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Botanix Pharmaceuticals Limited ( (AU:BOT) ) has provided an update.
Botanix Pharmaceuticals announced that it has received a partial waiver from the ASX Listing Rule 7.5.4, which would have allowed the company to seek shareholder approval for the ratification of a loan facility agreement at its annual general meeting. However, the company has decided not to rely on this waiver, as its current placement capacity is sufficient to meet its obligations. This decision indicates a strong financial position and operational flexibility, potentially reassuring stakeholders about the company’s ability to manage its financial commitments without diluting shareholder value.
The most recent analyst rating on (AU:BOT) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on Botanix Pharmaceuticals Limited stock, see the AU:BOT Stock Forecast page.
More about Botanix Pharmaceuticals Limited
Botanix Pharmaceuticals Limited is a dermatology company headquartered in Philadelphia and Phoenix, USA. The company specializes in developing treatments for dermatological conditions and has received FDA approval for its lead product, Sofdra™, which is designed to treat primary axillary hyperhidrosis, a condition characterized by excessive underarm sweating.
Average Trading Volume: 8,802,218
Technical Sentiment Signal: Sell
Current Market Cap: A$285.7M
Find detailed analytics on BOT stock on TipRanks’ Stock Analysis page.