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The latest update is out from Chromocell Therapeutics Corp ( (CHRO) ).
On July 1, 2025, Channel Therapeutics completed a merger with LNHC, resulting in a name change to Pelthos Therapeutics, Inc. and a reverse stock split. The merger led to a significant restructuring of the company’s board and executive team, with LNHC securityholders owning a majority stake. Concurrently, the company raised approximately $50.1 million through a private placement of Series A Convertible Preferred Stock. This financing and merger are expected to enhance the company’s market position and operational capabilities, while the reverse stock split aims to increase the market price per share to meet NYSE American listing requirements.
More about Chromocell Therapeutics Corp
Channel Therapeutics Corporation, now known as Pelthos Therapeutics, Inc., is a clinical-stage biotechnology company focused on developing and commercializing novel, non-opioid, non-addictive therapeutics for pain relief. The company primarily targets the sodium ion-channel NaV1.7 to treat various types of systemic chronic pain, acute and chronic eye pain, and post-surgical nerve blocks.
Average Trading Volume: 757,281
Technical Sentiment Signal: Sell
See more insights into CHRO stock on TipRanks’ Stock Analysis page.