Botanix Pharmaceuticals Raises $40 Million to Accelerate Sofdra Expansion

Highlights:

• Botanix Pharmaceuticals (ASX: BOT) secured $40 million via institutional placement.
• Funds will expand U.S. sales operations and support Sofdra™’s commercial rollout.
• Early product uptake indicates strong market potential and refill sustainability.

$40 Million Capital Raise Backed by Institutional Investors

Botanix Pharmaceuticals Limited (ASX: BOT), a dermatology-focused biotech company, has secured firm commitments to raise $40 million via a fully supported institutional placement, at the time of writing. The capital raise, priced at A$0.33 per new share—representing a 7% discount to the last traded price before the trading halt—will see the issue of approximately 121.2 million shares. The placement attracted both existing and new investors, with Euroz Hartleys Limited and E&P Capital Pty Ltd acting as joint lead managers.

Funds to Fuel Sofdra™ Commercialisation

Proceeds from the capital raising will primarily be used to accelerate the U.S. rollout of Sofdra™, a novel treatment recently launched in February 2025. Specifically, the funds will support the expansion of the sales force and infrastructure, enhance digital platforms, increase marketing activities, and strengthen logistics and inventory capabilities. Operating costs, general administrative expenses, and placement costs will also be covered. According to Botanix, Sofdra™ has shown strong early traction with over 500 new patients per week, 1,500+ prescribers engaged, and 100% of eligible patients receiving refills in March 2025.

Early Sales Success Encourages Aggressive Growth Strategy

Following the successful launch of Sofdra™, Botanix is accelerating its commercialisation timeline. Gross revenue from Sofdra™ more than doubled between February and March 2025, prompting the company to invest earlier than planned. The initial data indicates a potential refill rate far exceeding industry averages, which typically hover below two total fills per patient. Executive Chairman Vince Ippolito stated, “These funds will allow us to scale rapidly and capitalise on Sofdra’s early momentum in the U.S. market.”

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