Pelthos Therapeutics falls as co says will restate Q1 financial statements

Pelthos Therapeutics

13/08/2026 16:18

** Shares of Pelthos Therapeutics PTHS.A fall 1.8% to $28.41 in morning trade 
** Pelthos says has it has identified a material weakness in internal controls over convertible debt valuation and plans to amend its first-quarter report
** Pelthos Therapeutics says it will restate its financial results for the first quarter after finding it incorrectly valued some of its convertible debt
** PTHS says the error involved assumptions used to value convertible debt issued under a January agreement, including extended repayment terms and a feature that can reset the conversion rate
** The restatement will increase the reported fair value of the convertible debt by $15.8 million and raise the company's accumulated deficit by $14.8 million, co says
** As of last close, PTHS stock was down 12% YTD 

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com))