Whilst Botanix Pharmaceuticals (BOT: $0.165) is making excellent progress in gaining early traction for its new dermatology drug for the treatment of excessive sweating, the low initial gross-to-net margin appears to have surprised investors. This has resulted in the company’s share price falling by 51%.

Clever Culture Systems (CC5: $0.032) has announced the sale of its APAS Independence instrument to its fourth major customer, Novo Nordisk, the supplier of the weight-loss drug Ozempic. The APAS instrument costs around US $350,000, with the potential for Novo Nordisk to deploy it across its 16 major production facilities (potential sales of US $8.6 million). Novo Nordisk has purchased the instrument to assess its functionality by its centralized team in Denmark. If it performs well, a rollout across all major manufacturing sites can be expected.

Imugene (IMU: $0.28) continues to produce very good data from its Phase Ib study with its Azer-cel technology in patients with lymphoma (DLBCL) who have failed multiple lines of previous treatments. DLBCL is one of the most aggressive types of lymphoma.