The commercialisation strategy of Immuron Ltd (NASDAQ:IMRN, ASX:IMC) has borne abundant fruit in the 2024 financial year, garnering global sales income of A$4.9 million over the year, a 174% increase compared to the prior comparative period (PCP).
The company’s core offering is the orally administered passive immunotherapy which reduces the likelihood of contracting travellers’ diarrhea (TD).
TD is the most common and predictable travel-related illness, effecting anywhere between 20-70% of travellers in any two-week period, depending on destination and season of travel.
In the June quarter alone, IMC generated A$1.3 million in Travelan® sales, up 253% on the PCP and 6% on last quarter’s sales.
Targeting North American expansion
“We continue to be excited by the strong sales results on Travelan®,” chief commercial officer Flavio Palumbo said.
“Immuron’s investment to drive awareness of the Travelan® brand has seen continued strong sales results in Australia. We were incredibly pleased to achieve record US sales in FY24.
“We hope to achieve strong North American growth in FY25 on the back of planned increased brand investment and distribution.”
Growth in Australia was particularly strong this financial year with sales of A$3.7 million representing an increase of 223% compared to PCP during the year and A$1 million in the quarter, a 200% gain to PCP and 11% compared to last quarter.
Sales in the US hit a new annual record, a 74% increase over the year compared to last, capturing A$1.1 million in sales.
The June quarter saw $300,000 in with a 546% increase compared to the same quarter last year, but a 1% fall compared to the March quarter.
This financial year was only the second IMC has been operating in Canada. The company secured A$100,000 in revenue, which while modest represents a 6,637% increase compared to the previous financial year, offering a robust sales ramp to continue growth next year.