This is a 33% increase in sales compared to US$29.3 million for the previous quarter to 30 June, 2016.
Acrux shares were last trading at $0.355, up 6% intraday.
Axiron is an underarm testosterone solution used to treat adult males who have low or no testosterone due to certain medical conditions.
Acrux has developed Axiron and licensed it to Eli Lilly, receiving royalty payments on the basis of sales.
Acrux’s royalty revenue has increased to $25.5 million for the year ended 30 June 2016, compared to $24.6 million for FY2015.
Cash reserves at FY2016 end were $29.4 million, an increase of 27.3% compared to the prior financial year.
Based on June 2015 data, collective annual sales of topical and transdermal products in the U.S. exceeded US$18 billion.
Importantly, Acrux has Identified a portfolio of topical and transdermal generic products for development.
The addressable annual market in the U.S. for Acrux’s first three topical generic projects is over US$440 million.