At the time of writing, the ASX 300 stock is down 41% to 6.5 cents.

Why is this ASX 300 stock crashing?

The catalyst for today's decline has been news that the dermatology company is raising capital.

According to the release, Botanix has received firm commitments for a ~$40 million two-tranche placement. It was strongly supported by existing and new institutional and sophisticated investors, with the second tranche subject to shareholder approval.

The ASX 300 stock also intends to offer existing eligible shareholders the opportunity to partake in a security purchase plan underwritten up to $5 million (before costs), with the ability to accept oversubscriptions, subject to shareholder approval.

Why is it raising funds?

The release notes that proceeds from the placement and the security purchase plan are intended to be used towards active pharmaceutical ingredient (API) purchases and manufacturing components, alternate API supplier setup, advertising and marketing initiatives, operating expenses, and working capital and transaction costs.

It believes this strengthens its position to deliver on its strategic initiatives, including delivering continued Sofdra growth, adding new products to the fulfilment platform to accelerate growth and profitability, and elevating its value proposition for mergers and acquisitions.

Commenting on the capital raising, the ASX 300 stock's executive chair, Vince Ippolito, said:

We were pleased to close the bookbuild for this Placement with strong support from our existing and new institutional shareholders, following a successful first year on the market and with continuing strong demand for Sofdra. As we have seen, the Company is experiencing strong quarter on quarter growth since launch.

We are excited by the potential of the recently hired additional 27 sales professionals, bringing our combined sales force to 50 sales professionals. Over the coming quarters we look forward to seeing their impact on the volume of Sofdra prescribed and we are incredibly excited for the future of Sofdra and the Company.

Ippolito also notes that the capital raising will derisk its supply chain. He adds:

We expect the targeted funds raised will allow us to derisk our supply chain, secure API under our current supply contract and put us in a more favourable financial position. The Company is at an exciting stage of development and we look forward to our shareholders' continued support under the security purchase plan and we welcome all the new investors to our register.

The post Why is this ASX 300 stock crashing 40% today? appeared first on The Motley Fool Australia.

Before the halt, Botanix shares were down 2.61% to 11 cents. The stock is now down about 17% so far this year, adding to what has already been a tough period for investors.

According to the ASX notice, trading will remain on hold until the company makes its announcement or until normal trading resumes on Tuesday, 17 February 2026, whichever comes first.

Why has trading been halted?

In its announcement, Botanix said the trading halt relates to a potential capital raising.

A capital raising involves issuing new shares to existing and sometimes new investors to raise funds. The proceeds are then used to grow the business, strengthen the balance sheet, or support product launches.

The company has not yet disclosed the size, structure, or pricing of the proposed raising. Further details are expected once trading resumes.

A quick refresher on Botanix

Botanix is a dermatology company based in the United States.

Its lead product, Sofdra, has received US Food and Drug Administration (FDA) approval for the treatment of primary axillary hyperhidrosis, or excessive underarm sweating.

Sofdra is described as the first and only new chemical treatment approved for this condition, marking an important milestone for the company.

As Botanix builds out its commercial operations, it is not yet consistently profitable. The business requires funding to support marketing, distribution, and day-to-day operations as it rolls out Sofdra.

The company has a market capitalisation of about $220 million and nearly 2 billion shares on issue.

What investors should watch next

When trading resumes, the market reaction will likely depend on the size and pricing of the capital raising.

If new shares are issued at a discount to the last traded price of 11 cents, it could put short-term pressure on the share price. On the other hand, if investors see the raising as strengthening the company's position, sentiment could improve.

Investors will also want clarity on how the funds will be used and whether new shareholders will have a chance to participate.

Foolish Takeaway

While capital raisings can strengthen a company's position, they can also dilute the existing value of current shareholdings.

Ultimately, Botanix's longer-term performance will hinge on whether Sofdra can generate impactful sales and move the business toward profitability.

The post This ASX biotech just entered a trading halt. Here's what we know appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is up 17% to 17 cents. Bargain hunters appear to be swooping in today after this clinical dermatology company's shares crashed deep into the red on Tuesday. The catalyst for that decline was a sales update which revealed that it has generated gross sales of $25 million for its Sofdra topical gel since its launch in January. The company's executive chairman, Vince Ippolito, was pleased with the launch. He said: "We are pleased with the overall performance of Sofdra since its launch in February 2025. The launch trajectory of Sofdra is trending in a positive direction, and we expect continued growth."

Dexus Industria REIT (ASX: DXI)

The Dexus Industria REIT share price is up over 2% to $2.76. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded this industrial property company's shares to an accumulate rating with an improved price target of $3.00. It made the move after running the rule of the property sector. It believes that Dexus Industria is well-placed to deliver income growth despite higher interest costs.

Strickland Metals Ltd (ASX: STK)

The Strickland Metals share price is up 3% to 15 cents. This morning, this gold explorer released another promising drilling update from its Gradina Prospect at the Rogozna Gold and Base Metals Project1 in Serbia. Managing Director, Paul L'Herpiniere, said: "This latest batch of results from Gradina continues to demonstrate the continuity of the gold-dominant system towards the northern end of the deposit. Importantly, the spatial distribution of these intercepts confirms our current geological model, indicating that the geometry of the mineralisation zone is consistent."

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up almost 7% to $25.67. This has been driven by news that the radiopharmaceuticals company's next-generation PSMA PET imaging agent, Gozellix, has been granted a permanent Healthcare Common Procedure Coding System (HCPCS) code by the U.S. Centers for Medicare & Medicaid Services (CMS). Management notes that the assignment of the code is a significant milestone supporting provider billing and reimbursement for Gozellix, and a further step toward receiving Transitional Pass-Through (TPT) payment status.

The post Why Botanix, Dexus, Strickland, and Telix shares are charging higher today appeared first on The Motley Fool Australia.

In afternoon trade, the ASX 300 stock is down a whopping 55% to 14 cents.

Why is this ASX 300 stock crashing?

Investors have been selling the dermatology company's shares following the release of an update on sales of its Sofdra product.

Sofdra is the first and only new chemical entity approved by the US Food & Drug Administration (FDA) to treat primary axillary hyperhidrosis (excessive sweating). The company notes that it presents a novel safe and effective solution for patients who have lacked treatment options for this socially challenging medical condition.

And while sales of Sofdra have been growing month on month since its launch in January, it has not been enough for some investors it seems.

Sales update

According to the release, the ASX 300 stock recorded gross sales of approximately A$25 million from January through to June 2025.

During the March quarter, the company reported gross sales of A$4.99 million. This means gross sales of approximately A$20 million were generated during the last three months. And according to management, sales have been growing month on month during this time.

Another positive failing to stop the ASX 300 stock from crashing today is its strong refill rates. It explains:

Total prescriptions (TRx) grew monthly, having over 16,000 prescriptions filled across 6,700 patients from launch to 30 June 2025. A refill rate exceeding the industry average contributed strongly to TRx growth. Patients starting Sofdra in February have already received 3.4 fills on average, compared to the industry average of 2 fills per year.

Patients enrolled in the auto-refill program had a 95% adherence rate, a measure of how consistently patients obtain refills for their prescribed medications. The adherence rate was 79% amongst all patients. Continued refill growth reflects a positive patient experience and the strength of the Botanix Fulfilment Platform.

What's next?

The company revealed that it is making strategic investments to further accelerate Sofdra's growth.

At launch, the initial regional alignment included three regions, each consisting of nine territories, for a total of 27 territories. Further investment has been planned to increase the number of regions to five and the number of territories to 50 in the second quarter of FY 2026.

Commenting on the update, the ASX 300 stock's executive chairman, Vince Ippolito, said:

We are pleased with the overall performance of Sofdra since its launch in February 2025. The launch trajectory of Sofdra is trending in a positive direction, and we expect continued growth.

Overall, a promising start for Botanix and Sofdra. However, it seems that the market's expectations were simply too high and its shares are now correcting for this.

The post Guess which ASX 300 stock is crashing 55% today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Beetaloo Energy Australia Ltd (ASX: BTL)

The Beetaloo Energy share price is down 2% to 23 cents. This is despite the energy company announcing that hydraulic stimulation has been successfully completed by Halliburton on Beetaloo Energy's Carpentaria-5H well in Beetaloo Basin permit EP 187. This follows a 20-day campaign. The company will now undertake a coiled tubing run to clean out the well bore and initial flow back followed by shut-in for soak until mid-August.

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is down 46% to 16.75 cents. Investors have been selling this clinical dermatology company's shares following the release of a sales update. Botanix revealed that it has generated gross sales of $25 million for its Sofdra topical gel since its launch in January. The company's executive chairman, Vince Ippolito, was pleased with the launch. He said: "We are pleased with the overall performance of Sofdra since its launch in February 2025. The launch trajectory of Sofdra is trending in a positive direction, and we expect continued growth." However, it seems that these sales are well short of the market's expectations. Sofdra is the first and only new chemical entity approved by FDA to treat primary axillary hyperhidrosis (excessive sweating).

Cobram Estate Olives Ltd (ASX: CBO)

The Cobram Estate Olives share price is down 2.5% to $2.38. This appears to be a case of profit taking after a strong gain on Monday following an impressive business update. In addition, this morning, the team at Ord Minnett downgraded the olive oil producer's shares to an accumulate rating with a $2.66 price target.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is down almost 1.5% to $11.41. This may have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its underweight rating and $9.46 price target on the company's shares. This implies potential downside of 17% from current levels. Though, it concedes that it could be a little more positive if rumours of GBP10 billion demerger of Kraken Technologies by Octopus Energy prove to be correct.

The post Why Beetaloo, Botanix, Cobram Estate, and Origin Energy shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Austal Ltd (ASX: ASB)

The Austal share price is up 5.5% to $6.09. This appears to have been driven by news that the shipbuilder will be added to the benchmark ASX 200 index at June's quarterly rebalance. In addition, this morning Austal revealed that South Korean shipbuilder and substantial shareholder, Hanwha Group, has received approval from the Committee on Foreign Investment in the United States (CFIUS) to increase its shareholding in Austal by up to 100%. Hanwha currently holds a 9.9% stake in the company and a further 9.9% economic interest through a cash settled total return swap. It is now seeking approval from Australian regulators to boost its equity position in Austal to 19.9%.

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is up 9% to 36 cents. This morning, this clinical dermatology company announced that it has entered into documentation with Kreos Capital for a loan facility worth up to US$30 million. The new debt facility will be available to Botanix for working capital purposes for the commercialisation of Sofdra, as well as other platform expansion opportunities. Executive Chairman, Vince Ippolito, commented: "We are pleased to work with Kreos Capital in relation to the Facility and appreciate the opportunity to do business with one of the world's leading debt providers with more than 25 years of experience."

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 3.5% to $1.60. This may have been driven by news that the counter drone technology company is expanding its European operations. It is working to establish a European manufacturing and in-house assembly facility, which will be its first outside of Australia. This includes plans to establish a new sales hub and create a second manufacturing line for select DroneShield hardware. DroneShield's CEO, Oleg Vornik, said: "This battleground has become ever more important to our European allies as they rapidly expand their defence capabilities. That defence must be centred around the modern threats of warfare which we're engaged with daily, even using AI to significantly advance counter drone capabilities by accurately identifying, tracking, and classing drones."

NextDC Ltd (ASX: NXT)

The NextDC share price is up 6% to $13.96. This morning, this data centre operator announced new contract wins. NextDC revealed that following recent customer contract wins, its pro forma contracted utilisation (at 31 May 2025) has increased by 16MW (7%) to 244MW since its last update on 6 May. A key driver of this has been its data centre under development in Kuala Lumpur, Malaysia (KL1). Its contracted utilisation now totals 10MW, representing 15% of its planned capacity.

The post Why Austal, Botanix, DroneShield, and NextDC shares are storming higher today appeared first on The Motley Fool Australia.

In afternoon trade, the ASX 300 stock is down 18% to 38.2 cents.

Why is this ASX 300 stock crashing?

Investors have been selling Botanix and other healthcare shares today amid concerns over US President Donald Trump's plans to cut the price of prescriptions.

According to Reuters, Trump plans to sign an executive order to cut prescription prices to the level paid by other high-income countries. He estimates that this could be a discount of 30% to 80% from current prices.

The US reportedly pays the most in the world for many prescription drugs. In some cases it can be nearly triple that of what people are paying in other developed nations.

Botanix response

Given its big decline, the ASX 300 stock was briefly paused from trade while it prepared a response to the speculation.

The good news is that it feels that it should be safe from any price pressures. Botanix explains:

Sofdra (sofpironium) topical gel, 12.45% is only approved in the USA and is not marketed in any other jurisdiction worldwide by Botanix or any other party. Ecclock gel 5% is a product that contains sofpironium bromide which is marketed in Japan by Botanix's partner, Kaken Pharmaceutical Company, however it is a different concentration and formulation than Sofdra, and was tested in different clinical studies and populations than Sofdra; and neither Ecclock nor any other 5% concentration of sofpironium bromide gel are approved for sale in the USA and Sofdra is also not approved for sale in Japan.

It then concludes:

Based on the limited information currently available in relation to the US Announcement and in light of the above, Botanix does not consider that it is likely that it will be subject to price reductions based on sales of Sofdra outside the USA, as there are none.

This could mean that the ASX 300 stock's fall from grace has been an overreaction today. Though, with Botanix's Sofdra 12.45% topical gel reportedly costing around US$1,043 for a supply of 40.2 millilitres, you can understand why investors are nervous.

All eyes will be on the White House today to see what exactly is contained in Trump's executive order. Stay tuned for that!

Despite today's decline, the Botanix share price is outperforming the benchmark index on a 12-month basis with an improved 38% gain.

The post Why is this ASX 300 stock crashing 18% today? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

AVITA Medical Inc (ASX: AVH)

The AVITA Medical share price is down 6% to $2.35. This appears to have been driven by a combination of weakness in the healthcare sector and a broker note out of Morgans. In respect to the latter, the broker has downgraded this medical device company's shares to a speculative buy rating (from add) and slashed the price target on them to $3.76 (from $4.36). The broker made the move in response to the company's quarterly update. It highlights that its costs were higher than expected, which meant a larger cash burn than forecast. As a result, it is starting to have concerns over the state of the company's balance sheet. Though, it is still positive on its longer term growth outlook.

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price was down 16% to 39 cents before being paused from trade. It is unclear what has driven this decline. However, it is worth noting that US President Donald Trump plans to sign an executive order to cut American prescription prices to the level paid by other high-income countries. According to Reuters, Trump has suggested that this could mean cuts of 30% to 80%. Botanix's Sofdra 12.45% topical gel reportedly costs around US$1,043 for a supply of 40.2 millilitres.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 4% to 23 cents. This semiconductor company's shares have been very volatile recently and have been bouncing around. Though, the underlying trend has been down since the start of the year, with its shares down over 40% year to date. Investors appear to be doubting that there's ever going to be meaningful revenue generation after years of false dawns. In addition, let's not forget that Brainchip is competing with companies that could swallow them up for less than a monthly R&D budget if they really thought they were onto something with their products.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 2.5% to $35.58. This has been driven by the banking giant's shares going ex-dividend this morning. When a share trades ex-dividend, it means the rights to an upcoming dividend payment are settled and new buyers won't be entitled to receive it on pay day. As a result, a share price tends to drop to reflect this. Last week, NAB declared a fully franked 85 cents per share. This will be paid to eligible shareholders on 2 July.

The post Why AVITA, Botanix, Brainchip, and NAB shares are falling today appeared first on The Motley Fool Australia.

The outperforming stock in question is clinical dermatology company Botanix Pharmaceuticals Ltd (ASX: BOT).

Botanix shares closed yesterday trading for 45 cents. In late morning trade on Wednesday, shares are changing hands for 46 cents apiece, up 2.2%.

This outperformance is nothing new for the ASX All Ords healthcare share.

Over the past 12 months, for example, the All Ords has gained a slender 0.3%, while Botanix shares have surged 89.6%.

And Seneca Financial Solutions' Arthur Garipoli forecasts more potential outsized gains ahead (courtesy of The Bull).

ASX All Ords healthcare share with a 'big sales opportunity'

"This clinical dermatology company has shipped its Sofdra topical gel to first patients, a prescription medicine used to treat axillary hyperhidrosis (excessive underarm sweating)," said Garipoli, who has a buy recommendation on the ASX All Ords healthcare share.

Citing the first reason Botanix shares are a buy, he said, "Sofdra has been approved by the US Food and Drug Administration."

That FDA approval opens the door to a huge market for the company's product.

As for the second reason the stock looks like a good buy right now, Garipoli said:

The company has embarked on a commercial launch of Sofdra with an experienced US based team. The company recently announced the product launch has so far proven to be successful.

With FDA approval in the bag, and the initial product rollout going well, the third reason Garipoli is bullish on Botanix is the company's large potential sales pipeline.

"The huge target market provides Botanix with a potentially big sales opportunity going forward," he said.

What's the latest from Botanix Pharmaceuticals?

On 11 March, the ASX All Ords healthcare share held a commercial update conference.

The company reported that there are 10 million people in the US with axillary hyperhidrosis, with 3.7 million of those people currently seeking treatment.

Botanix said it will focus on those patients seeking treatment with its targeted sales force. But the company also aims to capture some of the 6.3 million patients not actively seeking treatment via digital messaging.

Botanix shares could also catch some tailwinds from the stock's 24 March addition to the S&P/ASX 300 Index (ASX: XKO). That came as part of the S&P Dow Jones Indices quarterly review and followed the big increase in the company's market cap over the prior year.

With the ASX All Ords healthcare share now also an ASX 300 stock, it opens the door for more fund managers and index tracking funds to buy the stock.

The post 3 reasons to buy this surging ASX All Ords healthcare share today appeared first on The Motley Fool Australia.

The ASX All Ords finished 0.53% higher at 8,465 points on Thursday.

Here are five ASX All Ords shares that started the new year on a positive note with 52-week high prices.

5 ASX All Ords shares that hit 52-week highs on Thursday

Mesoblast Ltd (ASX: MSB)

It's rather fitting that the No. 1 stock among the 5 best-performing ASX All Ords stocks of 2024 started the new year at a four-year high.

The Mesoblast share price reached $3.37 in intraday trading on Thursday.

The ASX biotech closed at $3.35, up 8.06%.

Mesoblast develops drugs for complex diseases. The company did not release any news yesterday.

However, the ASX All Ords stock has been on an upward trajectory since the biotech gained approval from the United States Food and Drug Administration for its lead drug, remestemcel-L, last month.

Branded Ryoncil, the drug is the first approved treatment for steroid-refractory acute graft versus host disease (SR-aGvHD) in children and the first mesenchymal stromal cell (MSC) therapy approved in the US.

Bravura Solutions Ltd (ASX: BVS)

Another ASX All Ords tech share, Bravura Solutions, also clocked a 52-week high yesterday.

On Thursday, the Bravura share price ascended to a three-year high of $2.31. It closed steady at $2.25.

Last month the wealth management software provider upgraded its FY25 guidance. It now expects cash EBITDA of between $33 million and $36 million, which is well up on its previous guidance of $28 million to $32 million. Investors were also pleased to learn that Bravura plans to resume paying dividends this year.

Botanix Pharmaceuticals Ltd (ASX: BOT) 

The Botanix Pharmaceuticals share price lifted to a 12-year high of 45.5 cents per share on Thursday.

The ASX All Ords cannabis share closed at 45 cents, up 3.45%.

Botanix is a clinical-stage dermatology company that produces synthetic cannabinoid pharmaceutical products for skin conditions. The company had no news for the market yesterday.

However, last month, Botanix Pharmaceuticals announced that the first prescriptions for its Sofdra topical gel had been shipped to patients following telemedicine diagnoses and insurance approvals.

Sofdra treats excessive underarm sweating in adults and children aged nine years and older.

Botanix will undertake a full commercial launch of Sofdra in the first quarter of this year.

Perenti Ltd (ASX: PRN)

The Perenti share price hit a 52-week peak of $1.44 on Thursday despite no news from the company.

Stock in the ASX All Ords mining operations provider closed at $1.435 per share, up 2.87%.

Appen Ltd (ASX: APX)

ASX All Ords tech share Appen hit a 52-week high of $2.91 in intraday trading on Thursday.

The data sourcing and annotation provider stock finished the day at $2.82 per share, up 6.82%.

The post 5 ASX All Ords shares starting the new year at 52-week highs appeared first on The Motley Fool Australia.

Considering that the small-cap sector's potential for outsized share price gains comes with added risks, we take a look at two ASX healthcare stocks fund managers have tipped as buys.

ASX biotech stock well-funded post-capital raise

The first small-cap company tipped as a buy is Opthea Ltd (ASX: OPT), according to Medallion Financial Group's Philippe Bui (courtesy of The Bull).

"This biopharmaceutical company is developing a new drug for macular degeneration. Macular degeneration is the leading cause of blindness for people aged 50 and older," Bui said.

And it could be well worth owning some shares in this ASX healthcare stock before mid-2025.

"The company is in the process of completing US Food and Drug Administration phase 3 clinical trials, with results due in the June quarter of 2025," Bui explained.

Success with those FDA trials would potentially offer a sizeable boost to the Opthea share price.

And Opthea's balance sheet is in solid shape.

"The company has lifted available funds following a capital raising at 40 cents a share," Bui said.

At Opthea's latest quarterly results, the company reported a cash balance of US$172.4 million as of 30 June, up from US$101.6 million in the prior quarter.

The Opthea share price has increased 32% over the past 12 months, closing at 54 cents a share on Monday.

Which brings us to the second small-cap ASX healthcare stock tipped as a buy (courtesy of The Bull).

Small-cap ASX healthcare stock could expand into US

BW Equities' Tom Bleakley has a buy rating on Botanix Pharmaceuticals Ltd (ASX: BOT), with the US FDA also in playing a role in its fortunes.

"The FDA has approved Botanix Pharmaceuticals' Sofdra topical gel, a prescription medicine for treating primary axillary hyperhidrosis (excessive underarm sweating) in adults and children aged nine and beyond," Bleakley said.

Bleakley added:

The product is already marketed in Japan, but the US potentially provides a much bigger opportunity. BOT, a clinical dermatology company, says about 10 million people in the US suffer from excessive underarm sweating.

FDA approval paints a brighter revenue outlook.

The Botanix share price has rocketed 100% over the past 12 months, closing yesterday at 36 cents a share.

The small-cap ASX healthcare stock completed a successful institutional placement in June, raising $70 million.

As at 30 June, Botanix had a cash position of $79.3 million with no debt.

The post 2 promising small-cap ASX healthcare stocks to buy now appeared first on The Motley Fool Australia.

But there's also a handful of companies that are growing their business over in the enormous US market.

Telix Pharmaceuticals Ltd (ASX: TLX) and Botanix Pharmaceuticals Ltd (ASX: BOT) are capturing attention with their market achievements, and fund managers have noted their performance.

At the time of writing, the Botanix Pharmaceuticals share price is trading at 39 cents per share, while Telix shares are swapping hands at $19.14 apiece.

Here's a look at what the experts are saying.

ASX healthcare shares in favour

The first ASX healthcare share in focus is Telix. It has soared more than 91% this year to date, outpacing all major benchmarks.

Its flagship product, Illuccix, has approvals from the US Federal Drug Administration (FDA), the Therapeutic Goods Association (TGA) here in Australia, and Health Canada.

These approvals have driven substantial revenue growth. The ASX healthcare share now projects FY24 revenue between US$490 million and US$510 million, up from earlier guidance.

Monash Investors Small Companies Fund highlighted Telix's performance in its June update. Telix – along with Botanix – was one of the fund's largest contributors for the quarter.

The fund booked a 44% gain from the position during the three months.

Telix's cancer imaging drug sales continue growing at extraordinary rates and are now over $500m after two years. The main news this quarter was positive data from the clinical trial of its prostate cancer therapy.

Bell Potter analysts are also bullish on Telix. The broker recently reaffirmed its buy rating and lifted the price target to $22.60, according to my colleague James.

It highlighted the company's strong revenue growth and potential for further upside with upcoming regulatory approvals for its Zircaix label.

"We believe the likely approval for Zircaix in early CY25 will propel the stock towards our revised target price," Bell Potter noted.

Botanix rallies in 2024

Botanix Pharmaceuticals shares have also spiked in 2024 and are up more than 101% since January.

The ASX healthcare share recently made headlines with the FDA approval of its Sofdra product.

This medicine treats primary axillary hyperhidrosis, a condition characterised by excessive underarm sweating. It is the first new chemical entity approved by the FDA for this condition.

According to the company, Sofdra's potential market is substantial, with approximately 10 million people in the United States affected by this condition.

The FDA approval facilitated a successful $70 million capital raising, and Botanix will use the funds to support its US launch of Sofdra.

Lennox Capital Partners recently added Botanix to its portfolio following the FDA approval. The fund praised Botanix's strategic positioning in its June letter.

During the month, the fund added Botanix Pharmaceuticals following US Food and Drug Administration (FDA) approval of its sweat prevention product Sofdra. The company has a highly capable board and management team with a strong track record of execution.

We are attracted to the US market opportunity which offers limited competition. Combined with the company's dermatologist-centric strategy, we anticipate rapid product adoption from those suffering from hyperhidrosis.

Monash Investors also noted the ASX healthcare share's significant progress in its June update after it saw a 53% return during the quarter.

In it, the broker said Sofdra already had "a large market" in Japan and was distributed by an unrelated company.

Botanix is also rated a strong buy from consensus estimates, according to CommSec.

Foolish takeaway

Telix Pharmaceuticals and Botanix Pharmaceuticals are two ASX healthcare shares that could make significant impacts in the US market.

Their ownership in key funds is a highlight and shows conviction from those with "skin in the game". As always, conduct your own due diligence before making investment decisions.

The post 2 ASX healthcare shares making splashes in the US appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is up 1.5% to 34 cents. This has been driven by news that the US Food and Drug Administration (FDA) has approved its Sofdra product as a prescription medicine used to treat primary axillary hyperhidrosis (excessive underarm sweating) in adults and children 9 years and older. Botanix notes that there are approximately 10 million people in the United States with primary axillary hyperhidrosis, with few effective treatments available for patients. The company also raised $70 million through an institutional placement at 30 cents per new share.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 2.5% to 22 cents. This morning, this energy producer announced that it has reached an agreement with Macquarie Group Ltd (ASX: MQG) for the refinancing of its existing debt package. This will allow the company to fund production upgrades, as well as pre-development and development costs across its Perth Basin portfolio of assets. Provision of the $153 million five-year financing package is subject to execution of the definitive financing documentation.

Talga Group Ltd (ASX: TLG)

The Talga Group share price is up 10.5% to 63 cents. This has been driven by news that the battery materials and technology company has entered into an earn-in agreement with lithium giant Sociedad Quimica y Minera de Chile S.A (NYSE: SQM). The agreement relates to the company's Aero Lithium Project in Sweden. Under the binding agreement, Talga has granted SQM the right to sole fund exploration expenditure of up to US$19 million over the next 7 years for up to a 70% ownership interest in the project.

West African Resources Ltd (ASX: WAF)

The West African Resources share price is up almost 3% to $1.50. This morning, the gold miner advised that it has now fully drawn the US$265 million secured loan facility from Sprott Resource Lending Corp. and Coris Bank International SA. These funds will be used for the development of the company's Kiaka Gold Project in Burkina Faso and other corporate purposes. Kiaka's construction is now 50% complete, with 75% of costs now committed and fixed.

The post Why Botanix, Strike Energy, Talga, and West African Resources shares are pushing higher appeared first on The Motley Fool Australia.

In morning trade, the clinical dermatology company's shares are up 9% to a 52-week high of 36.5 cents.

Why are Botanix Pharmaceuticals shares rising?

Investors have been buying the company's shares today in response to an announcement relating to its Sofdra product.

Yesterday, Botanix revealed that the US Food and Drug Administration (FDA) has approved Sofdra as a prescription medicine used to treat primary axillary hyperhidrosis (excessive underarm sweating) in adults and children 9 years and older.

This makes it the first and only new chemical entity approved by the FDA to treat primary axillary hyperhidrosis and presents a novel safe and effective solution for patients who have lacked treatment options for this socially challenging medical condition.

Botanix notes that there are approximately 10 million people in the United States with primary axillary hyperhidrosis, with few effective treatments available for patients. This gives it a large market opportunity to grow into.

Speaking of which, the company plans to launch its patient experience program in the third quarter of 2024. After which, it is anticipating its first revenue from Sofdra early in the fourth quarter of the year.

Botanix CEO, Dr Howie McKibbon, commented:

We are pleased to share this accomplishment with our dedicated Botanix team and dermatologist partners, patients who participated in the clinical studies and our shareholders who made this approval possible. This is a transformative event for Botanix as we transition from a development stage to a revenue generating dermatology company.

Capital raising

Following the FDA approval, Botanix decided to immediately launch a capital raising, which is now complete.

Management revealed that it has received firm commitments from a significant number of new leading Australian and international institutional investors at a 10.4% discount of $0.30 per new Botanix share. This has raised $70 million in gross proceeds.

The proceeds from the placement will be applied towards funding the launch of Sofdra in the United States. This includes funding its sales force and marketing infrastructure, as well as digital marketing costs and the telemedicine platform, manufacturing costs, as well as new quality assurance, pharmacovigilance and support services.

Botanix's executive chairman, Vince Ippolito, commented:

We are extremely pleased to announce this significant Placement, following on from the successful approval of Sofdra by the FDA yesterday. We are grateful to our loyal base of shareholders for supporting us through the approval of Sofdra and we welcome our new institutional investors, as we enter this exciting commercial phase.

Botanix shares are up over 200% since this time last year.

The post Botanix shares jump on FDA approval and $70m capital raising appeared first on The Motley Fool Australia.

That's because the clinical dermatology company has just announced some very big news..

Why is the Botanix Pharmaceuticals share price on watch?

This morning, the company released a highly anticipated announcement relating to its Sofdra product.

According to the release, the US Food and Drug Administration (FDA) has approved Sofdra as a prescription medicine used to treat primary axillary hyperhidrosis (excessive underarm sweating) in adults and children 9 years and older.

This FDA approval was supported by results from two pivotal Phase 3 studies evaluating its efficacy and safety in 701 patients with the condition.

Management notes that this makes it the first and only new chemical entity approved by the FDA to treat primary axillary hyperhidrosis and presents a novel safe and effective solution for patients who have lacked treatment options for this socially challenging medical condition.

There is a larger addressable market for this than you might think. Botanix highlights that there are approximately 10 million people in the United States with primary axillary hyperhidrosis, with few effective treatments available for patients.

What now?

Management advised that it plans to launch its patient experience program in the first quarter of 2024. After which, it is anticipating its first revenue from Sofdra early in the fourth quarter of the year.

Botanix's chief executive officer, Dr Howie McKibbon, was very pleased with the news and described it as a "transformative event" for the company. He commented:

We are pleased to share this accomplishment with our dedicated Botanix team and dermatologist partners, patients who participated in the clinical studies and our shareholders who made this approval possible. This is a transformative event for Botanix as we transition from a development stage to a revenue generating dermatology company.

This sentiment was echoed by the company's executive chairman, Vince Ippolito. He said:

We are very excited to provide a new option for the 10 million patients with primary axillary hyperhidrosis in the United States. As the first and only new chemical entity, Sofdra represents a new therapeutic approach for dermatologists to treat patients with this disabling medical condition.

Capital raising

The Botanix Pharmaceuticals share price will remain in its trading halt despite the release of this announcement.

This is because it is looking to leverage this good news to raise capital from investors. It said:

The Company will remain in halt pending an announcement of the results of a potential capital raising, which is expected no later than opening of trading on Friday, 21 June 2024.

The Botanix Pharmaceuticals share price is up 204% in 12 months.

The post Botanix Pharmaceuticals share price on watch amid FDA news and 'transformative event' appeared first on The Motley Fool Australia.

Shares in the clinical dermatology company closed at 34 cents apiece yesterday, which sees the stock up almost 18% in five days.

Today shares in the ASX All Ords stock entered a trading halt pending a key approval announcement from the United States Food & Drug Administration (FDA). Shares are expected to resume trading this Friday.

Any guesses?

If you said Botanix Pharmaceuticals Ltd (ASX: BOT), go to the head of the virtual class.

Here's what's happening.

What's happening with the ASX All Ords stock?

Last Wednesday, 12 June, Botanix announced that it had submitted the last label materials to the FDA for its prescription product Sofdra. Sofdra is developed to treat excessive underarm sweating. Also known as primary axillary hyperhidrosis, for our medically inclined readers.

That announcement saw the ASX All Ords stock charge higher over the next three trading days.

Investor enthusiasm looks to have been piqued by the company noting that its labelling discussions present the final step before the "anticipated FDA approval of Sofdra". Botanix said its been in discussions with the FDA on product carton design and the wording of information to be provided to patients and physicians about Sofdra.

Commenting on the anticipated approval that sees the ASX All Ords stock in a trading halt today, Botanix CEO Howie McKibbon said:

Our team has been highly focused on completing these last label components, well in advance of approval.

Our label and packaging materials are an important part of the materials that we will use to communicate important safety and efficacy information upon approval of Sofdra.

The company said that FDA approval for Sofdra remains on target for this Friday, 21 June. Upon approval, it said that Sofdra will be the first new chemical entity approved for excessive underarm sweating.

Atop of Sofdra, the ASX All Ords stock has a range of other products in late-stage clinical development to potentially treat a variety of dermatology conditions.

Botanix share price snapshot

If you look back to the chart up top, you'll see just how strong the Botanix share price has performed over the past months.

In 2024 alone, the ASX All Ords share has gained 76%.

Investors who bought shares 12 months ago will be sitting on gains of 205%.

And savvy investors who bought shares at the very end of 2022 (30 December) will have seen those shares rocket by 570%.

The post Guess which high-flying ASX All Ords stock was just halted ahead of a key FDA decision appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is up a further 3.5% to $5.14. Investors have been scrambling to buy the auto parts retailer's shares this week after it received an unsolicited, indicative, conditional and non-binding takeover proposal from Bain Capital. This would see Bapcor shareholders receive $5.40 cash per share from the private equity giant. As things stand, the Bapcor board is currently considering the offer and has warned that "there is no guarantee that the Indicative Proposal put forward by Bain Capital will result in a binding offer or that any transaction will eventuate." The offer price is well short of Bapcor's 52-week high of $7.09, so some shareholders may feel short-changed if it is accepted.

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is up 2% to 28 cents. This morning, this clinical dermatology company announced that it has submitted the last label materials to the US Food & Drug Administration (FDA) for Sofdra. It is a pending prescription treatment for excessive underarm sweating. Management notes that label discussions are the final step for Botanix before the anticipated FDA approval of Sofdra. They have involved discussions with the FDA on product carton design and wording of information that is provided to patients and physicians about the product.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up 7% to $1.39. Investors have been buying this business lender's shares today amid news that it will be added to the ASX 200 index next week. After the market close on Tuesday, S&P Dow Jones Indices announced that it will replace building materials company CSR Ltd (ASX: CSR) when it is removed from the index week. Though, this remains subject to shareholder and final court approval of the scheme of arrangement which will see CSR acquired by Compagnie de Saint-Gobain.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up 2.5% to $27.73. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the energy giant's shares to an outperform rating with a $32.00 price target. Macquarie made the move on valuation grounds, believing that the market was valuing Woodside on a long term oil price significantly below even its own lower than consensus forecasts.

The post Why Bapcor, Botanix, Judo Capital, and Woodside shares are rising today appeared first on The Motley Fool Australia.

The biotechnology industry combines biology with technology to develop products for various applications. Biotech stocks are shares in companies developing biotech products, which could have medical, agricultural, or industrial applications. 

Many biotech firms focus on genetics and molecular biology to innovate. Extensive research and development (R&D) is undertaken to create new therapies and technologies. This means substantial R&D spending generally precedes revenue generation. Success in biotech can lead to significant rewards, however, with share values potentially soaring following technological breakthroughs or drug approvals. 

Risks and rewards 

The biotech sector is known for its volatility, driven by the high stakes of clinical trials. The performance of biotech shares tends to be driven by company-specific developments, such as trial data, rather than broader economic factors. This means the sector is generally non-cyclical and can provide potential diversification benefits. 

The ASX is home to a number of groundbreaking biotech companies pioneering innovative therapies. For example, Telix Pharmaceuticals Ltd (ASX: TLX) develops radiopharmaceutical diagnostic agents and therapeutic products that are reshaping oncological care. Fellow ASX 300 biotech Clinuvel Pharmaceuticals Limited (ASX: CUV) develops treatments for serious skin disorders. Both Clinuvel and Telix have successfully commercialised products and are expanding their market presence. This should bode well for future revenue streams. 

The ASX also hosts an array of emerging biotech firms that are beginning to make their mark. Botanix Pharmaceuticals Ltd (ASX: BOT) develops dermatological products and drug treatments. The company is preparing for the upcoming commercial launch of a topical treatment for underarm sweating. Federal Drug Administration (FDA) approval for the treatment is expected by late June 2024. 

Meanwhile, Neuren Pharmaceuticals Ltd (ASX: NEU) is focused on developing treatments for severe neurodevelopmental disorders like Rett syndrome and Fragile X syndrome. It recently achieved FDA approval for a drug that treats Rett syndrome in adults and children over two years old. This is the first and only approved treatment for this condition. Another Neuren Pharmaceuticals drug candidate is also in trials for the treatment of several other disorders. 

As these companies progress through regulatory pipelines and reach commercial stages, the impact on their valuations could be transformative.  

What does the future hold for ASX biotech shares? 

Biotech firms on the ASX are benefitting from global trends that favour advancements in medical technology and increased healthcare demand. The performance of individual biotech companies, however, is ultimately dependent on successful outcomes from R&D activities.
 
Investing in this sector comes with high volatility and risk, but does offer substantial growth potential. Current trends suggest a positive trajectory for ASX biotech shares, making them an interesting sector for investors looking for exposure to innovative healthcare solutions.

The post Which ASX biotech shares are pioneering the future of medicine? appeared first on The Motley Fool Australia.

That's a far cry from the heady days of 2019 and 2020 when ASX cannabis shares joined their American-listed peers in setting investors' portfolios ablaze.

That boom came amid the early excitement over marijuana legalisation in Canada along with multiple US states.

But like their global peers, Aussie-listed pot stocks have mostly trended lower since then.

And the past year, which saw the All Ordinaries Index (ASX: XAO) gain 4.1%, is no exception.

Here's how these four leading ASX cannabis shares have performed over the 12 months:

• Botanix Pharmaceuticals Ltd (ASX: BOT) shares have soared 144.4%
• Little Green Pharma Ltd (ASX: LGP) shares are down 18.8%
• Ecofibre Ltd (ASX: EOF) shares are down 65.6%
• Cann Group Ltd (ASX: CAN) shares are down 61.3%*

(*Cann Group shares remain suspended as of 1 March.)

With the exception of Botanix, that's some pretty poor returns from the sector.

But ASX cannabis shares could be set for some fresh tailwinds thanks to none other than the US Drug Enforcement Administration (DEA).

Here's what could set ASX cannabis shares alight

For 50 years now marijuana has been classified as a Schedule I substance in the US. That's the same rating given to drugs like heroin, cocaine and LSD, substances considered to have no acceptable medicinal uses and that are prone to abuse.

But the DEA has been reviewing that classification in recent months. And yesterday (overnight Aussie time), news broke that the agency was moving to reclassify cannabis to a lesser category.

That caused some major excitement in American markets.

Shares in Canadian-listed Canopy Growth Corp (TSE: WEED), for example, rocketed 80%.

So far the reaction among ASX cannabis shares is mixed. While Little Green Pharma and Botanix shares are just about flat today, Ecofibre shares are up 13.3% at the time of writing.

How would the DEA's reclassification change market dynamics?

Moving cannabis to a less onerous drug classification would lower taxes on pot stocks and could also encourage more US states to legalise it, offering a growing legal market.

It would also help cannabis companies in the US to access banking services.

Dan Ahrens, managing director of Advisorshares Investments said (quoted by Bloomberg), "There's been a lot of rumours coming out in the last few days, but this looks official… I think it makes it easier for the House and Senate to act on SAFER Banking."

And, as Jefferies analyst Owen Bennett notes, a reclassification by the DEA could see more institutional investment flow into the sector.

While that would likely be more beneficial to American listed stocks, ASX cannabis shares could enjoy some welcome tailwinds from this shift.

"The major reason current multiples are depressed is lack of institutional ownership," Bennett said.

He added that the DEA's move:

Would hugely improve the prospects of full federal legalisation within the next five years, with a critical piece of this move making it easier to study cannabis and thereby fill in the data gaps where there may be concerns around its widespread use among the population.

The post Could ASX cannabis shares be set for a smoking hot rebound? appeared first on The Motley Fool Australia.

As well as providing fantasy stimuli, such stars demonstrate to investors that just one or two stocks can carry a properly diversified portfolio, even if its cohorts had shockers.

So the moral of the lesson is that not every stock you buy has to be a winner for you to end up a winner.

3.7 million patients seeking a solution

At the close of trade on 30 December 2022, the Botanix Pharmaceuticals Ltd (ASX: BOT) share price sat at just 5.3 cents.

Let's imagine you had the foresight to buy $40,000 of Botanix shares at this time.

During 2023, investors flocked to the ASX healthcare stock as its products went through the development and approval pipeline.

Although formerly known as a cannabis stock, the flagship drug for Botanix is now a substance called Sofpironium Bromide — or Sofdra, as it is commercially known.

As The Motley Fool's James Mickleborow explained last year, Sofpironium Bromide was the first-ever treatment developed to treat primary axillary hyperhidrosis.

That disorder is best described as uncontrollable sweating, especially in the underarms.

"In the US alone, there are approximately 10 million patients who suffer from primary axillary hyperhidrosis. Approximately 3.7 million of those are already actively seeking treatment."

This product was apparently the source of much excitement for investors.

Next catalyst could come in June

Just between June and September, Botanix shares rocketed 150% higher, prompting a "speeding ticket" enquiry from the ASX.

The company explained that it could be investors speculating on the result of an application for Sofpironium Bromide to the Drug and Food Administration (FDA) in the US.

"The company notes that if [the] FDA decision is received, it will represent a significant milestone for the company, as it will pave the way for an expansion of the company's operations and revenue generation."

Unfortunately, in September, the FDA replied to Botanix without an approval, sending the shares crashing down.

The ASX healthcare stock has since recovered, after the company later resubmitted its application. 

This week the FDA indicated that it now considered Botanix's application as a "full response" and that an approval decision is scheduled for late June.

So after that rollercoaster ride, the stock price is at 17 cents. That means your investment has now turned into a whopping $128,301.

That's a phenomenal 220% gain in just over a year.

Botanix shares are sparsely covered but, according to CMC Invest, the analysts at Euroz Hartleys rate it as a strong buy.

The post If you'd put $40,000 in this ASX healthcare stock at the start of 2023, you'd have $128,000 now appeared first on The Motley Fool Australia.