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Botanix Pharmaceuticals: Ends Q1 FY21 financially strong

October 13, 2020

Botanix Pharmaceuticals has released its September quarterly report, showing the company ended the period with a strong $22.1M in the bank
That’s enough cash to keep Botanix going for 8.6 quarters if its operational spend rate remains steady
In terms of activities, the company reported progress in its BTX 1801 treatment, with data showing the compound effectively kills superbugs
Botanix also significantly progressed its BTX 1503 acne program after holding a positive meeting with the FDA
Then the FDA allowed several study waivers normally required for dermatology drug registration, highlighting the safety of BTX 1503
Shares in Botanix are trading up 15 per cent at 11.5 cents each