Analyst Report | 6 April 2023

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Euroz Hartleys has published an analyst note, reporting on the successful completion of Botanix’s FDA mid-cycle review meeting for Sofpironium Bromide, as well as the Company’s recent capital raise.

Analyst Seth Lizée noted that $BOT remains considerably undervalued in comparison to its peers approaching an imminent FDA approval decision and soli data supporting commercial success.

He wrote:

“Importantly, what splits BOT apart from some of its peers, is its capacity to go-to-market and execute on a commercial strategy in house. This places BOT in a significantly stronger negotiating position, as the company is not dependent on securing a licensing agreement or selling the asset to an external party.”

Read the full report

Botanix secures commitments for A $10 million via institutional placement

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Botanix lifted a trading halt this morning, sharing news that it has secured commitments of
A$10.0million via institutional investors to accelerate the marketing and launch activities for
Sofpironium Bromide.


Proceeds from the Placement will be used to progress Botanix’s lead development
program, Sofpironium Bromide gel (15%), including costs associated with completing
FDA review, manufacturing, satisfying milestone payments and preparing for commercial
launch in the United States, as well as general working capital purposes and costs of the offer.


Botanix Executive Chairman, Vince Ippolito, commented:
“We are very pleased to announce this placement to institutional investors who have
actively researched and engaged with Botanix and are prepared to invest at this pivotal point in
the Company’s development.

“We are particularly pleased by the support from new institutional investors as they take
the opportunity to join Botanix on its journey towards FDA approval and
commercialisation of our lead product, Sofpironium Bromide for primary axillary
hyperhidrosis.”


Click here to read today’s ASX release.

Mid-Cycle Review Complete + Capital Raise

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Botanix has today released an update regarding the progress of its lead product, Sofpironium Bromide, for the treatment of primary axillary hyperhidrosis – a medical condition where excessive sweating occurs beyond what is needed to maintain normal body temperature.

The U.S. Food and Drug Administration (FDA) has now conducted the mid-cycle review meeting for Sofpironium Bromide, and no significant issues have been identified, as a result of the review. This includes no major clinical safety issues, no risk management issues, or advisory board requirements.

The Company has also announced a capital raise to support the next stage of our New Drug Application (NDA) filing.

Click here to read ASX release.

Investor Webinar | March 2023

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Botanix (ASX: BOT) hosted a webinar to update shareholders on the Company’s preparations for the FDA mid-cycle review of Sofpironium Bromide in Q1 2023.

The webinar was hosted by Gautam Aggarwal, a Partner with Triangle Insights Group, who has conducted insightful market research in relation to the Sofpironium Bromide.

Other presenters included Botanix Executive Director, Matt Callahan and Botanix Chief Operating Officer, Dr Howie McKibbon.

Special Report | Stockhead

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Botanix has today appeared in Stockhead in an article titled, ‘As it awaits crucial FDA approval Botanix reckons Aussies have a penchant for backing high-risk companies.’

This special report explores the appetite for Australian investors to back companies with a high risk to reward ratio, and why Botanix stands out as a stock to watch as we move towards the mid cycle review milestone with the Food and Drug Administration (FDA) for our lead product, Sofpironium Bromide.

Botanix COO, Dr Howie McKibbon, has extensive experience at this stage of the biotech race and is quoted in the article:

“The drug has already been launched by our partner in Japan in 2020 and the reaction there has been great, so we are now very busy implementing a full-scale commercialisation

strategy, pending a final FDA approval in Q3 this year.’’

Click here to read the article.

Botanix co-founder says interest for sweat-stopper gel is keeping him bullish ahead of FDA review | The West Australian

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Botanix’s co-founder and Executive Director, Matt Callahan, was featured in a story in The West Australian newspaper by business reporter Cheyanne Encisco.

The article highlighted the FDA’s upcoming mid-cycle review of Botanix’s application for its lead product, Sofpironium Bromide gel, for the treatment of primary axillary hyperhidrosis, also known as excessive underarm sweating.

In the article, Mr Callahan spoke confidently of the imminent mid-cycle review, and that a positive outcome would substantially de-risk the probability of approval.

“We’re very confident going into this review, given all the work that we’ve done, that we’ve ticked all the boxes,” Mr Callahan said.

Read the article

This broker says Botanix Pharma’s share price could more than triple on an FDA approval | Stockhead

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A recent analyst report by Euroz Hartleys predicting significant upside for Botanix if the Company’s Sofpironium Bromide New Drug Application (NDA) is successful, has been featured on Stockhead.

Journalist Eddy Sunarto highlighted the analyst’s prediction that the share price could triple if FDA approval for the treatment of primary axillary hyperhidrosis is achieved in Q3 of this year.

Read the full article.

Analyst Report by Euroz Hartleys – 01 February 2023

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Euroz Hartleys has published an analyst note, reporting that the mid-cycle review for Botanix’s FDA New Drug Application (NDA) for Sofpironium Bromide remains on track for this quarter (Q1 CY23).

Analyst Seth Lizée noted the experience of the Botanix team in securing FDA-approval, and successfully commercialising over 30 products. He classified Botanix as a ‘Speculative Buy, Target Price $0.27’, commenting:

“We believe Sofpironium Bromide could potentially do A$130m of sales in the USA within its first year based on the number of prescriptions the drug is currently doing through its partner in Japan, a country which has a population nearly a third the size of the USA.”

Read the full report

Quarterly Activities Report and 4C Quarterly Cash Flow Report

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Botanix (ASX:BOT) has today published its Quarterly Activities Report and 4C Quarterly Cash Flow Report, for the period ended 31 December 2022.

Key highlights from this period include:

  • FDA accepted NDA filing for Sofpironium Bromide as sufficiently complete for a substantive review
  • FDA confirmed that a mid-cycle review of the NDA is planned for 1Q 2023
  • Independent market research project completed by Triangle Insights confirms significant revenue opportunity for Sofpironium Bromide and positive feedback from key physician, payer (insurance) and patient stakeholders, who were surveyed on a blinded basis
  • Successfully raised $5.96M via a placement to institutional shareholder Antares Capital and Shareholder Purchase Plan to existing holders
  • Successful Phase 1b/2 clinical study for BTX 1702 in rosacea completed
  • Cash position of $8.72 million at quarter end, with pivotal Sofpironium Bromide mid-cycle review meeting due this quarter

Click here to read today’s ASX release

BOT Video | Not To Be Missed

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Botanix has united three experts to explain why its lead product, Sofpironium Bromide, is on track to define the success of Botanix this quarter.

Hear from one of the world’s most highly experienced dermatology specialists, former head of the American Academy of Dermatology and Founding President of the International Hyperhidrosis Society, Prof. David Pariser; together with Triangle Insights Group Partner and respected markets commentator, Gautam Aggarwal; and Botanix Chief Operating Officer, Dr. Howie McKibbon.

Together, they explain the scope of the market opportunity that Botanix is chasing for Sofpironium Bromide and how this product could positively impact peoples’ lives.