Botanix Pharmaceuticals (ASX:BOT) has completed Tranche 2 of the placement to Antares Capital, raising a total of about $5M.
Botanix says its Share Purchase Plan for eligible shareholders closed on November 23, with applications received for 15,246,240 Shares raising $960,504 before costs.
It also says the Plan was undertaken to provide the shareholders the opportunity to apply for up to $30,000 of shares at an issue price of $0.063 each.
Botanix says funds will be used to progress its pipeline of dermatology assets in light of its recent rosacea study, and prepare for FDA approval of its lead product Sofpironium Bromide.