Immuron achieves record quarterly Travelan® sales

Rhea-AI Summary

Immuron Limited announces record quarterly sales of Travelan®

Positive

• Record quarterly sales of Travelan® at $1,550,240
• Sales of Travelan® in Q1, FY24 increased by $940,991 (236%) compared to pre-pandemic peak period
• Short term resident returns in Australia and U.S. approaching pre-pandemic levels

Negative

• Sales of Travelan® in the U.S. were lower by $20,499 (-9%) compared to pre-pandemic peak period

Highlights:

• Record quarterly Travelan^® sales of $1,550,240
• Total sales of A$1,565,767 in Q1, FY24
  • $1,508,933 increase on Q1, FY23 sales
  • 130% higher than pre-pandemic period Q1, FY20 sales

MELBOURNE, Australia, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to announce record quarterly sales (unaudited net sales) of its over-the-counter gastrointestinal and digestive health immune supplement Travelan^®.

Australia

Immuron previously reported (August 9, 2023) that short term stock outages of Travelan^® in some wholesalers and pharmacies in the June 2023 quarter was resolved following receipt of GMP Clearance from the Therapeutic Goods Administration (TGA). Immuron has since supplied product to wholesalers who in turn have supplied retail pharmacies.

Sales of Travelan^® increased to AUD $1,339,160 in Q1, FY24, compared to AUD $25,565 in Q1, FY23. Sales increased by $940,991 (236%) on the pre-pandemic peak period (Q1, FY20). This increase partially reflects 3 months (May, June, July) of backorders accrued while awaiting GMP Clearance from the TGA.

Immuron anticipates continued demand for replenishment of Travelan^® as retail pharmacies sell to consumers. Australian Bureau of Statistics: short term resident returns in July 2023 were 48% higher than July 2022 and approaching pre-pandemic levels (89% of July 2019)¹. Cumulative short term resident returns in the 12 months to July 2023 were 77% of those in the pre-pandemic period 12 months to July 2019. ¹

USA

Sales of Travelan^® increased to AUD $211,080 in Q1, FY24, compared to AUD $16,614 in Q1, FY23. Sales were lower by $20,499 (-9%) on the pre-pandemic peak period (Q1, FY20).

International Trade Administration Total U.S. citizen international visitor departures from the United States in June 2023 increased 20.2% compared to June 2022 and were 99.4% of total departures in June 2019. ²

Immuron’s target departure markets ³, June 2023 quarter departures were only 3% lower than the pre-pandemic period June 2019. ²

Immuron previously reported (July 5, 2023) that it had shipped inventory to Amazon for launch in USA. The Amazon launch has been progressing well with sales ahead of budget. We are now entering the low travel season in USA. Immuron anticipates sales to grow strongly closer to the peak spring / summer travel period.

1. https://www.abs.gov.au/statistics/industry/tourism-and-transport/overseas-arrivals-and-departures-australia/latest-release
2. https://www.trade.gov/sites/default/files/2023-09/US-Outbound-to-World-Regions.xlsx
3. Caribbean, Asia, South America, Central America, Africa, Mexico
   

This release has been authorised by the directors of Immuron Limited.

COMPANY CONTACT:

Steven Lydeamore
Chief Executive Officer
Ph: +61 (0)3 9824 5254
info@immuron.com 

About Immuron
Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases.

For more information visit: http://www.immuron.com

FAQ

What were the quarterly sales of Travelan®?

The quarterly sales of Travelan® were $1,550,240.

How much did sales of Travelan® increase compared to the pre-pandemic period?

Sales of Travelan® in Q1, FY24 increased by $940,991 (236%) compared to the pre-pandemic peak period.

What is the current state of short term resident returns in Australia and the U.S.?

Short term resident returns in Australia and the U.S. are approaching pre-pandemic levels.

How did sales of Travelan® in the U.S. perform compared to the pre-pandemic period?

Sales of Travelan® in the U.S. were lower by $20,499 (-9%) compared to the pre-pandemic peak period.