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Why the Botanix (ASX:BOT) share price is 15% higher today // Motley Fool Australia
The Botanix Pharmaceuticals Ltd (ASX: BOT) share price is surging higher today after a positive announcement.
In the minutes after market open, shares in the synthetic cannabinoid company jumped as high as 11.5 cents. The Botanix share price has retreated slightly during the day to 11 cents, up 15.79% at the time of writing.
What does Botanix do?
Botanix is a synthetic cannabinoid pharmaceutical company that focuses on dermatology and antimicrobial products.
Based in Perth, Australia and in Philadelphia, United States, the company has a pipeline of product candidates undergoing clinical trials. Botanix aims to address patients who have serious skin diseases, as well as prevent surgical site infections.
Pre-IND meeting completed
Botanix…
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