First Sofdra Prescriptions as Commercialisation Ramps Up

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Stock Botanix Pharmaceuticals Ltd (BOT.ASX)
Release Time 17 Dec 2024, 8:18 a.m.
Price Sensitive Yes
 First Sofdra Prescriptions as Commercialisation Ramps Up
Key Points
  • Patient Experience Program underway with first prescriptions issued and Sofdra delivered to patients
  • Inventory build and logistics infrastructure testing completed to support full commercial launch in Q1 2025
  • Marketing and sales materials developed, tested and refined
Full Summary

Botanix Pharmaceuticals Ltd (ASX: BOT) has announced that first prescriptions for Sofdra (sofpironium) topical gel, 12.45% have been shipped to patients, after having successfully been diagnosed via telemedicine and cleared insurance approvals. This represents a significant milestone for the company as it transitions into a revenue generating commercial stage pharmaceutical company with the full commercial launch of Sofdra in Q1 2025. The Sofdra Patient Experience Program was launched last month in partnership with the International Hyperhidrosis Society, with the first pilot participants attending information webinars, completing health questionnaires and then electing to proceed through telehealth to be diagnosed and secure their first prescriptions for Sofdra. The company has also completed multiple manufacturing campaigns, bottled and packaged finished product, and tested the logistics infrastructure responsible for transport, warehousing and supply to the pharmacy network. Building on prior research, the team has undertaken additional patient and physician research and developed, tested and produced numerous marketing and sales materials and tools to support product launch and communications. The sales force has been engaged and will join full time in January in the lead up to the launch meeting later that month. Botanix is finalizing coverage with the last of the commercial payers in advance of launch, and is already seeing Sofdra prescriptions being reimbursed in line with the pricing and restrictions already contracted or previously negotiated with payers.

Guidance

The company looks forward to providing further updates on prescription volumes, refill rates and revenue growth in the new year.