Things I've picked up on...
Wanting to be the most successful derma drug
Refills... We've had what 5 months as June wouldn't be included and a refill rate of 3.1
We were aware of the potential of not getting much revenue in the beginning month or so and it seems that's confirmed
Cash flow positive in 12 to 15 months. Will the debt facility be enough and will there be enough doubt so that it holds down the share price.
However good to see some news flowing
Botanix CEO Dr Howie MckKibbon says investors shouldn't just rely on management's assertion that its anti-sweating drug Sofdra has and we paraphrase "the potential to be the world's most successful dermatology drug"
“Most importantly, our refill rates are well above industry standards,” Dr McKibbon says.“After three months we are getting 3.1 [repeat] fills [per script] which surpasses the
average topical dermatology prescription of two per year.”
Who pays?Not the patients, who are covered by Medicaid or - in most cases - insurers.US reimbursement is complex, but typically a refill attracts a payment of $US400 to $US500. The first tube might not be reimbursed, in which case the company will provide it for nothing.
Botanix has cash of more than $60 million - enough to fund the Sofdra rollout - and Dr
McKibbon says the company strives to be cash flow positive “within the next 12 to 15
months”.
(20min delay)