• Sofdra launch shows increasing momentum with strong growth in prescriptions and revenue
• Raised $40 million via institutional placement and secured $30 million debt facility
• Expanded sales force from 27 to 33 in Q1 FY2026 with further planned expansion to 50 in Q2

Botanix Pharmaceuticals reported strong Q4 FY2025 results for its lead product Sofdra (sofpironium topical gel, 12.45%), with total prescriptions shipped growing by 324% from 3,222 in Q3 to 13,647 in Q4. This was driven by higher new patient arrivals (7,053 in Q4 vs 2,975 in Q3) and strong refill rates. Unique prescribers grew 115% from 1,075 at Q3 exit to 2,316 at Q4 exit. Q4 gross sales of Sofdra were $20.4 million (vs $4.8 million in Q3) and net revenue to Botanix was $4.3 million (vs $0.7 million in Q3). The company exited June with a Gross to Net (GTN) of 23% and aims to achieve an average GTN in the range of 30%-40% over time. Operating cash outflow for the quarter was $28.4 million, primarily driven by $11.2 million in inventory purchases, which are not expected in 1H FY2026. The company raised $40 million via an institutional placement and secured a $30 million debt facility, resulting in a strong balance sheet with $64.9 million in cash at 30 June 2025. The sales force was expanded from 27 to 33 in Q1 FY2026, with a further planned expansion to 50 sales professionals in Q2 FY2026 to support the growing Sofdra launch.

The company expects cash outflow to decline rapidly next quarter as sales of Sofdra continue to gain momentum. With underlying operating costs stable (excluding inventory purchases) and revenues expected to rise quarter on quarter, the company believes it is currently well funded to achieve profitability utilizing its current cash reserves.