March 2025 Quarterly Activities Report and Appendix 4C
| Stock | Botanix Pharmaceuticals Ltd (BOT.ASX) |
|---|---|
| Release Time | 24 Apr 2025, 2:05 p.m. |
| Price Sensitive | Yes |
Botanix Pharmaceuticals reports successful Sofdra launch
- New patient arrivals trending over 500 per week, at a run rate of 2,000+ per month
- Individual prescriber numbers exceeding 400 per week, with over 1,500 prescribers since launch
- Refills in March reached 100% of eligible patients
Botanix Pharmaceuticals has released its Quarterly Activity Report and Appendix 4C Quarterly Cash Flow report for the period ended 31 March 2025. The key highlights include the completion of the commercial launch of Sofdra (sofpironium) topical gel, 12.45% and the deployment of the sales force in February 2025. The launch has been very successful, with new patient arrivals now trending to more than 500 a week, at a run rate of more than 2,000 per month. Individual prescriber numbers are now exceeding 400 per week, and more than 1,500 prescribers have written Sofdra prescriptions since the sales force has launched. Refills in March 2025 reached 100% of eligible patients, with the patients from the original pilot launch in December now receiving their 5th refill. Gross revenue from Sofdra more than doubled from February 2025 to March 2025. Based on the early performance of Sofdra, the company has secured commitments for a $40 million capital raise to accelerate sales, marketing, and support activities, as well as expand the sales force and infrastructure, widen the digital platform and marketing/conference activities, and invest in inventory and logistics. The company closed the quarter with cash of $28.08 million and has received a further $40 million from the capital raise, resulting in a total cash position of approximately $65 million.
The company reported $4.99 million in gross revenue for the March 2025 quarter, with revenue doubling from $1.47 million in February to $3.26 million in March. The company expects to continue growing new patient arrivals and revenue from Sofdra sales.
Botanix Pharmaceuticals is focused on accelerating the commercialization of Sofdra, with plans to expand the sales force and infrastructure, widen the digital platform and marketing activities, and invest in inventory and logistics to support the growing demand for the product.