• Sofdra (sofpironium) topical gel approved by FDA, first prescriptions issued in December 2024
• Successful launch preparations with 27 experienced sales representatives now in the field
• Contracts finalized with key US commercial payers representing 167 million lives
• Expect first commercial revenue quarter in Q1 CY2025 with further ramp in Q2

Botanix Pharmaceuticals reported a net loss of $30.9 million for the half-year ended 31 December 2024, driven by expenses related to the launch of its newly approved hyperhidrosis treatment Sofdra (sofpironium). Key highlights include:- Sofdra was approved by the FDA in June 2024, with the first prescriptions issued in December 2024 as part of a patient experience program. All program participants successfully utilized the telehealth platform and received their initial prescriptions and refills.- Botanix has built out its commercial infrastructure, including engaging 27 experienced sales representatives with a strong track record in dermatology. Extensive training has been completed and the sales team is now in the field calling on dermatologists.- The company has finalized contracts with key US commercial payers representing 167 million lives, with simple confirmation of diagnosis required for patient access. Botanix has also completed requirements for government payer programs, providing access to an additional 80 million lives.- With the initial patient experience program complete, Botanix expects Q1 CY2025 to represent the first commercial revenue quarter, with further ramp in Q2. The company plans to provide updates on leading indicators like refill rates, patient satisfaction, and digital marketing performance.- During the half-year, Botanix incurred $8.9 million in product sales and marketing expenses, $6.1 million in employee costs, and ended the period with $17.1 million in inventory to meet anticipated demand.

Botanix expects Q1 CY2025 to represent the first commercial revenue quarter for Sofdra, with further ramp in Q2 CY2025.