
Firebrick Pharma to debut on ASX as it seeks to bring Nasodine Nasal Spray to market
- Aussie pharma innovator to list with a market cap of $33.8m and about $11m in cash reserves.
- Trademarked breakthrough Nasodine Nasal Spray kills respiratory viruses in the nose.
- If approved for sale, it will be the first commercial nasal spray medicine that targets the viral cause of colds.
Australian pharmaceutical innovator Firebrick Pharma will list on the Australian Securities Exchange (ASX) tomorrow (January 28) as the company seeks to bring its breakthrough Nasodine Nasal Spray to market.
Melbourne-based Firebrick has already successfully raised $7 million in its ASX initial public offering (IPO) and is listing under code “FRE”.
Firebrick Pharma will debut with a market capitalisation of $33.8 million and will have about $11 million in cash reserves, with the funds raised in the IPO to be used to support ongoing clinical trials, as well as operating costs.
One of Western Australia’s largest stockbroking firms, Euroz Hartleys, was the sole lead manager for the listing.
The company’s flagship product, Nasodine Nasal Spray, kills respiratory viruses in the nose and has been developed initially as a treatment for the common cold.
It has already completed one Phase 3 clinical trial as a treatment for the common cold and Firebrick Pharma plans to start a confirmatory Phase 3 trial in 2022 aimed at gaining regulatory approval.
If approved for sale, it will be the first approved nasal spray medicine that targets the viral cause of colds.
The company’s co-founders Dr Peter Molloy and Dr Stephen Goodall have spent nearly a decade developing Nasodine, which if approved, will be a first-in-class nasal spray medicine that targets the viral cause of the common cold.
Early in his career, Dr Peter Molloy launched Betadine Sore Throat Gargle in Australia. Subsequently, he teamed up with Dr Stephen Goodall to start Firebrick Pharma in 2012 with the aim of creating a nasal spray based on the same active ingredient (povidone-iodine) and developing it as a treatment for the common cold.
In addition to the common cold, Firebrick is also investigating the potential for Nasodine to be used in the management of more serious viral illnesses.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this

Similar stories
Which stocks are shooting up today?
After the first 20 minutes of trade, these are the stocks that are shooting higher
...read moreCurrencies while you were sleeping
The Australian dollar was higher against the major currencies overnight. The Aussie dollar is buying
...read moreCrypto while you were sleeping
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read moreDrill down into today’s commodities
Today’s prices for the basket of key commodities tracked by Grafa are as follows: The
...read moreWhat to expect on the ASX today
ASX Futures trading higher ahead of the market open in Sydney. Dow Jones closed up
...read moreThe cryptos making waves in the afternoon
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read moreThe price we have to pay: Australian businesses reveal
48% of businesses say they will not raise prices, primarily due to the desire to
...read moreThe biggest movers of the flyweight cryptos today
Of the micro cryptos, these ones were the movers. Mcashchain rose 338.90% to US$0.015, closing
...read moreThe biggest movers of the featherweight cryptos today
Of the smaller cryptos, these ones were the movers. Mirrored iShares Gold Trust rose 353.48%
...read moreThe biggest movers of the middleweight cryptos today
Of the middle-sized cryptos, these ones were the movers. Metacraft rose 66.39% to US$1.31, closing
...read moreSee more stories like this
