license to manufacture/commercialize Xepi in the U.S., Puerto Rico and U.S. Virgin Islands (Nov 2025)
Indications
Impetigo(Stage not disclosed)
Status note Two Phase 3 pivotal studies completed in adult and pediatric populations (2 months and older). Acquired from Biofrontera (Nov 2025 asset purchase); exclusive U.S./Puerto Rico/U.S. Virgin Islands commercial license from Ferrer (Nov 2025); preparing for commercial launch.
SB207
Stage not disclosed · ActiveModality: topical (NITRICIL platform)
Partnerships Ligand: owns related portfolio rights; Company retains existing rights to SB207
Indications
External genital warts(Stage not disclosed)
Status note Prior clinical work performed; any further development would require the Company to manufacture API.
CC8464
Phase 1 · ActiveModality: oral small molecule (peripherally restricted)
Target NaV1.7
Indications
Neuropathic pain (erythromelalgia, idiopathic small fiber neuropathy)(Phase 1)
Status note Designed to not penetrate the CNS, targeting peripheral NaV1.7 channels. Phase 1 studies completed; no immediate plans for toxicology, CMC work or a human proof-of-concept trial.
Partnerships Acquired from Hatchtech Pty Ltd. (Dec 2025)
Indications
Head lice infestation (patients 6 months of age and older)(Approved)
Status note FDA approved July 2020; acquired December 2025 as a complementary commercial product.
Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
No lead program on file for this company.
No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.
Specialist fund holders
Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.
Fund
Shares
Q/Q change
% of portfolio
Filing
Ikarian Capital
256,598
no change
1.19%
2026-08-14
Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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