Melbourne-based biopharmaceutical firm Immuron Ltd (NASDAQ:IMRN, ASX:IMC) is trading higher on revealing record monthly sales of its over-the-counter gastrointestinal supplement Travelan®.
For August, the company registered Australian sales amounting to A$1.18 million, representing a staggering 7,984% increase compared to A$14,581 in August 2022.
The monumental sales boost partially mirrors the clearance of a three-month backlog of orders, which had accumulated during a period awaiting Good Manufacturing Practice (GMP) clearance from the TGA.
Moving forward, Immuron anticipates continued demand for replenishment of Travelan as retail pharmacies sell to consumers.
Shares have been as high as A$0.091 intraday, up 22.97% on the previous ASX close.
About Travelan
Travelan is an orally administered passive immunotherapy that prophylactically reduces the likelihood of contracting travellers’ diarrhea, a digestive tract disorder commonly caused by pathogenic bacteria and the toxins they produce.
As travel is reaching pre-pandemic levels, continued strong demand is expected as retailers work to replenish their inventories.
The Australian Bureau of Statistics highlighted that short-term resident returns in July 2023 were 48% higher than the previous year.
Indonesia was the most popular destination country, making up 14% of all returns.
Amazon (NASDAQ:AMZN) launch
Immuron also noted the success of its Amazon launch in the United States.
Sales via Amazon in August surpassed those made to the company’s largest business-to-business (B2B) customer, Passport Health.
As the low travel season approaches in the United States, Immuron anticipates a significant uptick in sales closer to the peak travel months of spring and summer.