PEAK ASSET: ARVO WRAP 31 March: ASX snaps three-day losing streak on war hopes | RBA faces trade-off as inflation outpaces employment gains | Firebrick Pharma Raises $1.5m to Advance Product Development and Commercial Expansion |

Firebrick Pharma Raises $1.5m to Advance Product Development and Commercial Expansion

• FRE raises A$1.5m; 31.9m shares at A$0.047; 16.5% VWAP discount.

• Options: 1-for-2; A$0.095; expiry 4 Jul 2028.

• Nasodine approved in Indonesia; SEA market opens.

Firebrick Pharma (ASX: FRE) has secured firm commitments to raise approximately $1.5 million through a placement to new and existing sophisticated investors.

The company will issue approximately 31.9 million fully paid ordinary shares at $0.047 per share, representing a 16.5% discount to the 15-day volume weighted average price (VWAP) to 26 March 2026 and a 13% discount to the last traded price.

Funds from the placement will support business development and licensing activities, new product development for two additional products, and working capital over the next 12 months.

Investors will receive one free attaching option for every two shares issued, with each option exercisable at $0.095 and expiring on 4 July 2028.

The shares and options are expected to be issued on or around 9 April 2026, with SP Corporate Advisory acting as lead manager and receiving a 6% fee on funds raised along with additional options.

Indonesia Approval Opens Major Opportunity

Earlier this month, Firebrick secured importation and distribution approval for its Nasodine nasal spray product in Indonesia, marking the first regulatory approval for the product.

The approval allows immediate marketing of Nasodine in Indonesia under the ‘antiseptic’ category within household health supplies.

Indonesia represents a significant commercial opportunity as the largest market in Southeast Asia.

Firebrick has executed a Product Registration Services Agreement with PT Pyridam Farma Tbk, enabling access to the regulatory approval and facilitating importation and distribution.

Pyridam and its affiliate will manage regulatory processes—including maintaining approvals and handling Ministry of Health interactions—in exchange for reimbursement of regulatory costs and a 4% importation assistance fee.

Key Commercial Milestone

Executive chair Dr Peter Molloy described the Indonesian approval as a key milestone for the company’s commercial strategy.

“As Nasodine’s first regulatory approval, this Indonesian approval is a pivotal event for Firebrick,” Dr Molloy said.

“Given that Indonesia has a population of 285 million and is the largest market in Southeast Asia, this approval is also a massive value inflection point for Firebrick.”

Before sales commence, Firebrick must complete local language packaging and secure a local marketing partner, which the company has identified as a priority initiative.

Source: SmallCaps