Pelthos Therapeutics Inc.

Pelthos Therapeutics Inc. (CHRO) priced its initial public offering on Feb 20, 2024 at $6.00 per share, within its $5.50–$6.50 range, raising $6.6M, and listed on NYSE American. At the IPO price its market capitalization was about $34.6M. A.G.P. was lead-left underwriter. Sullivan & Worcester advised the company and Manatt, Phelps & Phillips advised the underwriters.

At its 2024 IPO, Chromocell Therapeutics Corporation (now Pelthos Therapeutics) was a clinical-stage biotech company developing pain therapeutics that selectively target the NaV1.7 sodium ion channel, including its candidate CC8464, and holding a license for spray formulations of existing drugs.

Status

IPO

Ticker

CHRO

Exchange

NYSE American

Priced

Feb 20, 2024

IPO price

$6.00

Price range

$5.50–$6.50

Raised

$6.6M

Market cap at IPO price

$34.6M

First filed

Jan 11, 2023

Underwriters

A.G.P.

Company counsel

Sullivan & Worcester

Underwriters' counsel

Manatt, Phelps & Phillips

Sector

Biotech & pharma

Country / state

NC

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.