Firebrick Pharma Ltd (ASX:FRE) Reports December Quarter Highlights
Quarterly Operations Overview
Firebrick Pharma Limited (ASX:FRE) has reported significant progress in expanding the sales of its Nasodine® Nasal Spray in Singapore during the quarter ending 31 December 2024. The company entered a Marketing Representation Agreement with Innorini Life Sciences, which commenced promotional activities with healthcare professionals in Singapore. Additionally, Firebrick established a sales agreement with Guardian Health & Beauty, the largest pharmacy chain in Singapore, facilitating distribution of Nasodine through Guardian’s retail pharmacies.
The company also partnered with DKSH Singapore Pte Ltd to provide logistics for these sales. Retail pharmacy stocks of Nasodine were shipped in December 2024, with sales commencing in January 2025. Future updates will outline sales developments throughout 2025.
Financial Performance
As of 31 December 2024, Firebrick held cash and cash equivalents of $0.91 million, a decrease from $1.14 million in the previous quarter. The net cash outflow from operations was $939, which was balanced by an inflow of $774, thanks to capital raising activities. Payments to related parties totalled $216, reflecting remuneration and fees, which increased due to the timing of various payments.
Firebrick’s operating activities have demonstrated a robust potential for future revenues, particularly with the expansion of Nasodine into the Singaporean market. The company is confident in increasing revenue streams as it continues to promote and distribute its products.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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