• Total prescriptions shipped grew 5% for the quarter
• Temporary decline in average gross-to-net yield due to annual deductible reset
• $45 million raised through capital raising to fund API purchases and support growth
• Renegotiated API supply agreement to defer $15 million in purchases over future years

Botanix Pharmaceuticals Limited (ASX:BOT) released its Quarterly Activity Report and Appendix 4C Quarterly Cash Flow Report for the period ended 31 March 2026. Key highlights include a 5% growth in total prescriptions shipped for the quarter, from 25,351 in Q2 FY26 to 26,684 in Q3 FY26, with March setting an all-time high for Sofdra shipments. The average gross-to-net (GTN) yield for the March quarter was 18%, a temporary and expected decline from 24% in Q2 FY26 due to the impact of the annual deductible reset. This resulted in the Sofdra net revenue (unaudited) decreasing from $9.1 million in Q2 FY26 to $6.9 million in Q3 FY26, despite the Company's Q3 FY26 gross sales of Sofdra being $38.0 million. Operating cash outflow increased from $17.2 million in Q2 FY26 to $23.3 million in Q3 FY26, primarily due to a $9.7 million active pharmaceutical ingredient (API) purchase made in March 2026. The company successfully raised ~$45 million (before costs) from a capital raising to fund API purchases and support further growth. Botanix also renegotiated its existing API supply agreement, deferring two payments of ~US$7.5 million over future years, with no purchase required until December 2027. The Company is confident in continuing sales momentum for Sofdra as the hyperhidrosis market enters summer in the United States.

Botanix expects to continue sales momentum for Sofdra as the hyperhidrosis market enters summer in the United States. The Company does not expect to make another API purchase until December CY27 and now has sufficient API inventory for its interim growth needs.