Big spike in sales growth for IMC’s Travelan® product
Australian microbiome biopharmaceutical company Immuron Limited (ASX:IMC; NASDQ: IMRN) has today informed the market of the impressive half year sales results for its over-the-counter gastrointestinal and digestive health supplement Travelan®.
The product saw strong sales growth throughout the first half of the 2018 financial year, both in the US and Australia, with the company reporting A$335,000 in sales in the US market — a 250 per cent increase on the same period last year — and A$579,000 in sales in the Australian market, a 27 per cent increase on the same period last year.
Of course, it should be noted that Immuron is still a speculative stock and anything can happen. Investors should seek professional financial advice if considering this stock for their portfolio.
IMC is a small-cap biotech focused on the treatment of several gut mediated diseases in the realm of oral immunotherapies. Its popular Travelan® product is already available for purchase, while the company’s other immunotherapies — one designed to treat C. Difficile infection and another to treat NASH disease — are still in developmental stages.
In commenting on today’s news, Immuron Marketing Manager David Montgomery said: “Key factors that have positively impacted the ongoing sales momentum include the continued focus on improving the execution of our trade marketing strategy in both the US and Australian markets.
“We are anticipating that the same sales trajectory will continue for Travelan® for the remainder of the 2018 financial year to target our aim of achieving in excess of A$2 million in annual sales for the first time.”
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