India, July 2 -- Ligand Pharmaceuticals Inc. (LGND) and Pelthos Therapeutics Inc. announced Wednesday the closing of the previously announced merger agreement with Channel Therapeutics Corp. (CHRO), resulting in the launch of Pelthos as an independent, publicly traded biopharmaceutical company.
Under the deal, CHRO Merger Sub Inc., a unit of Channel, merged with and into LNHC, Inc., a unit of Ligand, with LNHC surviving as a Channel subsidiary.
The combined company will operate under the name Pelthos Therapeutics Inc. and will commence trading on the NYSE American exchange under the new ticker symbol PTHS on July 2.
Further, Pelthos plans to launch ZELSUVMI for the treatment of Molluscum contagiosum infections in July 2025.
The companie...