Pelthos Therapeutics Inc.
PTHSHIGH VELOCITYFILING INTENSITYPelthos Therapeutics Inc. reads as an High Velocity (composite 64/100); Transformational Buyer deploying $3B across 1 disclosed transactions, newly disclosed vs the prior cycle · primary market Healthcare.
Lens
Disclosed M&A capital (2023–2025)
$2.8B
vs N/A in 2020–2022
Disclosed transactions
1
1/3 active fiscal years in window
Buyer archetype
Transformational Buyer
Episodic but very large disclosed transactions drive the profile.
Composite score
64
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $2.8B disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 56d
- 28 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 1 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 1 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 1 activism filings
- Latest activism 2.3y ago; discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 10-Q 208d stale
- 1 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 auditor change
- 1 NT late filing
- Latest event 1.1y ago
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 28 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $33M
- 10-Q 208d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $2,761M · Peak count: 1
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 1 | $2.8B | $2.8B | N/A |
| 2024 | N/A | N/A | N/A | N/A |
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | N/A | N/A | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Bolt On33%
- Geographic Expansion33%
- Platform33%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- bolt_on
- geographic_expansion
- platform
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“In November 2025, the Company acquired XEPI (ozenoxacin) cream, 1% for the treatment of impetigo. The acquisition of this asset provided a complementary dermatology product to the Company’s portfolio anchored by ZELSUVMI.”
“The July 1, 2025 merger transaction between Channel Therapeutics Corporation (“Channel”) and LNHC, Inc. (“LNHC”), discussed below, resulted in Pelthos Therapeutics Inc. initially having (i) a commercially marketable product, ZELSUVMI for the treatment of molluscum contagiosum, which was launched in July 2025 shortly after the Merger (as defined below); (ii) a manufacturing facility, equipment and know-how to produce the active pharmaceutical ingredient (“API”) used in ZELSUVMI and the NITRICILTM technology platform; and (iii) clinical-stage assets which selectively target the sodium ion-channel known as “NaV1.7”, which has been genetically validated as a pain receptor in human physiology.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Healthcare
- Market spend (2023–2025)
- $195B
- Market spend (2020–2022)
- $253.6B
- Recent vs prior
- −23%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
PTHS trades at a -14.0-turn discount to the Healthcare peer median of 12.9×.
- EV / Revenue
- 2.0×
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
AbbVie Inc.ABBV | 23.4× | 6.7× | 3.1× | $62.8B | $18B |
| 17.2× | 0.9× | 1.9× | $449.7B | $28.1B | |
Amgen Inc.AMGN | 12.9× | 6.0× | 2.6× | $37.2B | $26.7B |
| 11.7× | 0.5× | 2.5× | $200.4B | $6.4B | |
| 9.3× | 1.9× | 2.8× | $76.4B | $1.3B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)32026-03-19
- 10-Q (quarterly)62025-11-13
- 8-K (event)282026-04-14
- Proxy / DEF 14A42025-11-25
- Activism (13D / DFAN / PREC)12024-02-26
Signals on file
- elevated
Auditor change
2025-04-171 Item 4.01 filing on file; certifying accountant change.
- watch
Late-filing notice
2024-04-011 NT 10-K/10-Q filing on file.
- elevated
Activism on file
2024-02-261 activist filing on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.