3 stories mentioning ASX:BOT
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Botanix Pharmaceuticals (ASX:BOT) has promoted Paul Seaback to chief operating officer, according to a Monday filing with the Australian bourse.Seaback joined the commercial dermatology company in November 2024 as chief technical officer.Shares of Botanix Pharmaceuticals fell 4% in recent Monday trade.
Botanix Pharmaceuticals (ASX:BOT) fiscal third quarter results beat Euroz Hartleys' estimates with the fifth consecutive quarter of prescription growth, according to a Thursday Euroz Hartleys note.Total prescriptions increased 5% quarter-on-quarter to 26,684, slightly above Euroz Hartleys' estimates of 26,500. and gross-to-net yield declined quarter-on-quarter from 24% to 18%, in line with the research firm's expectations.The company's current AU$60 million enterprise value does not fully reflect the AU$34.5 million of inventory held on the balance sheet, the research firm added.The research firm believes that Botanix's Sofdra has the makings of a category leader in hyperhidrosis, a dermatology condition, and added that consistent prescription growth alone, or the addition of a new product to its platform, can potentially re-rate the stock "materially higher."Euroz Hartkeys has a buy rating on Botanix Pharmaceuticals with a price target of AU$0.25.
Botanix Pharmaceuticals (ASX:BOT) agreed to terms with PPL Pharma Solutions Riverview for a proposed manufacturing and supply arrangement for Sofdra, the company's treatment for primary axillary hyperhidrosis, or excessive underarm sweating, according to a Thursday Australian bourse filing.Under the terms, PPL Pharma will start development services and serve as an alternate commercial supplier of sofpironium bromide, the active pharmaceutical ingredient in Sofdra.The technical transfer will start immediately, and the companies will negotiate a definitive commercial active pharmaceutical ingredient supply agreement, the filing said. The establishment of an alternate supplier is anticipated to provide a potential reduction of 25% to 40% in the cost of goods sold and increase gross profit.Botanix Pharmaceuticals' shares jumped nearly 6% in recent trading on Thursday.