Botanix Pharmaceuticals Limited (AU:BOT) has released an update.
Botanix Pharmaceuticals Limited has received FDA approval for their novel dermatological product, Sofdra™, aimed at treating primary axillary hyperhidrosis. The company has successfully raised $70 million through a placement to fund the launch, which is anticipated to begin with a patient experience program in Q3 2024, followed by a broader digital release in Q4. With a strong cash position and no debt, Botanix is set to target a significant market of approximately 10 million US patients affected by this condition.
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