Firebrick Pharma reports a reduced half-year loss of $1.26 million while launching its Nasodine Throat Spray in Singapore and Fiji, with regulatory approval pending in the Philippines.
- Half-year net loss improved by 12.7% to $1.26 million
- Revenue down 67.8% due to timing of large sales but cash revenue up 42%
- Nasodine Throat Spray launched in Singapore and Fiji export markets
- Philippines FDA review underway for Nasodine Nasal Spray approval
- Operating expenses cut by 17%, marketing costs shifted to licensees
Financial Performance and Revenue Dynamics
Firebrick Pharma Limited (ASX: FRE) has reported a net loss of $1.26 million for the half-year ended 31 December 2025, marking a 12.7% improvement compared to the previous corresponding period. While reported revenue fell sharply by 67.8% to $63,267, this decline is largely attributed to the timing of a significant sale to a Singapore distributor recognised in the prior year. On a cash basis, revenues actually increased by 42% to $75,531, reflecting stronger underlying sales momentum.
Product Launches and Market Expansion
The period saw the commercial launch of Firebrick’s Nasodine Throat Spray, a 1% povidone-iodine solution designed to treat and prevent sore throats linked to upper respiratory infections. Manufacturing was completed in November 2025, with exports commencing to Singapore in early January 2026. The product is being actively promoted to government hospitals and healthcare professionals in Singapore through licensing partner Innorini Life Sciences, with retail promotion planned for mid-2026. Following this, Firebrick’s licensee in Fiji and the South Pacific placed its first order, signalling early traction in that region.
Regulatory Progress and Future Prospects
Regulatory approval efforts continue with the Philippines FDA having accepted the registration dossier for Nasodine Nasal Spray in January 2026. The review process is expected to take at least six months, and approval would open a significant new market for Firebrick. The company is also exploring additional Southeast Asian and Middle Eastern markets, aiming to broaden Nasodine’s international footprint.
Cost Management and Operational Efficiency
Operating expenses decreased by 17% to $1.32 million, driven by a 21% reduction in non-cash expenses and a strategic shift of marketing costs to licensees, notably in Singapore. This lean cost structure supports Firebrick’s goal of moving towards profitability as sales scale. The company also benefited from a $250,840 R&D tax incentive payment during the period.
Corporate Developments and Governance
Firebrick strengthened its board with the appointment of Mr Rick Legleiter as a non-executive director in August 2025 and Mr Al Moghaddam in March 2026. Shareholder sentiment remains positive, with a recent survey highlighting above-average scores for transparency, leadership, and commercial focus. The company continues to rely on equity raisings to fund operations, with cash reserves of $1.44 million as at 31 December 2025 and plans for further capital raises to support growth initiatives.
Bottom Line?
Firebrick’s strategic product launches and disciplined cost control set the stage for potential profitability, but ongoing funding and regulatory approvals remain critical hurdles.
Questions in the middle?
- How quickly will the Philippines FDA approve Nasodine Nasal Spray, and what impact will this have on sales?
- Can Firebrick sustain revenue growth and move towards profitability without further capital raises?
- What are the prospects and timelines for Nasodine product launches in other Southeast Asian and Middle Eastern markets?