Firebrick Pharma (ASX: $FRE) Quarterly Activity Report

Firebrick Pharma Limited (ASX: $FRE) has released its quarterly activity report for the quarter ending 30 June 2024. The report highlights the successful launch of Nasodine Nasal Spray in the US and Singapore markets, along with the securing of a placement with a substantial holder. The company also provided a financial overview, reporting an increase in cash and cash equivalents compared to the previous quarter.

Executive Commentary

The launch of Nasodine in the US and Singapore represents a significant milestone for Firebrick Pharma. We are pleased with the initial response to Nasodine in the US market and anticipate increased sales as we approach the northern hemisphere winter. The classification of Nasodine as a topical antiseptic in Singapore allows us to promote it as a 'first-in-class' product, and we are optimistic about its potential in this region. The grant of a patent in South Africa further strengthens our position, and the publication of our Phase 1 trial in a reputable journal underscores the product's safety and tolerability. The secured placement with a substantial holder provides us with the necessary funds to support the launch costs for Nasodine and our ongoing working capital requirements. We remain confident in our ability to continue operations and meet our business objectives.

Summary

Firebrick Pharma (ASX: $FRE) has achieved significant milestones in the quarter ending 30 June 2024, including the successful launch of Nasodine Nasal Spray in the US and Singapore markets. The company's focus on international expansion is evident through the grant of a patent in South Africa and the publication of its Phase 1 trial in a reputable journal. The secured placement with a substantial holder further strengthens the company's financial position. With an increase in cash and cash equivalents compared to the previous quarter, Firebrick Pharma is well-positioned to support the ongoing commercialization of Nasodine and meet its business objectives. The company anticipates growth in sales of Nasodine in existing markets and expects to receive an R&D incentive rebate in the coming quarter, demonstrating confidence in its future prospects.