Richard Malamut, who serves on the board of Pelthos Therapeutics Inc (NASDAQ: PTHS), reported the sale of 590 shares of common stock on April 2, 2026, in a Form 4 filing with the Securities and Exchange Commission.
The disposition was executed in two separate trades. The first involved 310 shares sold at a weighted average price of $20.5126, producing proceeds of $6,359. The per-share prices for that lot ranged from $20.30 to $20.78. The second transaction covered 280 shares sold at a weighted average price of $21.3612, resulting in proceeds of $5,981. Prices in the second lot ranged from $21.31 to $22.03. Combined, the two transactions generated $12,340 in gross proceeds.
Following these sales, Malamut directly holds 27,422 shares of Pelthos common stock. He also has an indirect interest in 1,040 shares held jointly with his spouse, as disclosed in the filing.
The filing states the trades were carried out pursuant to a prearranged trading program under Rule 10b5-1, which was adopted on December 16, 2025. The plan was put in place to satisfy estimated tax obligations arising from the vesting of restricted stock units granted by Pelthos Therapeutics Inc.
Market snapshots included with the filing note the stock has since traded up to $24.38. Despite that intraday move, shares remain down 34% year-to-date. An InvestingPro analysis included in the reporting indicates the stock appears overvalued at current levels, with an InvestingPro Fair Value indicating limited upside potential.
The insider sale came against a backdrop of mixed financial results and operational milestones at the company. Pelthos reported a significant earnings miss for the fourth quarter of 2025, posting an earnings per share (EPS) of -6.87 versus a forecasted -0.54. At the same time, the company reported sequential momentum in revenue, with fourth-quarter revenue rising 28% from the prior quarter to $9.1 million.
Pelthos also disclosed year-end product contributions, reporting net product revenue of $16.2 million for 2025 linked to the launch progress of their drug ZELSUVMI. In the analyst community, Oppenheimer raised its price target for Pelthos to $62 from $60 and maintained an Outperform rating, citing recent financial performance and the company’s product launch.
On the clinical front, a Pelthos subsidiary, Channel Pharmaceutical Corporation, has dosed the first patient in a Phase 1b/2a clinical study of CT2000 for the treatment of eye pain. That trial is being conducted through Channel’s Australian subsidiary, according to the company disclosures.
These filings and corporate updates provide a current view of Pelthos’ insider activity, financial trajectory, and early-stage clinical development. The sale by a board member under a prearranged plan to meet tax obligations related to restricted stock vesting is explicitly stated in the Form 4 filing and is reported in the context of Pelthos’ recent quarterly results and operational progress.