Botanix Pharmaceuticals (BOT) investor relations material

Executive summary

• Sofdra shipments rose 5.3% QoQ to 35,130, while Q1 FY27 net revenue remained $10.1m and operating cash outflow fell 13% to $9.225m.

• October cost actions target ~50% lower operating expenses for the rest of FY27, with an estimated ~75% of revenue-generating ability retained; this is not a revenue forecast.

• Priorities include maximizing Sofdra revenue, global licensing and commercialization, complementary in-licensing, revised debt terms and evaluating broader transaction alternatives.

Financial highlights

• Q1 FY27 Sofdra gross sales rose to $49.3m from $46.7m QoQ, while unaudited net revenue remained $10.1m.

• Quarter-end cash and cash equivalents were $24.358m, down from $36.631m; inventory was ~$30.8m versus $31.3m in Q4 FY26.

• Product-sales receipts increased 13% QoQ to $15.161m; net operating cash outflow declined to $9.225m from $10.6m.

• Operating costs were $11.313m, down 1% QoQ, while manufacturing costs fell 35% to $0.8m from $1.2m.

Outlook and guidance

• October actions target ~50% lower operating expenses for the remainder of FY27 versus Q1 FY27, with ~60% headcount reduction and estimated retention of ~75% of revenue-generating ability.

• Remaining FY27 assumptions include ~$2m manufacturing costs, operating and staff costs flat, G&A flat, and gross-to-net payments tracking product sales.

• Management expects gross-to-net improvement in Q2 FY27 if other factors remain constant; the annual US insurance deductible reset is expected to weigh temporarily on Q3 FY27 GTN.

• Piramal API technology transfer is expected to reduce cost of goods sold by 25%–40%; completing the process is a priority.