Pelthos Therapeutics Inc.
PTHSHealthcare|Biotechnology|US
$9.36
+0.06 (+0.65%)
DCF Value
$113.99
Cash / Share
$6.94
Financials
Financial Snapshot
Market Cap
$35.8M
Enterprise Value
$84.4M
Revenue (TTM)
$43.3M
Net Income (TTM)
-$71.6M
Cash & Investments
$24.6M
Net Cash
-$48.5M
Free Cash Flow (TTM)
-$42.6M
Operating CF (TTM)
-$42.3M
Debt/Equity
-48.71
Cash Runway & Burn Rate
Cash on Hand
$24.6M
Quarterly Burn
$10.6M
Monthly Burn
$3.5M
Est. Runway
~2.3 quarters
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | — | — | $55.1K | $96.4K | $513.4K | $18.0M | $24.6M | |
| Operating Cash Flow | — | — | -$1.6M | -$981.0K | -$5.8M | -$22.6M | -$42.3M | |
| Free Cash Flow | — | — | -$1.6M | -$981.0K | -$5.8M | -$22.7M | -$42.6M | |
| Capital Expenditure | — | — | $0.00 | $0.00 | $0.00 | -$99.0K | -$295.0K | |
| Financing Cash Flow | — | — | $1.6M | $1.0M | $6.2M | $45.3M | $72.2M |
R&D Spending
R&D (TTM)
$1.3M
R&D Intensity
3.0%
R&D Growth vs Prior
+6.3%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $199.9K | $0.00 | $0.00 | $0.00 | $0.00 | $16.8M | $43.3M | |
| R&D Expense | $138.6K | $209.0K | $391.7K | $2.6M | $1.2M | $1.2M | $1.3M | |
| R&D % of Revenue | 69.3% | — | — | — | — | 7.3% | 3.0% | |
| SG&A | $1.4M | $629.9K | $1.9M | $4.3M | $6.4M | $37.1M | $77.6M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $199.9K | $0.00 | $0.00 | $0.00 | $0.00 | $16.8M | $43.3M | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $9.4M | $19.6M | |
| Gross Profit | $199.9K | $0.00 | $0.00 | $0.00 | $0.00 | $7.4M | $23.7M | |
| R&D | $138.6K | $209.0K | $391.7K | $2.6M | $1.2M | $1.2M | $1.3M | |
| SG&A | $1.4M | $629.9K | $1.9M | $4.3M | $6.4M | $37.1M | $77.6M | |
| Operating Income | -$1.4M | -$839.0K | -$2.3M | -$6.9M | -$7.6M | -$32.4M | -$57.8M | |
| Interest Expense | $1.7K | $253.00 | $140.4K | $518.5K | $786.4K | $3.0M | $7.4M | |
| Pretax Income | -$660.6K | -$595.4K | -$2.5M | -$7.4M | -$8.0M | -$50.7M | -$78.9M | |
| Net Income | -$660.6K | -$595.4K | -$2.5M | -$7.4M | -$8.0M | -$43.3M | -$71.6M | |
| EPS (Diluted) | -1.15 | -1.00 | -4.26 | -12.80 | -13.54 | -23.04 | -41.93 | |
| EBITDA | -$658.9K | -$595.1K | -$2.3M | -$6.9M | -$7.2M | -$45.4M | -$62.6M | |
| Shares Out. (M) | 0.58 | 0.58 | 0.58 | 0.58 | 0.59 | 1.88 | 3.54 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | — | — | $55.1K | $96.4K | $513.4K | $18.0M | $24.6M | |
| Short-Term Investments | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | — | — | $55.1K | $96.4K | $1.4M | $52.7M | $63.4M | |
| Total Assets | — | — | $55.1K | $96.4K | $1.4M | $130.4M | $137.4M | |
| Total Current Liabilities | — | — | $3.8M | $6.5M | $4.1M | $26.0M | $32.0M | |
| Long-Term Debt | — | — | $0.00 | $0.00 | $0.00 | $31.4M | $69.9M | |
| Total Liabilities | — | — | $3.8M | $6.5M | $4.1M | $91.5M | $138.9M | |
| Stockholders' Equity | — | — | -$3.7M | -$6.4M | -$2.7M | $38.9M | -$1.5M | |
| Retained Earnings | — | — | -$6.1M | -$13.5M | -$21.5M | -$64.8M | -$113.3M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | — | — | -$1.6M | -$981.0K | -$5.8M | -$22.6M | -$42.3M | |
| Capital Expenditure | — | — | $0.00 | $0.00 | $0.00 | -$99.0K | -$295.0K | |
| Free Cash Flow | — | — | -$1.6M | -$981.0K | -$5.8M | -$22.7M | -$42.6M | |
| Investing Cash Flow | — | — | $0.00 | $0.00 | $0.00 | -$5.2M | -$5.4M | |
| Financing Cash Flow | — | — | $1.6M | $1.0M | $6.2M | $45.3M | $72.2M | |
| Issuance of Stock | — | — | $0.00 | $255.4K | $6.1M | $27.6M | $27.6M | |
| Repurchase of Stock | — | — | $0.00 | $0.00 | -$166.5K | $0.00 | $0.00 | |
| Net Debt Issuance | — | — | $400.0K | $766.9K | $321.4K | $17.7M | $17.3M | |
| Stock Based Comp. | — | — | $110.1K | $1.7M | $1.8M | $0.00 | $0.00 | |
| Net Change in Cash | — | — | $55.1K | $41.3K | $417.1K | $17.5M | $24.4M |
Dilution Tracker
Shares outstanding grew 226.0% over 5 years — significant dilution
Shares Outstanding
4M
5-Year Share Growth
+226.0%
Stock Issuance (TTM)
$27.6M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.58 | 0.58 | 0.58 | 0.58 | 0.59 | 1.88 | 3.54 | |
| Change vs Prior % | — | 0.0% | 0.0% | 0.0% | 1.9% | 220.0% | 88.2% | |
| Stock Issuance | — | — | $0.00 | $255.4K | $6.1M | $27.6M | $27.6M | |
| Stock Repurchase | — | — | $0.00 | $0.00 | -$166.5K | $0.00 | $0.00 | |
| Stock Based Comp. | — | — | $110.1K | $1.7M | $1.8M | $0.00 | $0.00 |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 100.0% | — | — | — | — | 44.2% | 54.7% | |
| Operating Margin % | -677.2% | — | — | — | — | -193.1% | -133.4% | |
| Net Margin % | -330.4% | — | — | — | — | -257.9% | -165.2% | |
| EBITDA Margin % | -329.6% | — | — | — | — | -270.4% | -144.5% | |
| FCF Margin % | — | — | — | — | — | -135.1% | -98.4% | |
| ROE % | 0.0% | 0.0% | 66.3% | 114.5% | 293.1% | -111.4% | -218.9% | |
| ROA % | 0.0% | 0.0% | -4464.2% | -7657.1% | -581.0% | -33.2% | -52.1% | |
| ROIC % | 0.0% | 0.0% | 73.2% | 132.6% | 1434.0% | -26.4% | -49.4% | |
| R&D / Revenue % | 69.3% | — | — | — | — | 7.3% | 3.0% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | 38.0% | -176.3% | -196.0% | -10.3% | -328.3% | |
| Net Income | 0.0% | 9.9% | -312.9% | -200.2% | -7.8% | -444.5% | |
| EPS (Diluted) | 0.0% | 13.0% | -326.0% | -200.5% | -5.8% | -70.2% | |
| Operating Cash Flow | 0.0% | 0.0% | 0.0% | 37.4% | -490.4% | -290.0% | |
| Free Cash Flow | 0.0% | 0.0% | 0.0% | 37.4% | -490.4% | -291.7% | |
| R&D Expense | 0.0% | 50.8% | 87.4% | 558.5% | -54.3% | 4.1% | |
| SG&A Expense | 0.0% | -55.5% | 205.8% | 122.3% | 49.2% | 480.0% | |
| Total Assets | 0.0% | 0.0% | 0.0% | 75.0% | 1320.4% | 9424.0% | |
| Book Value / Share | 0.0% | 0.0% | 0.0% | -73.9% | 58.7% | 547.7% | |
| Debt | 0.0% | 0.0% | 0.0% | 134.8% | 72.3% | 1493.2% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 0.0% | 1.9% | 220.0% |
Valuation
P/E (TTM)At Loss
P/S0.83
P/B-22.07
EV/EBITDAAt Loss
EV/Revenue1.95
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$113.99
Cash / Share
$6.94
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -10.26 | -11.80 | -2.77 | -0.92 | -0.87 | -1.35 | -0.22 | |
| P/S Ratio | 34.04 | 0.00 | 0.00 | 0.00 | 0.00 | 3.47 | 0.83 | |
| P/B Ratio | 0.00 | 0.00 | -1.84 | -1.06 | -2.55 | 1.50 | -22.07 | |
| EV/EBITDA | 0.00 | 0.00 | -3.15 | -1.16 | -1.20 | -1.65 | -1.35 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.47 | 1.95 |
Analyst Estimates & Quality
Altman Z-Score
-2.04
Distress
Piotroski F-Score
4
Moderate
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $62.1M | $108.2M | $154.8M |
| Net Income | -$29.9M | -$5.0M | -$2.4M |
| EPS | $-16.27 | $-4.21 | $0.93 |
| # Analysts (EPS) | 4 | 5 | 6 |
Revenue Segments
By Product
| Segment | 2025 |
|---|---|
| License and Collaboration | $589.0K |