Immuron Says Sales Of Travelan Increased To A$1.34M In Q1 FY24, Compared To A$25.5K In Q1 FY23, Partially Reflecting Three Months (May, June, July) Of Backorders Accrued While Awaiting GMP Clearance From Australia Therapeutic Goods Administration
Portfolio Pulse from Benzinga Newsdesk
Immuron reported that its Q1 FY24 sales of Travelan increased to A$1.34M, compared to A$25.5K in Q1 FY23. This increase partially reflects three months of backorders accrued while awaiting GMP clearance from Australia Therapeutic Goods Administration.
October 11, 2023 | 10:05 am
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POSITIVE IMPACT
Immuron's significant increase in Q1 FY24 sales of Travelan, partially due to backorders, indicates a strong demand for the product. This could positively impact the company's stock in the short term.
The significant increase in sales of Travelan from Q1 FY23 to Q1 FY24, partially due to backorders, indicates a strong demand for the product. This could lead to increased investor confidence in the company, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100