Ann: Confirmation Sofpironium Bromide NDA Formally Under Review, page-46

Thank you, JAN, I have also seen some interesting posts from you.
As regards the market interest, I thought thus article was worth a quick read:https://endpts.com/sp/2023-spotlight-on-the-future-of-drug-development-for-small-and-mid-size-biotechs/ as it informs us that while small cap biotech has had a difficult year 77% of new clinical programs originate from small companies and 70% of new approvals originagted from small companies.
So while biotech has had one of its most difficult years if one considers the drop in the US biotech ETF XBI, and it is off the 62 low at 79, one can hope for a better 2023. Many large cap pharma will likely become more motivated to do JV's, licence new product or make acquisitions to secure future revenue growth. Perhaps Botanix will be able to find a large cap partner to collaborate with on further trials, Who knows?

One of the primary headwinds Botanix has been facing seem to me to stem from the covid lockdowns and supply chain issues thereafter and their effect on recruitment and advancing the prodict pipeline. It may be that some investors have become impatient and irked by these external factors, and lost interest. If so perhaps that partly explains why your comment about the market being alseep. However Botanix has a strong development pipeline, now we have a proof or concept following the Rosacea success momentum may accelerate in 2023. We now have strong evidence the new stronger formulation works in rosacea, and while they are different conditions the pustular part worked in addition to reducing the redness. The success in reducing the pustular effects augurs well for a future Acne Phase 3, however one might suggest that Rosacea in the shorter term could well have the edge for a new trial. It seems clear the trial showed it worked on 2 parameters in a single treatment, the reduction in redness as well as pustules, and if this can be further demonstrated it could as the dermatologists on the call mentioned become a best in class treatment.

As a small company we have a highly experienced board, who have shown their prowess in the past and ability to punch beyond their weight, so rolling out SB next Autumn should be well within their ambit.

Hopefully the market will soon awaken from its slumber.