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Botanix Pharmaceuticals Limited
(Sydney:BOT)
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Rating:43Neutral
Price Target:
AU$0.02
▼(-10.00% Downside)
Action:Reiterated
Date:09/25/26
The score is primarily held down by weak financial performance—persistent large losses, negative gross profitability, and heavy cash burn—despite accelerating revenue growth and a balance sheet with reduced debt. Technicals are also weak versus key moving averages with only neutral-to-soft momentum. Valuation metrics provide limited support due to negative earnings and no dividend yield data.
Positive Factors
Accelerating Revenue
The sharp increase in annual revenue indicates stronger commercial traction for the company’s products and supports a more substantial operating base. If this growth persists, greater scale could improve the ability to absorb development costs and move toward sustainable profitability over the next several quarters.
Negative Factors
Persistent Unprofitability
Persistent operating and net losses, combined with deeply negative gross profit, show that revenue growth has not yet translated into a viable earnings model. This weak profitability can constrain reinvestment, erode equity, and leave the company dependent on continued funding while it scales its products.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue
The sharp increase in annual revenue indicates stronger commercial traction for the company’s products and supports a more substantial operating base. If this growth persists, greater scale could improve the ability to absorb development costs and move toward sustainable profitability over the next several quarters.
Read all positive factors
Botanix Pharmaceuticals Limited (BOT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$49.71M
Dividend YieldN/A
Average Volume (3M)6.30M
Price to Earnings (P/E)―
Beta (1Y)1.10
Revenue Growth499.47%
EPS Growth31.20%
CountryAU
Employees11
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.03
Shares Outstanding2,761,546,100
10 Day Avg. Volume6,586,252
30 Day Avg. Volume6,295,205
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.65
Price to Sales (P/S)1.19
P/FCF Ratio-0.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.57Price Target Upside2750.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.01
Revenue Forecast (FY)AU$61.28M
Botanix Pharmaceuticals Limited Business Overview & Revenue Model
Company Description
Botanix Pharmaceuticals Limited, an Australian enterprise, is dedicated to the discovery and advancement of novel dermatological and antimicrobial therapeutic agents. The company's central mission involves pioneering innovative treatments for wide...
How the Company Makes Money
null...
Botanix Pharmaceuticals Limited Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Neutral
The call conveyed strong commercial momentum — rapid prescription growth, meaningful revenue ramp, a high‑performing fulfillment platform (fill rates ~2.5x industry), positive physician adoption signals (90% expect to increase prescribing) and an attractive IP runway to 2040. Counterbalancing this progress are sizeable operating losses (adjusted EBITDA loss $26.1M; loss before tax $33.2M), material near‑term API purchase obligations and reliance on a partially‑completed capital raise and a single API supplier. Management has identified clear catalysts (alternate API supplier to cut COGS 25%–40%, platform scalability, and $45M committed raise) but execution and funding are key near‑term risks. Overall, the call was upbeat on commercial execution but sober about cash, supply and funding needs.Positive Updates
Rapid prescription and revenue growth
62,500 prescriptions shipped in the first 11 months post‑launch; 45,800 prescriptions in H1 FY2026 vs 16,800 in the prior half (171% increase). Net revenue rose from $5.1M in the second half of FY2025 to $16.2M in H1 FY2026 (219% increase). Total revenue for H1 FY2026 was $16.5M (versus $0.346M prior corresponding period).
Negative Updates
Substantial operating losses and cash burn
Adjusted EBITDA loss for H1 FY2026 was $26.1M and loss before tax was $33.2M. Direct operating expenses totaled $36.6M (including $24.7M sales & marketing and $7M internal employee costs). Company closed the period with $31.6M cash and equivalents, creating sensitivity to continuing funding and execution.
Read all updates
Q2-2026 Updates
Positive
Negative
Rapid prescription and revenue growth
62,500 prescriptions shipped in the first 11 months post‑launch; 45,800 prescriptions in H1 FY2026 vs 16,800 in the prior half (171% increase). Net revenue rose from $5.1M in the second half of FY2025 to $16.2M in H1 FY2026 (219% increase). Total revenue for H1 FY2026 was $16.5M (versus $0.346M prior corresponding period).
Read all positive updates
Company Guidance
Management guided that Botanix will scale Sofdra and its SendRx fulfillment platform while pursuing cost and supply improvements: since launch Sofdra has shipped 62,500 prescriptions (first 11 months) generating almost $100M gross revenue and $21.2M net revenue, and in H1 FY26 prescriptions rose 171% to 45,800 (from 16,800) with net revenue up 219% to $16.2M (total revenue $16.5M incl. royalties); fill/adherence metrics exceed industry benchmarks (~2.5x), the U.S. sales force is 50 reps (expanded Oct‑2025), cash was $31.6M at period end, adjusted EBITDA loss was $26.1M and loss before tax $33.2M, with materials $6.0M, sales & marketing $24.7M, employee costs $7.0M and G&A $3.2M. They have firm commitments for a $45M raise ($14.9M received) with proceeds allocated roughly $12M API/manufacturing, $4M alternate‑API setup, $13.5M marketing, $13M operating/working capital and $2.5M fees, are negotiating to defer near‑term API purchases (Mar/Apr 2026 and Jan 2027), and expect an alternate API to cut COGS 25–40% and improve gross‑to‑net toward ~30–40%; Sofdra’s IP runs to 2040 and the TAM is ~10M patients (≈3.7M actively seeking treatment), with management expecting revenue growth to outpace costs as adoption and payer coverage expand.Botanix Pharmaceuticals Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
54
Neutral
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 34.51M | 5.79M | 601.82K | 914.97K | 2.75M |
| Gross Profit | -59.43M | 2.02M | -6.12M | -3.05M | -7.54M |
| EBITDA | -69.31M | -80.65M | -15.25M | -12.63M | -15.74M |
| Net Income | -69.77M | -86.40M | -13.87M | -9.15M | -13.17M |
Balance Sheet | |||||
| Total Assets | 105.98M | 129.10M | 112.46M | 24.84M | 14.04M |
| Cash, Cash Equivalents and Short-Term Investments | 36.63M | 64.97M | 79.31M | 10.25M | 7.29M |
| Total Debt | 14.74M | 32.51M | 0.00 | 0.00 | 122.41K |
| Total Liabilities | 42.45M | 47.80M | 3.73M | 1.88M | 5.89M |
| Stockholders Equity | 63.52M | 81.30M | 108.73M | 22.95M | 8.15M |
Cash Flow | |||||
| Free Cash Flow | -64.60M | -78.87M | -26.13M | -19.13M | -14.11M |
| Operating Cash Flow | -64.60M | -78.58M | -8.13M | -12.07M | -11.18M |
| Investing Cash Flow | -408.96K | -1.05M | -18.00M | -7.05M | -2.92M |
| Financing Cash Flow | 36.58M | 65.36M | 95.10M | 22.03M | -152.41K |
Botanix Pharmaceuticals Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Positive
0.02
Negative
0.05
Negative
Market Momentum
>-0.01
Negative
46.68
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BOT, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.05, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.68 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BOT.
Botanix Pharmaceuticals Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$408.47M | 11.91 | 13.00% | 0.62% | -1.05% | -6.74% | |
52 Neutral | AU$5.95M | -1.56 | 80.84% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | AU$381.64M | -46.78 | -42.35% | ― | 145.32% | 25.75% | |
46 Neutral | AU$6.12M | -7.14 | -45.29% | 9.09% | 290.25% | 92.05% | |
43 Neutral | AU$49.71M | -0.56 | -118.74% | ― | 499.47% | 31.20% | |
43 Neutral | AU$99.38M | -6.27 | 84.67% | ― | ― | 42.51% |
* Healthcare Sector Average
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Botanix Pharmaceuticals Limited Corporate Events
Botanix Director Increases Equity Stake via Performance Rights Conversion
Sep 23, 2026
Botanix Pharmaceuticals has disclosed a change in director Vincent Ippolito’s interests, following the exercise of performance rights granted under the company’s employee incentive plan. Ippolito converted 4 million performance rights ...
Botanix seeks ASX quotation for 24.9 million new shares
Sep 23, 2026
Botanix Pharmaceuticals has applied for quotation on the ASX of 24,933,333 new ordinary fully paid shares, which were issued on 22 September 2026. The application indicates an expansion of the company’s listed share capital, potentially prov...
S&P Dow Jones Indices Unveils September 2026 Rebalance of S&P/ASX Benchmarks
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX indices, with changes taking effect before trading opens on September 21. The SP/ASX 20 will remain unchanged, while the SP/ASX 50 will see Mineral Resources a...
Botanix Updates Director Patricia Walker’s Equity Holdings After Option Expiry
Aug 31, 2026
Botanix Pharmaceuticals has disclosed a change in director Dr Patricia Walker’s interests, following the expiry and cancellation of 1,000,000 unquoted options exercisable at $0.145 that were due to expire on 22 August 2026. After the change,...
Botanix Pharmaceuticals Options Lapse, Streamlining Capital Structure
Aug 31, 2026
Botanix Pharmaceuticals Ltd has reported the lapse of 1,000,000 options, each exercisable at $0.145 and expiring on 22 August 2026, which ceased on 25 August 2026 after remaining unexercised. The expiry modestly reduces the company’s pool of...
Botanix files updated ASX corporate governance statement for 2026
Aug 26, 2026
Botanix Pharmaceuticals has lodged its updated corporate governance statement for the financial year ended 30 June 2026, confirming it is available on the company’s website and has been approved by the board as at 26 August 2026. The accompa...
Botanix Revenue Surges on Sofdra Launch as Loss Narrows
Aug 26, 2026
Botanix Pharmaceuticals reported a sharp increase in revenue for the year ended 30 June 2026, with customer sales rising 487% to $33.8 million, driven by the first full year of Sofdra’s commercial launch in the United States and royalty inco...
Botanix Issues 14 Million Unquoted Performance Rights Under Incentive Plan
Aug 14, 2026
Botanix Pharmaceuticals has notified the market of the issue of 14,000,000 unquoted performance rights under its employee incentive scheme. The new securities, which are not intended to be quoted on the ASX, were issued on August 11, 2026 and unde...
Botanix Pharmaceuticals Adds 2.3 Million Shares to ASX Quotation
Aug 14, 2026
Botanix Pharmaceuticals has applied for quotation of 2,300,000 additional ordinary fully paid shares on the ASX, with an issue date of Aug. 13, 2026. The application is lodged under Appendix 2A of the ASX Listing Rules, confirming the securities w...
Botanix Pharmaceuticals Updates Market on Lapsing of 3.25 Million ASX Options
Aug 3, 2026
Botanix Pharmaceuticals has notified the market of the cessation of several tranches of ASX-listed options after the conditions attached to these securities were not, or could no longer be, satisfied. The lapsed options, totalling 3.25 million sec...
Botanix boosts Sofdra sales, tightens costs and fortifies IP as cash position strengthens
Jul 26, 2026
Botanix Pharmaceuticals reported strong growth for the June quarter, with Sofdra prescriptions rising 25% to 33,358 and June setting a record monthly shipment of 12,895. Gross sales climbed to $46.7 million and unaudited net revenue rose 45% to $1...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.