Firebrick Pharma to debut on the ASX
Firebrick Pharma will be listed on the Australian Securities Exchange (ASX) from 12:30pm AEDT on Friday, 28 January.
The Company’s flagship product, Nasodine® Nasal Spray (“Nasodine”) kills respiratory viruses and has already completed one Phase 3 clinical trial as a treatment for the common cold*.
In 2022, the Company plans to complete a second, confirmatory Phase 3 trial aimed at gaining regulatory approval.
After nearly 10 years of development, including a series of human clinical trials, Nasodine is potentially one more Phase 3 trial away from approval for use as a treatment for the common cold.
In addition to the common cold, we are also investigating the potential for Nasodine to be used in the management of pandemic viral diseases, including COVID-19.
Firebrick Pharma will debut with a market capitalisation of $33.8 million and approximately $11 million in cash reserves.
Funds raised in the IPO will be used to support ongoing clinical trials, as well as operating costs.
*Nasodine is not yet approved for sale in Australia or elsewhere.