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Pelthos Therapeutics Announces First Quarter 2026 Financial Results

  • Pelthos Therapeutics Inc. reported ZELSUVMI net product revenue of $10.7 million for Q1 2026, a 17% increase from $9.1 million in Q4 2025.
  • 7,884 ZELSUVMI units were dispensed in Q1 2026 by 3,228 unique prescribers, representing a 25% quarter-over-quarter increase in units.
  • Total ZELSUVMI units dispensed since the July 2025 launch reached 16,774, with cumulative net sales of $26.9 million across the first three quarters of commercial operations.
  • The company expanded its sales force to 64 territory managers in Q1 2026, adding 14 representatives to cover previously uncovered territories.
  • Pelthos entered a $50.0 million senior secured term loan facility with Horizon Technology Finance in January 2026, drawing $30.0 million at closing.
  • Cash balance as of March 31, 2026, was $32.0 million, which management expects will support current business operations.
  • Net loss for Q1 2026 was $10.2 million, compared to $21.7 million in Q4 2025, while Adjusted EBITDA was $(8.0) million.
  • Selling, general & administrative expenses rose to $21.1 million in Q1 2026 from $18.5 million in Q4 2025, driven by increased personnel, marketing, & regulatory costs.
  • Interest expense increased to $2.4 million in Q1 2026 due to existing convertible notes & the new Horizon facility.
  • Management anticipates ZELSUVMI dispensed units to surpass 20,000 total and projects commercialization of XEPI® in early 2027 & XEGLYZE® in mid-2027.
  • A conference call to discuss these results was held on May 14, 2026, at 8:30 a.m. ET.