The present invention provides a topical formulation comprising pexiganan or an acid addition salt thereof comprising a first hydrophilic surfactant having an HLB value between about 12 and about 17 and a second hydrophobic surfactant having an HLB value between about 3.5 and about 5.5, wherein the first hydrophilic and second hydrophobic surfactants comprise from about l.5 % w/w to about 5.0 % w/w of the formulation and the weight ratio of the first to second surfactants is such that the blended HLB is between 12.5 and about 14.5. The invention also provides methods of preparing the same and a method of treating a skin or wound infection comprising topically applying to a patient in need thereof at the site of infection an effective amount of the formulations of the present invention.