Pelthos announces Q1 2026 restatement and Q2 revenue growth of 45% to $15.4M

The company disclosed its second quarter 2026 financial results and provided an operational update through a press release. The 8-K body does not contain the actual financial figures or operational details, which are furnished in Exhibit 99.1.

The company disclosed Q2 2026 financial results under Item 2.02, which is incorporated by reference into the Regulation FD disclosure. Item 2.02 typically covers results of operations and financial condition. The specific financial metrics are contained in Exhibit 99.1, which is not included in the provided filing text.

Pelthos posted an investor presentation to its website on August 13, 2026. The presentation is attached as Exhibit 99.2 and likely contains additional context on the company's business, pipeline, and strategy beyond the earnings results.

Zelsuvmi net product revenue grew 45% quarter-over-quarter to $15.4 million in Q2 2026 from $10.7 million in Q1 2026. Units dispensed increased 48% to 11,925 units from 8,084 units, written by 4,571 unique prescribers. Since commercial launch in July 2025, more than 25,000 patients have been prescribed Zelsuvmi, with cumulative net sales of $42.3 million through Q2 2026.

Pelthos reported a net loss of $23.4 million in Q2 2026, improved from a $25.1 million loss in Q1 2026. Adjusted EBITDA was negative $5.7 million in Q2 versus negative $8.0 million in Q1. The company held $24.2 million in cash as of June 30, 2026, which management expects will support the current business plan.

SG&A expenses rose 31% to $27.7 million in Q2 2026 from $21.1 million in Q1 2026, driven primarily by $5.3 million in non-recurring sales-based milestones. Additional increases included $0.4 million in personnel costs (including $0.5 million severance), $0.7 million in non-cash expenses, and $0.7 million in corporate expenses, partially offset by reductions in regulatory and commercial expenses.

Cost of goods sold more than doubled to $3.6 million in Q2 2026 from $1.7 million in Q1 2026. The Q2 figure includes a $0.9 million write-off of commercial API inventory that fell outside quality specifications during routine testing. The company states the procedural cause has been addressed and subsequent manufacturing has met specifications.

Pelthos believes it has achieved access to an additional $10.0 million under its $50.0 million Horizon loan facility based on reaching $42.3 million in trailing twelve-month net product revenues as of June 30, 2026. The company initially drew $30.0 million at closing in January 2026. Access to the additional $10.0 million remains subject to the lender's discretion.

Pelthos disclosed that Zelsuvmi, its first-and-only at-home treatment for molluscum contagiosum launched in July 2025, has dispensed over 20,000 units through April 2026. The presentation shows robust quarter-over-quarter growth in the first full year of launch, with 70% combined Medicaid/commercial coverage achieved with a single contract and a 67-territory sales force covering approximately 53% of MC claims.

Pelthos acquired Xepi (ozenoxacin cream 1%), an FDA-approved topical treatment for impetigo, from BioFrontera in October 2025. The company expects to relaunch the product in Q1 2027, leveraging the existing Zelsuvmi commercial infrastructure. Xepi has exclusivity until 2032 and addresses a large market — impetigo is the number-one bacterial infection seen in pediatrician offices, representing 1-2% of all pediatric visits in the U.S.

Pelthos acquired Xeglyze (abametapir lotion 0.74%), an FDA-approved topical treatment for head lice, from Hatchtech in December 2025. The company expects to launch the product in Q3 2027, again leveraging the Zelsuvmi commercial team. Xeglyze has exclusivity until 2034 and addresses a market of 6-12 million U.S. cases annually, with a single ten-minute application demonstrating efficacy against both lice and eggs.

Pelthos reported second-quarter 2026 results showing net product revenue up 45% sequentially, driven by Zelsuvmi growth. SG&A expenses rose 31% quarter-over-quarter, primarily due to approximately $5.3 million in one-time milestone payments and roughly $0.8 million in higher royalties. The company ended Q2 2026 with $24.2 million in cash and working capital of $31.4 million, supported by a $30 million Horizon loan facility established in January 2026.

Pelthos disclosed a $30 million term-loan facility from Horizon established in January 2026, structured as five-year notes. As of June 30, 2026, the company has potential access to an additional $10 million at the lender's discretion, plus another $10 million available upon achieving certain milestones. This non-dilutive capital supports the company's commercial expansion and product-launch plans.