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Botanix Pharmaceuticals (ASX:BOT), a dermatology company, suffered a sharp fall after a disappointing product launch update. In July 2025, SG Hiscock, Monash Investors and Salter Brothers all reported Botanix as a key detractor after a softer-than-expected launch update for Sofdra, its treatment for excessive underarm sweating, sent the shares down more than 50%. NorthStar noted strong growth in patient numbers and prescribers, but cash sales fell well short of expectations. Lennox remains interested despite the soft sales update. Botanix operates in the Healthcare sector within the Pharmaceuticals industry, and Thesis Tracker has captured 12 comments from 7 fund managers, including SG Hiscock, Monash Investors, Salter Brothers, NorthStar and Lennox. Headquartered in West Perth, Botanix develops and commercialises dermatology products, led by Sofdra, an FDA-approved topical treatment for primary axillary hyperhidrosis sold in the United States.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Salter Brothers, Monash Investors, SG Hiscock & Company, Firetrail Investments, Antares Capital, Lennox Capital Partners and NorthStar Impact Funds have invested in Botanix Pharmaceuticals Ltd (ASX:BOT).
NorthStar highlights strong growth in Sofdra patient numbers and unique prescribers, and Lennox remains interested in the long-term opportunity as an FDA-approved treatment in an underserved market.
Fund managers highlight Sofdra cash sales well below expectations, prompting a more than 50% share price fall and resetting market expectations about the pace of the US launch.
Botanix Pharmaceuticals Ltd. is a dermatology company specializing in the research and development of antimicrobial and dermatological products. Headquartered in West Perth, Australia, the firm operates across markets in Australia and the United States. Founded in 1984 by Matthew Callahan, Roger New, and Glen Travers, Botanix focuses on advancing medical treatments within the dermatology sector. The company provides investors with insights into its clinical pipeline and operational activities across its primary geographical segments.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.