Chromocell updates on $6.6M IPO, pipeline progress, and liability reduction

Pelthos Therapeutics Inc.

Closed IPO Feb 21, 2024, gross proceeds ~$6.6M; all pre-IPO debt and Series A preferred converted.
Removed ~$2.7M in liabilities via Series C preferred issuance and CEO compensation deferral.
Lead candidate CC8464 completed Phase I (no euphoria, 4% rash incidence); slow dose escalation planned before Phase II.
New eye pain program CT2000 launched; Dr. Simon Chandler hired; animal toxicity studies expected H2 2024.
10-K delayed due to IPO workload; expects filing within permitted 15-day extension.

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