Pelthos Reports 45% Revenue Growth as ZELSUVMI Molluscum Launch Surpasses 30,000 Units Dispensed
核心洞察
ZELSUVMI net product revenue grew 45% quarter-over-quarter to $15.4 million in Q2 2026, with 11,925 units dispensed by 4,571 unique prescribers, a 48% increase in units.
More than 25,000 patients have been prescribed ZELSUVMI since its July 2025 launch, with total units dispensed surpassing 30,000 and over 8,000 unique HCP prescribers to date.
ZELSUVMI is the first and only FDA-approved at-home treatment for molluscum contagiosum (搜索) in patients aged 1 and older, supported by new expert consensus guidelines published in the Journal of Drugs in Dermatology.
Pelthos Therapeutics (搜索) Inc. (NYSE American: PTHS) reported strong second-quarter 2026 results driven by accelerating adoption of ZELSUVMI (berdazimer) topical gel, 10.3%, the first and only FDA-approved at-home treatment for molluscum contagiosum (搜索) (MC). Net product revenue for ZELSUVMI reached $15.4 million in the second quarter of 2026, a 45% increase from $10.7 million in the first quarter, as prescription units rose 48% from 8,084 to 11,925.
The company, headquartered in Durham, N.C., announced the results on August 13, 2026, marking four full fiscal quarters of commercialization since ZELSUVMI's launch in July 2025. "The growing adoption of Zelsuvmi and an increasing number of prescriptions written contributed significantly to our strong performance in the second quarter," said Scott Plesha, CEO of Pelthos.
Launch Momentum and Prescriber Growth
ZELSUVMI's commercial trajectory has exceeded company expectations in its first full year. More than 25,000 patients have been prescribed ZELSUVMI since launch, and total units dispensed have surpassed 30,000. As of June 30, 2026, 29,126 units had been dispensed and written by 7,414 unique prescribers, with the company reporting more than 8,000 unique HCP prescribers in its latest data.
The number of unique prescribers rose from 3,288 in the first quarter to 4,571 by the end of the second quarter, according to Symphony's Metys Data. Sai Rangarao, a company executive, noted that the company is "adding anywhere from 150 to 200 new prescribers each week," with repeat writers reaching an all-time high of 193 in the most recent week. Refills increased 82% quarter-over-quarter.
Prescribed units in July reached 4,299 versus 4,208 in June, with the week ending July 31st hitting an all-time high of more than 1,000 units dispensed. Management attributed some weekly volatility to summer scheduling dynamics and the July 4th holiday, but expressed confidence in growth for the third quarter.
Clinical Positioning and Guideline Support
ZELSUVMI is a novel topical nitric oxide-releasing product indicated for the treatment of molluscum contagiosum (搜索) in patients 1 year of age and older for up to 12 weeks. As the first and only FDA-approved therapy that can be applied by parents, patients, or caregivers at home, it eliminates the need for in-office procedures.
The product's positioning was reinforced by an August 2026 publication in the Journal of Drugs in Dermatology (JDD) titled "Molluscum Contagiosum (搜索) in the Pediatric Population, Expert Consensus Guidance on Prevention and Treatment." The guidance, led by Nanette Silverberg, includes berdazimer 10.3% gel (ZELSUVMI) as the only at-home available treatment option for MC that can provide clinically meaningful clearance rates. Management described these as "landmark guidelines" representing a significant advancement in MC management.
Payer Coverage and Access
ZELSUVMI's coverage remains strong in 2026, with a 59% coverage rate for commercial insurance plans and 100% coverage for Medicaid. A contract executed with a large pharmacy benefit manager (PBM) at the end of 2025 has been an important demand catalyst, with units dispensed within that PBM increasing 81.3% during the quarter and prescribers increasing 68%.
Gross-to-net (GTN) was 29.6% for the second quarter, in line with expectations, with management guiding toward the mid-30% range going forward. The company aims to offset prescription costs through its copay card program so that prescription cost is "$0 or close to zero for the majority of patients in most instances."
Financial Results
For the second quarter of 2026, Pelthos reported net product revenue of $15.4 million, with aggregate net product revenue of $42.3 million across the four quarters since ZELSUVMI's commercial launch. Cost of goods sold was $3.6 million, including a $0.9 million write-off of commercial API inventory identified through quality control processes related to out-of-spec testing results; the underlying procedural cause was addressed and subsequent API manufacturing has met specifications.
Selling, general and administrative (SG&A) expenses were $27.7 million, a 31% increase from $21.1 million in the first quarter, driven primarily by a $5.3 million non-recurring sales-based milestone related to the ZELSUVMI license. Net loss for the second quarter was $23.4 million, compared to $25.1 million in the first quarter, while adjusted EBITDA improved to negative $5.7 million from negative $8.0 million.
As of June 30, 2026, the company held $24.2 million in cash and $14.5 million in accounts receivable. In January 2026, Pelthos entered into a $50 million senior secured term loan facility with Horizon Technology Finance (搜索), drawing $30 million at close. Based on trailing twelve-month net product revenues of $42.3 million, the company believes it has achieved access to an additional $10 million under the facility, subject to lender discretion.
Portfolio Expansion Plans
Pelthos is advancing two complementary FDA-approved products. XEPI (搜索) (ozenoxacin) Cream, 1%, a topical treatment for impetigo (搜索), addresses a critical unmet need in antibiotic-resistant skin infections caused by Staph and Strep infections. Impetigo is the most common skin infection in children, with approximately 3 million patients diagnosed annually. The company expects to launch XEPI in the first quarter of 2027.
Xeglyze (abametapir), a topical treatment for head lice (搜索) in patients 6 months of age or older, is expected to reach market in the third quarter of 2027. Both products have meaningful call overlap with the existing sales force, which has expanded to 67 sales territories with new additions in Pittsburgh, Pennsylvania; Albany, New York; and Shreveport, Louisiana.
Management emphasized that these launches will leverage existing commercial infrastructure, requiring "minimal incremental overhead to commercialize." The company continues to evaluate additional business development opportunities, prioritizing novel chemical entities (NCEs) that address unmet market needs rather than "me-too" products.