Botanix Pharmaceuticals (ASX:BOT) has closed a $10M placement to new and existing institutional investors.
It will use the funds to progress Sofpironium Bromide, its primary axillary hyperhydrosis treatment.
A mid-cycle review for the product has been successfully completed by the US Food and Drug Administration in 1Q 2023, which subject to other information that may be required by FDA, remains on track for approval for Q3 2023.
Botanix Pharmaceuticals' share price is up 58% the past six months.