Sales traction from Botanix Pharmaceuticals' (ASX:BOT) full commercial launch of Sofdra, its prescription treatment for excessive underarm sweating, could lead to a potential stock rating above its price target, according to a Monday note by Euroz Harlteys.
On Jan. 31, the company said that the full commercial launch of Sofdra is officially underway, with sales professionals set to hit the field within the next week.
Early patient feedback from social media and online sources shows that Sofdra is effective compared to its alternatives, with minimal side effects, with patients receiving full insurance coverage, Euroz said.
The feedback is positive for BOT and raises Euroz's confidence in the company's ongoing commercial rollout.
Euroz maintained Botanix Pharmaceuticals' buy rating and its AU$0.55 price target.
Shares of the company rose 7% at market close.
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