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- Immuron (IMC) shares are rising after posting its Travelan and Protectyn sales figures for Q3 FY23
- Global Q3 YTD sales of Travelan and Protectyn have risen by 239 per cent in FY23 to reach $1.46 million
- In Australia, sales of both products for Q3 totalled $577,000 in Australia – a 101 per cent increase for 1H FY23
- In North America, Travelan Q3 YTD FY23 sales hit $595,000, up by 70 per cent on the corresponding period in FY22
- Shares in IMC are up 14.3 per cent, trading at 8 cents at 12:45 pm AEST
Shares in Melbourne-based biotech company Immuron (IMC) were soaring on Thursday morning after posting its Q3 FY23 financial figures.
The company has two commercially available oral immunotherapeutic products for the treatment of gut-mediated diseases – Travelan and Protectyn – which saw sales increases during Q3 FY23.
Global Q3 YTD sales of Travelan and Protectyn are up by 239 per cent in FY23 to $1.46 million – up from $430,000 for the corresponding period in FY22.
In Australia, sales of both products for Q3 reached $577,000 in Australia, marking a 101 per cent increase for 1H FY23.
Australian Q3 YTD FY23 sales totalled $864,000, representing a significant increase over the corresponding period in FY22, which was $80,000.
Immuron attributed the sales boosts to an increase in overseas travel.
Elsewhere, North American sales of Travelan for Q3 FY23 reached $298,000, a small rise on the sales for 1H FY23.
North American Travelan Q3 YTD FY23 sales have reached $595,000, up 70 per cent on the corresponding period in FY22.
The company put the growth down to an increasing rise in sales in both Passport Health Travel Clinics and distributor sales.
Immuron said moving forward, it will be focused on growing sales of its commercial products, expanding its portfolio of products and has a strong existing pipeline.
Shares in IMC were up 14.3 per cent, trading at 8 cents at 12:45 pm AEST.
