15 February 2023Press Article CorrectionPhiladelphia PA and...

15 February 2023

Press Article Correction

Philadelphia PA and Phoenix USA, 15 February 2023: Clinical dermatology company, Botanix Pharmaceuticals Limited (ASX: BOT, “Botanix” or “the Company”), has been made aware of an article in The West Australian yesterday morning, which highlights the Company’s product for hyperhidrosis (Sofpironium Bromide), that has been filed for FDA approval and is preparing for a mid-cycle review with FDA in 1Q 2022.

The article incorrectly attributes a forecast for the product’s profits to Botanix director, Mr Matthew Callahan, specifically that the product “would generate anywhere between $US 100-200 million (A$144m-$288m) in profit a year.”

Mr Callahan did not make that forecast at the recent JP Morgan conference or at all.

The numbers quoted by The West Australian appear to have been taken from the most recent Botanix investor presentation dated 31 January 2023 and in particular slide 15 which is entitled “US market opportunity for hyperhidrosis” which provided (relevantly) that:

• there are approximately 16.1m hyperhidrosis patients in the USA;

• approximately 11.2m of those patients are severe, with approximately 7.3m of those

  patients having severe axillary (or underarm) hyperhidrosis only; and

• approximately 3.7m of those patients are actively seeking medical treatment.

  These figures are sourced from the report “Reports and data: Hyperhidrosis treatment market by treatment type by disease type, by end user, by regional outlook and segment forecasts 2022”, as noted in the footnote on the slide.

  The slide also sets out various scenarios for potential market share and corresponding potential gross sales. To the extent that these scenarios could be considered a financial forecast, Botanix retracts the scenarios and examples sales figures given. Botanix does not have a reasonable basis for making a sales forecast at this stage.

  Botanix provides this announcement to ensure clarity for investors. Release authorised by

  Matthew Callahan

  Executive Director