Indeed it was.Not to mention the actual acquisition of SB...

Indeed it was.

Not to mention the actual acquisition of SB against a depressed American bio bleeding cash.

People underestimate the ability of aussie bio's listed here in Oz and their ability to raise capital.

You only need to take a look at the likes of Pfizer and how they have bled in recent years from a market cap/share price perspective. No one was going near BIO's generally in the USA at all.

The R & D rebate here in OZ is still very lucrative and gives BOT about $3-4 mill a year in revenue back into the coffers. In the development and phase trial life cycle of a bio this cash flow is critical to success.

Had the company not purchased SB we would be in phase 3 trials struggling to raise cash in a tight market with interest rates being a factor for many families and investors.

On top of that we now have an established revenue stream that is growing in overseas markets with a product that is clearly best in class for the sector.

Our pipeline is further diversified with Acne and Antibiotic arms that are game changers in their own right.

I fully expect Botanix to be the next NEU and a major player in the space.