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Firebrick Pharma Limited ( (AU:FRE) ) has shared an update.
Firebrick Pharma Limited announced it has closed a placement securing approximately $0.2 million through the issuance of 3.1 million new shares, falling short of its original target of $1.6 million. The funds were intended to expand Nasodine Nasal Spray sales in the US, increase distribution in Singapore, and support the launch of new products in South-East Asia. Despite the shortfall, the company received positive feedback from investors and plans to review expenditures and explore alternative funding options.
More about Firebrick Pharma Limited
Firebrick Pharma is a pharmaceutical innovator focusing on developing and commercializing novel formulations and uses of povidone-iodine (PVP-I). The company is currently commercializing Nasodine Nasal Spray and has introduced it in the United States, Singapore, Fiji, and the South Pacific, with plans to manufacture and launch in the Philippines.
Average Trading Volume: 57,910
Technical Sentiment Signal: Sell
For detailed information about FRE stock, go to TipRanks’ Stock Analysis page.