Pelthos Q3 Zelsuvmi revenue jumps 114%, net loss narrows

Overview

• US dermatology drugmaker's Q3 Zelsuvmi revenue rose 114% yr/yr to $15.2 mln

• Net loss for Q3 narrowed to $7.9 mln from $16.2 mln a year ago

• Company to merge with Castle Creek to form diversified biotech

Outlook

• Pelthos expects continued growth for Zelsuvmi as coverage and access expand

• Company targets Xepi launch in Q1 2027 and Xeglyze launch in Q3 2027

• Pelthos expects Castle Creek merger to close by end of Q1 2027

Result Drivers

• ZELSUVMI UTILIZATION - Co said Q3 Zelsuvmi revenue growth was driven by increased use by healthcare providers and expanded access

• EXPANDED COVERAGE - Co cited increased formulary coverage, reaching 127 mln commercially covered lives and strong Medicaid coverage, as supporting Zelsuvmi access

• COST OF GOODS SOLD - Co reported a reduction in cost of goods sold, citing lower inventory-related charges compared to prior periods

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Pelthos Therapeutics Inc is $50.00, about 432.5% above its November 11 closing price of $9.39

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)