Ann: Botanix Announces BTX 1503 Data and Progression to Phase 3, page-122

I think you are on the money here, given the difference in Aussie and US data.

In fact it almost appears as though they intentionally/ unintentionally ran different combinations across the two jurisdictions.

I think the good thing about having distinct data results across jurisdictions is that BOT will be able to easily dissect and distinguish the difference between the two combinations and apply the most effective Aussie combination to Phase 3, which will be in line with the Aussie data announced today.

BOT may also be able to ascertain if only certain dermatology groups within the US have applied a different combination/ approach, which may has impacted the data negatively.