Pelthos Therapeutics Inc.

Ladies and gentlemen, good morning and welcome to the Peltos Therapeutics 2026 First Quarter Financial Results Conference Call. At this time, all participants are in listen-only mode. A brief question and answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please signal the operator by pressing star and zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mike Moyer from LifeSite Advisors. Please go ahead.

Good morning, everyone, and welcome to the Peltos Therapeutics 2020-26 First Quarter Financial Results Conference Call. Peltos issued a press release today announcing its financial results for the quarter ended March 31, 2026. A copy can be found in the Investor Relations tab on the corporate website, www.peltos.com. Before we begin, I'd like to remind you that during today's call, statements about the company's future expectations, projections, plans, and prospects are forward-looking statements. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from our current expectations expressed or implied by the forward-looking statement. Any such forward-looking statements represent management's estimates as of the date of this conference call. While the company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change. As a reminder, this conference call is being recorded and will remain available for 90 days. I'd now like to turn the floor over to Scott Plescia, Chief Executive Officer. Sir, you may begin.

Thank you, Mike, and good morning, everyone. We're delighted to be with you today to share with you our first quarter 2026 operating results and highlights. Joining me today are John Gay, our Chief Financial Officer, and Cy Rangaro, our Chief Commercial Officer. The first quarter of 2026 was a successful one for Peltos with strong execution and progress made in several key areas that I'll share at a high level with you. First, we experienced substantial revenue growth driven by increased prescriptions of our lead product, Zell Sue Me, during its third quarter since its launch. Next, we completed the expansion and optimization of our sales force from 50 sales representatives to 64. We believe that the expansion of our sales force and the contract we executed with a major pharmacy benefit manager in December 2025 have been important catalysts in demand for Zell Sue Me since January. Within this PBM, units dispense have doubled, and the number of prescribers has increased 121%. Finally, we continue to make progress in establishing the manufacturing of our two other highly complementary products, Zepi and Zeglyze. John and Sai will provide a more detailed look at the quarter's Zelsumi launch metrics and report of financial results, but I'd like to share a brief overview of results of operations. Our top line results were driven by a 25% increase in prescription units as reported by Symphony Health, which increased from 6,312 units in the fourth quarter of 2025 to 7,884 units in the first quarter of 2026. This drove an increase in net product revenue from $9.1 million during the fourth quarter of 2025 to $10.7 million in the first quarter of 2026. Importantly, we achieved this growth with only a minimal increase in wholesaler inventory, while reducing the days on hand by more than one week from the end of Q4 2025 to the end of Q1 2026. As a reminder, Zelsumi is a novel topical nitric oxide releasing product indicated for the treatment of Molluscum contagiosum, or MC, in patients one year of age and older for up to 12 weeks. Zalsumi is an important advancement in the treatment of MC, as it's the first and only FDA-approved therapy that can be applied by parents, patients, or caregivers in the home or on the go. We believe the opportunity to treat MC at home and without the need for an in-office procedure has been and will continue to be a key driver of Zalsumi demand. We are pleased with the growth delivered in Q1 and are confident we can build on our momentum as units dispensed during April 2026 increased to 3,776 from 3,309 units in March 2026, a 14.1% month-to-month increase. Regarding ZEPI and ZEGLI's. Zepi is a novel, FDA-approved topical treatment for impetigo that addresses a critical, unmet need in antibiotic-resistant skin infections caused by staph and strep infections most commonly affecting children. Impetigo is the most common skin infection in children seen by pediatricians with approximately 3 million patients diagnosed with this bacterial infection each year. We believe Zepi is a highly complimentary product, as it mostly treats children that are managed by the same healthcare providers as Zelsude Me. Importantly, this allows us to leverage our commercial infrastructure, including our expanded sales force. We continue to focus on establishing the manufacturing process and building launch inventory, expect to launch Zepi in early 2027. With respect to Zeglize, Zeglize is a novel FDA-approved product that is highly complementary to Zelsumi and Zepi and is expected to require minimal incremental overhead to commercialize. At the operational level, we are standing up manufacturing for Zeglize and expect to bring it to market in mid-2027. Both Zepi and Zeglize will have meaningful call overlap for existing sales force, providing the company with greater operational and financial leverage from our existing team and infrastructure. Supporting our continued launch execution of Zelsumi and the launch preparation of Zepi and Zeglyze, we closed a $50 million term debt loan in January 2026 of which we drew $30 million. This additional capital strengthens our balance sheet and together with expected revenue growth supports our current business plan. In summary, we are pleased with the strong response from healthcare professionals to Zelsumi as demonstrated by the more than 20,000 units dispensed since its launch in July of 2025. We continue to plan for the upcoming launches of Zepi and Zeglyze, two complementary FDA-approved products. We'll continue to evaluate and optimize our commercial strategy to drive sustainable long-term shareholder value. I'll now turn it over to Sai to provide more specifics on the results of the Zelsumi launch and key performance indicators. Sai?