As previously reported, Lake Street initiated coverage of Pelthos Therapeutics (PTHS) with a Buy rating and $50 price target The July merger of Ligand’s Pelthos entities with legacy Channel Therapeutics, alongside a $50M financing and relisting, has effectively recapitalized the company as a commercial-stage, pediatric dermatology and infectious disease-focused company, the analyst tells investors. Zelsuvmi is “the natural first-line choice in molluscum contagiosum” and Pelthos is now adding Xepi, a novel, FDA-approved topical agent for impetigo, into the same pediatric/dermatology call point, giving the company “category-leader potential,” the analyst added.
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