DURHAM, N.C. — January 13, 2026 — Leads & Copy — Pelthos Therapeutics Inc. (NYSE American: PTHS) has secured financing from Horizon Technology Finance Corporation (NASDAQ: HRZN), with an initial funding of $30 million and up to $20 million for future growth.
The biopharmaceutical company, committed to commercializing innovative therapeutic products, announced the financing from Horizon, an affiliate of Monroe Capital. The funding aims to support the commercialization of Pelthos’ cutaneous infectious disease product portfolio, strengthen its balance sheet, and expand access to ZELSUVMI, an FDA-approved treatment for molluscum.
Scott Plesha, CEO of Pelthos, stated that the transaction with Horizon provides the flexibility and resources to accelerate the commercialization of their product portfolio and bring ZELSUVMI to those in need. The company’s strategy focuses on providing treatment options for patients, particularly children and families, dealing with communicable infections.
Paul Seitz, Chief Investment Officer of Horizon, expressed pleasure in partnering with Pelthos, citing their experience, expertise, and commitment to delivering results across a portfolio addressing unmet needs in dermatologic treatments. Horizon looks forward to supporting Pelthos’ continued growth as they expand access to innovative treatments.
Horizon funded $30 million at closing, with an additional $20 million available upon achieving certain milestones. The interest rate is Prime plus 3.75%, currently at 10.50%, paid only on drawn capital. The term is sixty months, with amortization beginning at month thirty-six or potentially month 48 if certain milestones are met. Pelthos issued Horizon warrants to purchase 65,488 shares of its common stock at an exercise price of $27.49 per share.
The proceeds from the financing will be used to support the commercialization of ZELSUVMI™, launch Xepi® and Xeglyze®, and for working capital and general corporate purposes. According to Pelthos, the capital raised is non-dilutive to existing shareholders, except for the shares issuable upon exercise of the warrants.
Frank Knuettel II, CFO of Pelthos, thanked Horizon for their commitment and professionalism in completing the transaction. He noted that investor excitement grows with understanding of the molluscum virus burden and ZELSUVMI’s benefits. The credit facility demonstrates their intent to manage equity capitalization efficiently while launching their first three products.
As of September 30, 2025, Pelthos had $14.2 million in cash, cash equivalents, and investments, augmented by $18.0 million in convertible notes issued on November 6, 2025.
Oppenheimer & Co. served as financial advisor, and Morgan, Lewis & Bockius LLP and Sullivan & Worcester LLP acted as legal advisors to Pelthos. Holland & Knight LLP served as legal advisor to Horizon.
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company providing capital to venture capital and private equity-backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. Pelthos Therapeutics is a biopharmaceutical company focused on commercializing therapeutic products for unmet patient needs. Its lead product, ZELSUVMI™ (berdazimer) topical gel, 10.3%, was approved by the FDA in 2024 for treating Molluscum contagiosum.
Contacts:
Investors: Mike Moyer, Managing Director, LifeSci Advisors, LLC, mmoyer@lifesciadvisors.com
Media: Kellie Walsh, KWM Communications, pelthos@kwmcommunications.com, (914) 315-6072
Horizon Investor Relations: Garrett Edson, ICR, ir@horizontechfinance.com, (860) 284-6450
Horizon Media Relations: Chris Gillick, ICR, HorizonPR@icrinc.com, (646) 677-1819
Source: Pelthos Therapeutics
