Pelthos Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Pelthos Therapeutics (PTHS) with an Outperform rating and $50 price target The firm says Pelthos emerged from the July merger between Channel Therapeutics and a subsidiary of Legend Biotech controlling rights to the FDA-approved Zelsuvmi. The drug is one of only two products approved in the U.S. for the treatment of molluscum contagiosu available today, and should become the market leader driven by its at-home use by the patient or caregiver, the analyst tells investors in a research note.