Firebrick Pharma Raises AU$0.2 million via Placement to Support Nasodine Expansion.

Firebrick Pharma Limited (ASX: FRE) has raised approximately AU$0.2 million through the issue of around 3.1 million new fully paid ordinary shares at AU$0.063 per share, marking a 14.6% discount to the 15-day VWAP and a 10% discount to the last close. The capital raise fell short of the original AU$1.6 million target, which aimed to fund the expansion of Nasodine® Nasal Spray in the US and Southeast Asia and support the development of new Nasodine-branded products for FY2026.

Dr. Peter Molloy, Executive Chairman of Firebrick Pharma, recognized the shortfall in the capital raise and stated that the company plans to review its spending priorities and consider other funding avenues. Investors will receive one complimentary attaching option for every two shares acquired as part of the placement terms. These options carry an exercise price of AU$0.095 and are valid for a period of three years from the date of issuance. The total 3.1 million shares issued account for approximately 1.4% of the company’s existing share capital.

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