Australia's Botanix Pharmaceuticals slumps to 3-year low on discounted placement

Botanix Pharmaceuticals

17/02/2026 04:19

** Botanix Pharmaceuticals BOT.AX slumps as much as 41% to A$0.066, lowest since February 13, 2023

** Stock hits biggest intraday pct drop in seven months

** Dermatology co says it will raise A$40 million ($28.20 million) through placement

** Offer price of A$0.06 represents 47% discount to firm's close on February 13, when stock went on trading halt for potential capital raising announcement

** Funds will be used to fund manufacturing, diversify supply, market pharmaceutical products

** BOT falls 48.9% YTD

($1 = A$1.4184)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))