Australia's Botanix hits over 11-yr high on USFDA nod for new drug application

Botanix Pharmaceuticals

21/06/2024 04:23

** Shares of Botanix Pharmaceuticals  BOT.AX  rise as much
as 9% to A$0.365, their highest since Feb. 13, 2013
    ** Stock posts its biggest intraday percentage gain since
June 13
    ** Dermatology company on Thursday said U.S. Food and Drug
Administration (USFDA) approved the New Drug Application for its
excessive underarm sweating gel 'Sofdra'
    ** Co also says it secured A$70 mln ($46.62 mln) in funding
to support the launch of its gel
    ** Shares were on a trading halt since Wednesday ahead of
announcement on USFDA's decision
    ** About 28.3 mln shares change hands vs 30-day average
volume of around 4.9 mln
    ** Stock up 81.6% YTD, including session's moves

($1 = 1.5015 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))