Firebrick (ASX:FRE) secures $732k placement for Nasodine, anchored by Philippines licensing partner
Firebrick Pharma Limited (ASX:FRE) has received firm commitments from strategic investors for approximately $732k, through a placement of approximately 20.9 million fully paid ordinary shares at $0.035 per share.
The placement was anchored by Pharma Nutria N.A. Inc. (PN-NA), a member of the S. V. More Group of Companies and the Company’s licensing partner in the Philippines. PN-NA invested $631,750, which increases its holding in Firebrick to just over 10.0%.
The remaining $100,000 is being invested by an existing sophisticated investor who has supported the Company since its listing on the ASX.
A licensing partner increasing its stake offers a read on how a commercial partner views the Nasodine franchise. The investments follow the ASX announcements of 29 September 2026 and 7 October 2026, in which the Company announced its intention to enter the US retail pharmacy market for Nasodine products.
Peter Molloy, CEO and Executive Chairman
“…It reflects an important commercial affirmation for the Nasodine franchise and should be seen as very encouraging by all shareholders.”
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Placement terms and premium pricing
The placement is a single transaction, priced at $0.035 per share. That price sits above both the recent average and the last traded price, as the table below shows.
| Item | Detail |
|---|---|
| Issue price | $0.035 |
| Premium to 15-day VWAP to 9 October 2026 ($0.0288) | 21.5% |
| Premium to last trading price on 9 October 2026 ($0.029) | 20.7% |
| Shares issued under 7.1A capacity | 18,050,000 |
| Shares issued under 7.1 capacity | 2,857,142 |
The total shares to be issued represent approximately 7.28% of current shares on issue (287,198,985). VWAP stands for volume-weighted average price, the average price of trades over a period weighted by the volume traded.
Other terms from the announcement:
- Receipt of the placement funds will be staggered.
- The final number of shares is expected to be issued by 20 October 2026.
- No material costs or commissions have been paid in connection with the placement.
Pricing at a premium to market is a favourable feature for existing holders. The absence of material costs also means the proceeds are not reduced by fees.
What is a placement and why does it matter to investors?
A placement is a capital raising in which a company issues new shares to selected investors rather than offering them to the general public. This approach is typically faster and cheaper than a full public offer.
The 7.1 and 7.1A capacities referenced in the announcement are the Company’s existing placement capacities, which govern how many shares it can issue under the ASX listing rules without shareholder approval.
Placements are often priced at a discount to market. This one was priced at a premium of 21.5% to the 15-day VWAP, and it was anchored by a strategic partner rather than placed purely with financial investors. For shareholders, that combination is a different proposition from a discounted raise.
How Firebrick will deploy the funds
Firebrick stated that proceeds from the placement will be applied as follows:
- New production for US retail distribution
- Production and launch in Singapore of a new Nasodine product
- Working capital
The announcement does not disclose how the proceeds will be split between these uses.
The uses link to the Company’s commercial activity. Nasodine Nasal Spray (0.5% PVP-I) has been introduced into several markets and was recently approved for marketing in Indonesia, with approval in the Philippines expected. Nasodine Throat Spray is the first follow-on product in the Nasodine range and is now available in Singapore and soon in the US.
In the US, Firebrick is expanding from online sales only to actively pursuing retail pharmacy distribution.
The board-approved three-phase US retail pharmacy plan targets up to 32,700 stores, with Phase 1 negotiations already underway with independent groups representing roughly 700 stores.
Albert-Jan Santillana, President and CEO of the S. V. More Group of Companies
“…We are encouraged by the progress being made in the United States and other markets and are equally excited about the opportunity to bring Nasodine to the Philippines. By increasing our investment, we are strengthening a partnership that we believe has significant potential to grow as Firebrick expands the Nasodine portfolio and its presence internationally.”
The capital is directed at near-term commercial steps across the US and Singapore, alongside working capital.
For readers wanting the commercial detail behind the Singapore product, our detailed coverage of the Singapore throat spray launch explains the S$19.99 pricing, the six-month healthcare professional phase and the planned retail expansion.
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