Pelthos Therapeutics Acquires Xeglyze For $1.8M From Hatchtech

Pelthos Therapeutics Inc. (NYSE American: PTHS), a biopharmaceutical company committed to commercializing innovative therapeutic products for unmet patient needs ("Pelthos"), today announced it has acquired Xeglyze® (abametapir) from Hatchtech Pty Ltd., an Australian biotech company, for $1.8 million.

Xeglyze is a pediculicide indicated for the topical treatment of head lice infestation in patients 6 months of age and older. The prescription medication was approved by the U.S. Food and Drug Administration ("FDA") in July 2020.

The acquisition will provide Pelthos with the ability to commercialize Xeglyze worldwide, and there are no future milestone, royalty or other payments owed to Hatchtech.