Latest news with #Botanix
Herald Sun
08-07-2025
- Business
- Herald Sun
Amalgam filling phase-out hits SDI's sales
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Filling material supplier SDI pre-reports a flat result, partly because of declining amalgam sales Perspiring investors wipe more than 40% off Botanix share price after US market update FDA approves Cochlear's 'smart' implant system Veteran dental materials supplier SDI (ASX:SDI) has flagged soft numbers for the 2024-25 year, mainly because the world is phasing out amalgam filling material that contains mercury. With pre-reporting results due out on August 28, SDI said revenue for the year to June would come in at $111 million, 0.2% lower than the previous year. Net profit will be $10-10.4 million, compared with $10.4 million previously. SDI cites a 20.45% decline in amalgam sales, most pronounced in North America and Europe. Amalgams account for 13% of SDI's sales, compared with 16% last year and 23% five years ago. In absolute terms, however, SDI's amalgam sales have been steady at $18 million – a trend not lost on anti-mercury proponents. Overall SDI's European and Brazilian sales grew 7.2% and 9.9% respectively in local currency terms, offset by overall weakness in the Middle East and Asia. While an ugly grey, amalgam fillings remain popular because of their strength. But given they contain 50% mercury, their use is either being restricted or banned. The European Union is phasing out the use of the material by 2030, while Sweden and Norway have banned it. Elsewhere, Moldova, Mongolia, some Persian Gulf states, and the Philippines have also outlawed the grey gob filler. A global treaty, the Minamata Convention on Mercury aims to phase out dental amalgam but doesn't impose a complete ban. A signatory to this accord, Australia has restricted the use of bulk mercury in dental practices. Today's SDI release makes no mention of Stela, its replacement product that is pearly white and with the strength of an amalgam filling. Quiet export achiever For more than 50 years, SDI developed and exported dental supplies from its base in eastern Melbourne. Now the company's chair, Jeffery James Cheetham founded the company, then known as Southern Dental Industries in 1972. SDI listed on the ASX in 1985 and is now run by Cheetham's daughter Samantha. And speaking of medtech exporters, Adelaide based optical device stalwart Nova Eye Medical (ASX:EYE) has reported June half sales (excluding China) of US$9.57 million, thus snugly meeting guidance of US$9-10 million. Nova's full year revenue was US$18.4 million, up 21% with the US accounting for US$14.2 million (up 25%). Nova shares gained an eye-catching 12%. Botanix US update hits a sweaty note Addressing a webcast of more than 600 investors, Botanix Pharmaceuticals (ASX:BOT) announced it had chalked up $25 million of gross US Sofdra sales since launching the drug in January. Despite this impressive take-up, punters wiped more than 40% – or $240 million – from the company's market cap. The reason appears to be a higher-than-expected gap between those gross sales and the amount the company pockets. Sofdra treats primary axillary hyperhidrosis (PAH): excessive underarm sweating beyond what's required to regulate body temperature. The company reports that dermatologists wrote 16,000 prescriptions for 6700 patients, with refill rates of 3.4 per year. This compares with the sector average of two refills per year. 'We are in line with some of the best derm launches out there,' Botanix executive director Howie McKibbon said. A tube of Sofdra – enough for a month's supply – costs US$300 to US$400. Patients enrolled on the company's auto-refill program had a 95% adherence rate, "a measure of how consistently patients obtain refills for their prescribed medications.' Otherwise, 79% of patients adhered to the treatment. As of June, Sofdra's prescriber base stood at 2300 docs. Now to profitability In June the company's gross yield to to net revenue stood at 23%, up from 13% in January. This reflects the amount pocketed by intermediaries by way of discounts, rebates and such. While Botanix's take seems low, management says its share of the pie is industry leading. The company targets a 30-40% range, compared to generic skin offerings that might only attract a 10-15% margin. Management also said the proportion of reimbursed scripts has also grown to 39% of the total, compared with 26% at the start of January. Meanwhile, Botanix is expanding its US reach from an initial reach of 27 to 33, with plan underway to increase the number to 50. The company also reassured investors that it was not planning a capital raising and that Trump's tariffs likely would be immaterial. Botanix currently is holding an event series called 'Summer of Sweat'. This sounds like a Woodstock style festival but it's a forum for Botanix execs to meet with healthcare providers across 14 US cities. Woodstock went ahead despite torrential rain and we're sure management will rock on despite the setback. Cochlear hears good news from the FDA In a disclosure Hemingway-esque in its brevity, Cochlear (ASX:COH) today said the FDA has approved its next-generation Nucleus Nexa implants – 'the world's first and only smart cochlear implant system' – as well as its Nucleus Kanso and Kanso 3 Nexa sound processors. Cochlear hopes the refreshed products will staunch recent weakness in its developed country sales. The company launched the 'Nucleus Nexa System' – the implant/processor comb -in Europe and the Asia Pacific last month. It plans to launch the products in the US in the current quarter. Syntara's new name will grow on us Most investigative drug names are odd for a reason, because they need to be unique and avoid bold therapeutic claims. Come to think of it, they can't mean much at all – as Syntara's (ASX:SNT) new drug name would attest. The World Health Organisation has ascribed an International Non-Proprietary Name (INN) to Syntara's myelofibrosis drug candidate, SNT-5505. Commonly known as a generic name, an INN is a globally recognised, unique name for a pharmaceutical substance or active ingredient. The new moniker for SNT-5505? Amsulostat. Syntara CEO Gary Phillips says the name reflects the drug's 'unique mechanism of action and clinical promise'. We're sure it will grow on everyone over time – and we've heard worse. Originally published as Health Check: Dental supplier faces the hard tooth that amalgam fillings are on the way out
News.com.au
08-07-2025
- Business
- News.com.au
Health Check: Dental supplier faces the hard tooth that amalgam fillings are on the way out
Filling material supplier SDI pre-reports a flat result, partly because of declining amalgam sales Perspiring investors wipe more than 40% off Botanix share price after US market update FDA approves Cochlear's 'smart' implant system Veteran dental materials supplier SDI (ASX:SDI) has flagged soft numbers for the 2024-25 year, mainly because the world is phasing out amalgam filling material that contains mercury. With pre-reporting results due out on August 28, SDI said revenue for the year to June would come in at $111 million, 0.2% lower than the previous year. Net profit will be $10-10.4 million, compared with $10.4 million previously. SDI cites a 20.45% decline in amalgam sales, most pronounced in North America and Europe. Amalgams account for 13% of SDI's sales, compared with 16% last year and 23% five years ago. In absolute terms, however, SDI's amalgam sales have been steady at $18 million – a trend not lost on anti-mercury proponents. Overall SDI's European and Brazilian sales grew 7.2% and 9.9% respectively in local currency terms, offset by overall weakness in the Middle East and Asia. While an ugly grey, amalgam fillings remain popular because of their strength. But given they contain 50% mercury, their use is either being restricted or banned. The European Union is phasing out the use of the material by 2030, while Sweden and Norway have banned it. Elsewhere, Moldova, Mongolia, some Persian Gulf states, and the Philippines have also outlawed the grey gob filler. A global treaty, the Minamata Convention on Mercury aims to phase out dental amalgam but doesn't impose a complete ban. A signatory to this accord, Australia has restricted the use of bulk mercury in dental practices. Today's SDI release makes no mention of Stela, its replacement product that is pearly white and with the strength of an amalgam filling. Quiet export achiever For more than 50 years, SDI developed and exported dental supplies from its base in eastern Melbourne. Now the company's chair, Jeffery James Cheetham founded the company, then known as Southern Dental Industries in 1972. SDI listed on the ASX in 1985 and is now run by Cheetham's daughter Samantha. And speaking of medtech exporters, Adelaide based optical device stalwart Nova Eye Medical (ASX:EYE) has reported June half sales (excluding China) of US$9.57 million, thus snugly meeting guidance of US$9-10 million. Nova's full year revenue was US$18.4 million, up 21% with the US accounting for US$14.2 million (up 25%). Nova shares gained an eye-catching 12%. Botanix US update hits a sweaty note Addressing a webcast of more than 600 investors, Botanix Pharmaceuticals (ASX:BOT) announced it had chalked up $25 million of gross US Sofdra sales since launching the drug in January. Despite this impressive take-up, punters wiped more than 40% – or $240 million – from the company's market cap. The reason appears to be a higher-than-expected gap between those gross sales and the amount the company pockets. Sofdra treats primary axillary hyperhidrosis (PAH): excessive underarm sweating beyond what's required to regulate body temperature. The company reports that dermatologists wrote 16,000 prescriptions for 6700 patients, with refill rates of 3.4 per year. This compares with the sector average of two refills per year. 'We are in line with some of the best derm launches out there,' Botanix executive director Howie McKibbon said. A tube of Sofdra – enough for a month's supply – costs US$300 to US$400. Patients enrolled on the company's auto-refill program had a 95% adherence rate, "a measure of how consistently patients obtain refills for their prescribed medications.' Otherwise, 79% of patients adhered to the treatment. As of June, Sofdra's prescriber base stood at 2300 docs. Now to profitability In June the company's gross yield to to net revenue stood at 23%, up from 13% in January. This reflects the amount pocketed by intermediaries by way of discounts, rebates and such. While Botanix's take seems low, management says its share of the pie is industry leading. The company targets a 30-40% range, compared to generic skin offerings that might only attract a 10-15% margin. Management also said the proportion of reimbursed scripts has also grown to 39% of the total, compared with 26% at the start of January. Meanwhile, Botanix is expanding its US reach from an initial reach of 27 to 33, with plan underway to increase the number to 50. The company also reassured investors that it was not planning a capital raising and that Trump's tariffs likely would be immaterial. Botanix currently is holding an event series called 'Summer of Sweat'. This sounds like a Woodstock style festival but it's a forum for Botanix execs to meet with healthcare providers across 14 US cities. Woodstock went ahead despite torrential rain and we're sure management will rock on despite the setback. Cochlear hears good news from the FDA In a disclosure Hemingway-esque in its brevity, Cochlear (ASX:COH) today said the FDA has approved its next-generation Nucleus Nexa implants – 'the world's first and only smart cochlear implant system' – as well as its Nucleus Kanso and Kanso 3 Nexa sound processors. Cochlear hopes the refreshed products will staunch recent weakness in its developed country sales. The company launched the 'Nucleus Nexa System' – the implant/processor comb -in Europe and the Asia Pacific last month. It plans to launch the products in the US in the current quarter. Syntara's new name will grow on us Most investigative drug names are odd for a reason, because they need to be unique and avoid bold therapeutic claims. Come to think of it, they can't mean much at all – as Syntara's (ASX:SNT) new drug name would attest. The World Health Organisation has ascribed an International Non-Proprietary Name (INN) to Syntara's myelofibrosis drug candidate, SNT-5505. Commonly known as a generic name, an INN is a globally recognised, unique name for a pharmaceutical substance or active ingredient. The new moniker for SNT-5505? Amsulostat. Syntara CEO Gary Phillips says the name reflects the drug's 'unique mechanism of action and clinical promise'. We're sure it will grow on everyone over time – and we've heard worse.
Yahoo
02-07-2025
- Business
- Yahoo
Bitcoin Scaling Solution Botanix Launches To Solve Bitcoin DeFi
Bitcoin Scaling Solution Botanix Launches To Solve Bitcoin DeFi originally appeared on TheStreet. Bitcoin may have risen to new all-time highs by solidifying its place on the world stage as "digital gold," but a new blockchain is now officially launching to unlock new ways for holders to leverage the asset's "digital" store of value. "Right now, we're in this interesting space where you have Bitcoin [as] a store of value that doesn't do anything," Botanix co-founder Willem Schroe recently told Coinage, pointing out that most of the lending against Bitcoin is still handled by centralized, off-chain lenders. "There's so much more in the world that needs to come onchain." Botanix is looking to solve that by launching its mainnet to pair Bitcoin with the world of DeFi already built on Ethereum. Up until now, that bridge has mostly been gapped by centralized, offchain lenders or onchain custodians, like BitGo or others, offering wrapped bitcoin assets across different chains. Historically, centralized lenders and centralized chokepoints for liquidity have run into issues. Centralized bitcoin lenders BlockFi and Celsius both imploded in the 2022 crypto winter that followed in the wake of Terra's $40 billion collapse. Bitcoin lending has slowly returned, but options usually carry higher interest rates than what's available in DeFi. Botanix is looking to make it easier for users to close that gap by pairing Bitcoin's value as digital gold with their Ethereum compatible chain to let users tap DeFi on Ethereum. "You've got these two worlds, and I absolutely believe they are converging. That's what we're building," he said. "The reason is, it's going to be more permissionless, more transparent, it's going to be global, it's going to be onchain. That's what we're building for." Other projects, like Stacks and Babylon have similarly attempted to find their footing in a similar space — offering ways for holders to finally leverage Bitcoin beyond just sitting on it. According to Schroe, the lack of programmability on Bitcoin has kept builders away, but that's quickly shifting. "There's a lot of people building a lot of infrastructure. Now, we still have to see it actually play out, but I think over the next four years, this Bitcoin Layer-2 market, just because there is so much liquidity ... can go really, really fast," he said. "I think four years from now you'll see this whole Bitcoin application market absolutely explode." So far, it's been a tough battle for Bitcoin scaling projects to convince holders in the Bitcoin world to unlock Bitcoin's store of value onchain. It may continue to take time, but Schroe remains set on chipping away at what continues to be an ever-growing market opportunity. "Take the TVL of Ethereum DeFi ... it's going to be somewhere around $50 billion," Schroe says. "Ethereum is one fifth or one fourth [the market cap] of Bitcoin ... so that means the potential DeFi market on Bitcoin Layer-2s should be $250 billion." As a novel part of the mainnet launch, Botanix is also jointly launching 'Bitcoin 2100', a retro-futuristic video game to get users comfortable with what's left to explore using Bitcoin onchain. Users can collect fractionalized pieces of Bitcoin (sats) by playing in a stylized world set in the year 2100, where Bitcoin has become the rails of a new financial system. Each house within the game represents a different live application on the Botanix network, such as Arch, Rover, and others, giving users new ways to discover what's possible when Bitcoin becomes programmable. Bitcoin Scaling Solution Botanix Launches To Solve Bitcoin DeFi first appeared on TheStreet on Jul 2, 2025 This story was originally reported by TheStreet on Jul 2, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Forbes
01-07-2025
- Business
- Forbes
Year Of The Spider: Enter The Botanix EVM-Compatible Bitcoin Layer 2
The Glass Spider Tour, David Bowie, Festivalground, Werchter, Belgium, 02/06/1987. (Photo by Gie ...) For nearly a decade, Alisia Painter has seen firsthand how the world's largest cryptocurrency remained largely static – bought, sold, and held, but rarely put to work. But after years of watching bitcoin's potential remain largely untapped, Painter and her team began building Botanix two and a half years ago with a simple question: if bitcoin has established itself as the premier cryptocurrency, why isn't anything being built on it? The answer lies in the fact that bitcoin's original design prioritized security and decentralization over programmability. While smart contracts flourished on networks like Ethereum and Solana that promoted these capabilities, bitcoin retained primarily a store of value function despite having the largest market capitalization and adoption of any cryptocurrency. During an interview with me for Roxom TV at Bitcoin Las Vegas, Painter explained that the vast majority of bitcoiners only engage in three basic activities: buy, sell and hodl. Digital Gold to Programmable Money Botanix Labs, the company Painter co-founded alongside Willem Schroé, is looking to change that mindset. On July 1 it launched the Botanix mainnet with the aim to transforming bitcoin from digital gold into programmable money that can power a full financial ecosystem. She emphasized that up until now, the growth of decentralized and on-chain finance over the last five years has largely bypassed the bitcoin world: The Botanix blockchain looks to empower bitcoiners by bringing smart contract functionality directly to the $2 trillion bitcoin network without compromising on core principles. The Botanix Labs team claims that the network is the first fully-decentralized bitcoin Layer 2 that is also Ethereum Virtual Machine compatible, meaning that it can support smart contracts originally created to be run on Ethereum. Enter the Spiderchain Security is always a key consideration when introducing any new product to bitcoin's battle-heartened community. For Botanix, the unlocking innovation is the "Spiderchain," a novel cryptographic primitive that enables bitcoin scaling while maintaining full decentralization. While communicating this innovative security model to the community has been a challenge, Painter said that even the most diehard hodl-ers are growing more comfortable with the concept: While other similar bitcoin onchain finance solutions rely on bridges to other blockchains that pose security risks, Botanix operates entirely within the bitcoin ecosystem – minimizing the risk of funds lost due to bridge hacks and reliance on centralized custodians. To ensure full decentralization of the network from the outset, governance of Botanix has been formally shifted away from Botanix Labs to an independent federation of 16 independent node operators, including Fireblocks, Galaxy, Alchemy, Kiln, XBTO, Antpool and others. There are plans to expand this federation to 100 operators by 2026. In a statement, Botanix Labs co-founder Schroé elaborated: The Botanix mainnet launch brings with it more than 40 new applications going live simultaneously, affording users the ability to trade, borrow, lend, stake, and provide liquidity to earn bitcoin native yield. These applications include major protocols like the perpetuals decentralized exchange GMX and the Dolomite lending protocol, as well as bitcoin-native applications like Bitzy and Palladium, the world's first bitcoin-backed stablecoin. Why the emphasis on yield generation? Because hardcore bitcoiners don't want to sell their coins, Painter explains. Rather, they want to use them as collateral to borrow against. The team emphasizes that users of these applications will see a significantly improved user experience compared to bitcoin mainnet – namely five second block times on Botanix compared to 10 minutes on bitcoin – with average transaction fees of just $0.02. While some factions argue that bringing programmability and related features to bitcoin is a diversion from its original vision and a potential security threat, Painter argues that bringing increased utility is essential for driving new adoption: Bitcoin Programmability Key to Emerging Markets For Painter, the launch represents more than just technological achievement. Rather, it's about fulfilling bitcoin's original promise as peer-to-peer electronic cash while addressing the financial inclusion challenges that first drew her to the space. Her journey into Bitcoin began in 2015 while living in Brazil, where she encountered the same financial pain points that she had witnessed across other parts of the world: limited banking access, volatile national currencies, and barriers to moving money globally. She saw how bitcoin could provide a pristine asset to populations who otherwise have no such access to something of such quality. Furthermore, she emphasized that programmability and usability of bitcoin is critical to unlocking its full potential in underserved parts of the world:
Yahoo
01-07-2025
- Business
- Yahoo
Bitcoin Layer-2 Botanix Mainnet Debuts, Cuts Block Times to 5 Seconds
The mainnet of Botanix, a network designed to bring Ethereum-equivalent utility to the Bitcoin ecosystem, has gone live, slashing the time it takes to add new blocks to five seconds from 10 minutes. The network is compatible with the Ethereum Virtual Machine (EVM), the software that powers the Ethereum blockchain, allowing Ethereum-based applications and smart contracts to be copied and pasted onto Bitcoin, developer Botanix Labs said in an email. Botanix is one of several projects attempting to scale the Bitcoin blockchain and make it a more conducive venue for decentralized finance (DeFi) by enhancing its utility and programmability. Others include Rootstock, Stacks and BOB ("Build on Bitcoin"), which have all adopted the BitVM computing paradigm that can make complex computations verifiable on Bitcoin, paving the way for smart-contract provision, similar to Ethereum's. The expansion of Bitcoin's utility would allow developers to take advantage of the value held in BTC, which dwarfs that of all other digital assets. Botanix Labs also emphasized its decentralized governance structure. The mainnet launch coincides with its transition to being operated by a foundation of 16 node operators. Botanix said it expects the number to grow beyond 100 in 2026. The founding federation includes some of the biggest names in cryptocurrency, including as Mike Novogratz's financial services firm Galaxy Digital and crypto custody specialist Fireblocks. "If we want a world that runs on Bitcoin, we have to build systems that honor its core principles of self-custody, open participation and global fault tolerance,' Botanix Labs CEO Willem Schroé said. 'Too many Bitcoiners have been burned by centralized platforms, which is why Botanix is fully decentralized at launch. No single party, including us, can touch a user's Bitcoin." Several products that will form the basis of Botanix's Bitcoin DeFi (BTCFi) offering also debuted in conjunction the mainnet launch. These include BTC-backed stablecoin Palladium and decentralized exchange Bitzy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
