Director Ezra M. Friedberg of Pelthos Therapeutics Inc (NASDAQ:PTHS) sold a total of 558 shares of common stock on April 2, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The divestiture was carried out under an established Rule 10b5-1 trading plan and the stated purpose of the sales was to satisfy estimated tax obligations associated with the vesting of restricted stock units.
The disposition was executed in two separate tranches. In the first transaction, 293 shares were sold at an average price of $20.5121, with individual trade prices spanning from $20.30 to $20.78. The second tranche comprised 265 shares sold at an average price of $21.3612, with prices ranging from $21.31 to $22.03. The aggregate proceeds from both sales amount to $11,670.
Since those trades, Pelthos stock has risen to $24.38; notwithstanding that uptick, the share price remains down 34% year-to-date.
Following these sales, Friedberg's direct holding in Pelthos stands at 82,292 shares. In addition to his direct stake, he maintains indirect holdings of 82,072 shares through Balmoral Financial Group LLC and 40,000 shares through Key Recovery Group LLC.
Market data referenced by InvestingPro highlight volatile price behavior for the stock, noting a beta of 3.99. The service also offers additional analytical ProTips and a suite of financial metrics for deeper examination of PTHS.
Recent company disclosures provide further context to the trading activity. Pelthos reported a substantial earnings shortfall for the fourth quarter of 2025, posting an earnings per share (EPS) of -6.87 versus a consensus forecast of -0.54. At the same time, the company recorded sequential revenue growth of 28%, with fourth-quarter revenue rising to $9.1 million.
On the product and clinical front, Pelthos announced that its subsidiary Channel Pharmaceutical Corporation successfully dosed the first patient in a Phase 1b/2a clinical trial for CT2000, a therapy directed at eye pain. That study is being conducted by Channel’s Australian subsidiary.
Analyst coverage also moved modestly: Oppenheimer raised its price target for Pelthos Therapeutics to $62 from $60 and kept an Outperform rating. The firm cited the company’s year-end financial results and the launch progress of ZELSUVMI when making that adjustment. Pelthos reported net product revenue of $16.2 million for 2025 following a mid-year launch of ZELSUVMI.
These items - insider sales to fund tax obligations, a significant EPS miss alongside sequential revenue gains, clinical trial progress, and an upward tweak to an analyst price target - represent the most recent publicly reported developments for Pelthos Therapeutics.