Botanix Pharmaceuticals Raises A$40 Million Through Share Placement

An update from Botanix Pharmaceuticals Limited ( (AU:BOT) ) is now available.

Botanix Pharmaceuticals Limited has successfully raised A$40 million through the issuance of 121,212,122 new fully paid ordinary shares at A$0.33 each. This capital raise, announced earlier in April, allows the shares to be traded immediately under the exemption provided by section 708A(5) of the Corporations Act. This move is expected to strengthen Botanix’s financial position, enabling further development and commercialization of its dermatological products.

More about Botanix Pharmaceuticals Limited

Botanix Pharmaceuticals Limited is a dermatology company based in Philadelphia and Phoenix, specializing in innovative treatments for skin conditions. The company has gained FDA approval for its lead product, Sofdra™, which is the first new chemical entity approved to treat primary axillary hyperhidrosis, offering a novel solution for patients with limited treatment options.

YTD Price Performance: -3.41%

Average Trading Volume: 9,786,343

Technical Sentiment Signal: Sell

Current Market Cap: A$723.9M

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