Botanix Pharmaceuticals Limited (BOT) has received a new Buy rating, initiated by H.C. Wainwright analyst, Joseph Pantginis.
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Joseph Pantginis has given his Buy rating due to a combination of factors that highlight Botanix Pharmaceuticals Limited’s strong market potential and strategic positioning. The company is well-positioned for growth in the dermatology sector, particularly with its exclusive global rights to Sofpironium Bromide Gel, marketed as Sofdra. This product addresses primary axillary hyperhidrosis, a condition affecting a significant portion of the U.S. population, and represents a substantial market opportunity with a projected market size increase from $1.6 billion to $2.8 billion by 2030.
Early launch metrics for Sofdra indicate promising revenue growth, with the drug recently launched in the U.S. and initial prescriptions already being fulfilled. The commercial launch has shown strong performance, with new patient arrivals and prescriber numbers exceeding expectations. Additionally, refill rates have been high, and gross revenue has more than doubled within a short period. These factors, combined with Botanix’s experienced management team and robust go-to-market strategy, support Pantginis’s optimistic outlook on the company’s potential for sustained revenue growth and market presence.
BOT’s price has also changed moderately for the past six months – from A$0.380 to A$0.295, which is a -22.37% drop .