Companies · Pharmaceuticals

Pelthos Therapeutics Inc.

DURHAM · Pharmaceuticals

Diligence memoA one-page analyst read on Pelthos Therapeutics Inc. — recommendation, valuation, rhythm, risks.
$98.8M
Total raised · real
4
Rounds
0.4×
Latest step-up
Top 10%
Sector rank · raised
Series C
Latest stage · inferred · Thu Nov 06 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Pelthos Therapeutics Inc. looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the pharma sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.66× the median modeled value of Series C Pharmaceuticals companies in 2025–2027 (26 peers) — value vs value, same stage and era.
Active
  • Last raise 8 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Pharmaceuticals

Pelthos Therapeutics Inc. is one of 1613 Pharmaceuticals companies tracked from DURHAM. By capital raised it ranks among the largest (ahead of 91% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
8
Investors (latest)
2021
Year incorporated
2025-11-06
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MPre-Seed · 2024-07-24 Raised $750K (real) Modeled valuation $3.3M (est)$750K$3.3MPre-Seed2024Series B · 2024-08-06 Raised $30M (real) Modeled valuation $202M (est)$30M$202MSeries B2024Series C · 2025-07-01 Raised $50M (real) Modeled valuation $310M (est)$50M$310MSeries C2025Series C · 2025-11-06 Raised $18M (real) Modeled valuation $99M (est)$18M$99MSeries C2025+$30M+$50M+$18MCumulative $99M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$750K · 2024
Series B$30.0M · 2024no Seed / Series A on file
Series C$50.1M · 2025
Series C extension$18.0M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$98.6M
Base estimate est.
$58.5M
Conservative case
$124.4M
Upside case
$120.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $3.3M · 2024-07-242024Series B · modeled $202.0M · 2024-08-06Series C · modeled $309.9M · 2025-07-01Series C · modeled $98.6M · 2025-11-062025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
1.42×/yr
Annual markup
1.62×/yr upside case
0.7 yr
Elapsed time used
0.7 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$76.8M/yr
Capital velocity
1.9 yr
On record since
2024
First round
4
Rounds on file
How it compares to the market

Benchmarked against 1613 companies in Pharmaceuticals. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 12× above median
This company$98.8M
Sector median$8.1M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.4× of median
This company$18.0M
Sector median$46.4M
Modeled value — vs sector median (estimate, all stages) 1.3× above median
This company$98.6M
Sector median$76.1M

Raised more than 91% of sector peers (real $). Modeled value above 55% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #16 of 26.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)BlossomHill Therapeutics, Inc. · Series C Raised $245.8M · modeled $452.7M (est)Rivus Pharmaceuticals, Inc. · Series C Raised $223.5M · modeled $416.3M (est)Sparrow Pharmaceuticals, Inc. · Series C Raised $73.3M · modeled $386.6M (est)Arthrosi Therapeutics, Inc. · Series C Raised $132.9M · modeled $385.6M (est)Altesa BioSciences, Inc. · Series C Raised $110.0M · modeled $373.9M (est)Mirum Pharmaceuticals, Inc. · Series C Raised $138.5M · modeled $348.3M (est)Eyenovia, Inc. · Series C Raised $66.0M · modeled $312.6M (est)Alveus Therapeutics, Inc. · Series C Raised $56.9M · modeled $298.1M (est)Aeovian Pharmaceuticals, Inc. · Series C Raised $125.0M · modeled $297.8M (est)Curevo, Inc. · Series C Raised $110.0M · modeled $293.2M (est)Neuropathix, Inc. · Series C Raised $51.3M · modeled $271.0M (est)Verrica Pharmaceuticals Inc. · Series C Raised $77.5M · modeled $269.0M (est)Pelthos Therapeutics Inc. (this company) Raised $98.8M · modeled $98.6M (est)Pelthos Therapeutics Inc.
CompanyStageRaised · realValue · estvs peer med.
BlossomHill Therapeutics, Inc.Series C$245.8M$452.7M3.02×
Rivus Pharmaceuticals, Inc.Series C$223.5M$416.3M2.78×
Sparrow Pharmaceuticals, Inc.Series C$73.3M$386.6M2.58×
Arthrosi Therapeutics, Inc.Series C$132.9M$385.6M2.57×
Altesa BioSciences, Inc.Series C$110.0M$373.9M2.49×
Mirum Pharmaceuticals, Inc.Series C$138.5M$348.3M2.32×
Eyenovia, Inc.Series C$66.0M$312.6M2.08×
Alveus Therapeutics, Inc.Series C$56.9M$298.1M1.99×
Aeovian Pharmaceuticals, Inc.Series C$125.0M$297.8M1.99×
Curevo, Inc.Series C$110.0M$293.2M1.96×
Neuropathix, Inc.Series C$51.3M$271.0M1.81×
Verrica Pharmaceuticals Inc.Series C$77.5M$269.0M1.79×
Pelthos Therapeutics Inc. this companySeries C$98.8M$98.6M0.66×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$750K2024-07-24$4.2M$3.3M90%
Series B$30.0M2024-08-06$166.7M$202.0M90%
Series C$50.1M2025-07-01$334.0M$309.9M90%
Series C$18.0M2025-11-06$120.0M$98.6M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$750K2024-07-24
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series B$30.0M2024-08-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 40.0× larger than the prior — scaling up.
    • 1 investor on this round.
  3. Series C$50.1M2025-07-01
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 13 investors on this round.
  4. Series C$18.0M2025-11-06
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 2.8× smaller than the prior — bridge or down round.
    • 8 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~5mo cadence
$18.0M
Modeled next size est.range $18.0M$28.8M
0.4×
Last step-up
$76.8M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Todd Davis7 other2024-07
Francis Knuettel II4 other2025-07
Matthew Pauls3 other2025-07
Peter Greenleaf2 other2025-07
Chia-Lin Simmons1 other2024-07
Ezra Friedberg1 other2024-07
Eric Lang2024-07
Francis Knuettel2024-07
Richard Baxter2025-07
Richard Malamut2024-07
Sai Rangarao2025-07
Scott Plesha2025-07
Registry & provenance

Pelthos Therapeutics Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1919246
SEC CIK
2021
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Tango Therapeutics, Inc.PharmaceuticalsSeries C$95.0M$83.2Msame sector · same stage
Eyegate Pharmaceuticals IncPharmaceuticalsSeries A$72.9M$92.6Mnetwork1 shared operator · same sector
Solid Biosciences Inc.PharmaceuticalsSeries C$109.2M$139.4Msame sector · same stage
Cortexyme, Inc.PharmaceuticalsSeries C$111.5M$72.0Msame sector · same stage
QurAlis CorpPharmaceuticalsSeries C$118.2M$117.6Msame sector · same stage
Soleno Therapeutics IncPharmaSeries C$98.6M$680.6Mnetwork1 shared operator · same stage
Allena Pharmaceuticals, Inc.PharmaceuticalsSeries C$80.5M$75.1Msame sector · same stage
TearScience, Inc.PharmaceuticalsSeries B$58.9M$653.7Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Progentos Therapeutics, Inc.PharmaSeries C$635.0M83%
Tacitus Therapeutics Inc.PharmaceuticalsSeries A$154.9M82%
Antios Therapeutics Inc.PharmaceuticalsSeries C$1.7B81%
Etheros Pharmaceuticals Corp.PharmaceuticalsPre-Seed$1.9M80%
Aligos Therapeutics, Inc.BiotechnologySeries D+$940.9M80%
Petros Pharmaceuticals, Inc.PharmaceuticalsSeries B$308.0M80%
Psy Therapeutics, Inc.PharmaceuticalsSeries A$108.0M79%
Pelage Pharmaceuticals, Inc.PharmaceuticalsSeries D+$901.6M79%
Frequently asked
How much funding has Pelthos Therapeutics Inc. raised?
Pelthos Therapeutics Inc. has raised approximately $98.8M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Pelthos Therapeutics Inc.'s estimated valuation?
Provath's modeled valuation for Pelthos Therapeutics Inc. is approximately $98.6M (modeled range $58.5M–$124.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Pelthos Therapeutics Inc. at?
Pelthos Therapeutics Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Nov 06.
What does Pelthos Therapeutics Inc. do and where is it based?
Pelthos Therapeutics Inc. operates in the Pharmaceuticals sector, based in DURHAM.
Explore related

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