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Immuron (NASDAQ:IMRN) ADRs trended higher premarket Wednesday after the Australian biotech disclosed the latest sales data for its antibacterial medication Travelan.
According to the company, Travelan, an over-the-counter immune supplement indicated for travelers’ diarrhea, generated AUD$1.3M globally during the March 2024 quarter, with 51% YoY and 75% growth from the last quarter.
Sales for the FYTD period ending March 2024 stood at AUD$3.6M, indicating ~154% YoY growth as U.S. sales of Travelan reached AUD$0.8M with ~35% YoY growth.
During the quarter, Travelan sales in the U.S. increased 7% YoY to AUD$0.3, while Australia sales rose ~70% YoY to AUD$0.9M.
The company attributed the U.S. sales performance to a spike in U.S. international departures, which stood at 11% higher in November 2023 compared to a year ago.
“We hope to get similar growth of the brand as we increase our investment and distribution in North America during the spring (Mar-May) / summer (Jun-Aug) vacation peak period,” IMRN’s Chief Commercial Officer, Flavio Palumbo, remarked.
Additionally, the company said it has started selling Travelan through Walmart.com (WMT) for U.S. customers.