• Total prescriptions shipped grew 50% to 20,418 in Q1 FY26
• Sofdra Net Revenue increased 65% to $7.1 million
• Operating cash outflow improved 54% to $13.1 million

In Q1 FY26, Botanix Pharmaceuticals continued to see momentum in the commercial launch of its lead product Sofdra (sofpironium) topical gel, 12.45%. Total prescriptions shipped grew by 50% from 13,647 in Q4 FY25 to 20,418 in Q1 FY26. Gross sales of Sofdra were $30.2 million (vs $20.4 million in Q4 FY25) and net revenue (unaudited) to Botanix was $7.1 million (vs $4.3 million in Q4 FY25). The company's gross-to-net (GTN) improved to 23% in Q1 FY26 (vs 21% in Q4 FY25) as it derived additional efficiencies of scale and an increasing percentage of prescriptions received full private payor coverage. Botanix's operating cash outflow improved significantly in the quarter, decreasing from $28.4 million in Q4 FY25 to $13.1 million in Q1 FY26. The company has a strong balance sheet with cash of $49.2 million at 30 September 2025 and undrawn debt of $15.2 million. Botanix has also successfully completed the planned sales force expansion from 27 to 50 sales professionals, and expects the strong growth in Sofdra sales to continue in Q2 FY26 and accelerate in Q3 FY26.

Botanix expects Sofdra gross sales to continue growing in Q2 FY26 and accelerate in Q3 FY26, driven by the expanded 50-person sales force. The company aims to achieve an average gross-to-net (GTN) ratio in the range of 30%-40% over time, as is typical for successful US dermatology pharmaceutical companies.