Immuron posts $2.2M quarterly sales revenue
Key points
- Immuron recorded unaudited Q1 sales of $2.2 million.
- The result represents a 9% year-on-year increase and a 5% quarter-on-quarter gain.
- Strong sales of Travelan in Australia and Canada offset quarterly declines in the U.S. market.
Biopharmaceutical business Immuron (ASX:IMC) generated $2.2 million in unaudited global sales for the quarter ended Sept. 30.
The quarterly total represents a 9% increase compared to the prior corresponding period and a 5% gain over the previous quarter.
Australian sales of Travelan grew 14% year-on-year to $1.8 million following a brand relaunch, while Canadian sales surged 286% to $0.1 million.
Sales in the U.S. declined 19% year-on-year to $0.3 million due to Amazon Prime Day timing in June and temporary customs delays.
Immuron stated that U.S. inventory has since been replenished ahead of upcoming shopping events like Thanksgiving, Black Friday, and Cyber Monday.
Following the announcement, the Immuron share price was unchanged at $0.036.
The company continues to expand distribution for PROIBS, which is now stocked by wholesaler Sigma and available in Amcal and DDS pharmacies.
In pharmacy sales, Travelan recorded 26.4% growth over the last 13 weeks, outpacing the broader category growth rate of 5.3%.
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