Per E&P analyst David Nayagam, Sofdra is poised to provide a new treatment option for primary axillary hyperhidrosis, with “a novel and potentially disruptive model for marketing, reimbursement and distribution.” E&P affirms Speculative Buy and $0.55 Price Targe
Euroz Hartleys’ Seth Lizee asserts that “the market opportunity for Sofdra is significant.” Hyperhidrosis is the third largest dermatology condition in the USA with approx. ~10m patients with axillary hyperhidrosis.” Upgraded to Buy and $0.47 Price Target.
Botanix has received firm commitments for $70 million capital raising via an institutional placement. Funds will be applied towards the launch of Sofdra™ (sofpironium) gel, 12.45%, as well as working capital and costs of the placement.
Botanix has submitted the last label materials to the US Food & Drug Administration (FDA) for Sofdra™ a pending prescription treatment for excessive underarm sweating. Label discussions are the final step for Botanix before the anticipated FDA approval of Sofdra and have involved product carton design and wording of information that is provided to patients and physicians about the product.
In new research on Botanix, leading biotech analyst David Nayagam from E&P highlights the “compelling opportunity” that the Company presents and initiates coverage with a speculative buy and $0.55 price target. This increased interest in Botanix comes at a critical time, as we await the commencement of labelling discussions with the FDA – the final regulatory hurdle for Sofdra™ before expected approval in late June 2024.
Euroz Hartleys’ Seth Lizee reviews the Botanix Commercial Day Webinar and maintains a Speculative Buy recommendation with an upgraded $0.33 Price Target.
Lizee expressed increased confidence in the late June FDA approval decision and BOT’s commercial strategy.
Video is now available of the Company’s Commercial Day Webinar presented on 8 May.
The expanded commercial team provides market insights and a comprehensive update on commercial launch plans for Sofdra™, which is expected to be approved in late June 2024.
Botanix Pharmaceuticals (ASX:BOT) is honoured to announce the Company’s inclusion in the ASX All Ordinaries Index. Botanix joins the ranks of the index, based on its strong performance over the last 12 months.
Botanix Chief Executive Officer, Howie McKibbon, commented: “We are humbled to acknowledge the confidence investors have shown in our company, as exemplified by our inclusion in the ASX All Ordinaries Index.”
The performance of Botanix shares has been driven by interest in the Company’s Sofpironium Bromide gel, Sofdra™, which is a topical treatment for excessive underarm sweating that is expected to receive approval from the US FDA in late June. Botanix launch preparations are well underway.
Botanix co-founder and executive director Matt Callahan has been profiled in The West Australian this week, in an article by journalist Cheyanne Enciso titled “Botanix co-founder Matt Callahan says zig-zag career like ‘drinking from a firehose’ “.
The feature outlines Matt’s extensive experience as founder of several ASX-listed companies, and shares his insights into what makes a successful company.
“I think the strongest lesson for me is to work with people who are world class and be prepared to learn from them, be prepared to build networks with people that ultimately can create a great company.”
