Channel Therapeutics Announces Reverse Common Stock Split in Conjunction with the Close of the Merger with Pelthos Therapeutics and Concurrent $50.1 Million Private Placement

Reverse Stock Split Announcement: Channel Therapeutics Corporation has announced a 10-for-one reverse stock split of its common stock, effective July 1, 2025, to increase share price and meet NYSE American listing requirements in connection with a merger and capital raise.

Company Focus and Future Plans: The company specializes in developing non-opioid pain treatments and will change its trading name to "Pelthos Therapeutics Inc." following the reverse split, while maintaining its current stock symbol "CHRO" until the merger is completed.