Firebrick Pharma (ASX:FRE) has executed a six-month extension to the consulting agreement with Keith Shortall aimed at driving Nasodine sales in Singapore over the next six months and pursuing partnership opportunities elsewhere in Asia.
The extension to the consulting Agreement commences 1 January 2025 and expires 30 June 2025, unless further extended by mutual agreement. During the Extended Term and in addition to his consulting fees, Mr Shortall will receive a grant of 1.5 million share options in the company.
The Options will vest upon achievement of both of the following performance milestones:
(a) Singapore sales reaching or exceeding the company’s unit sales budget for the six- month period from 1 January 2025 to 30 June 2025; and
(b) An agreement signed by 30 June 2025 with a partner in another Asian country to launch Nasodine in that country.
Firebrick Pharma is a pharmaceutical innovator developing and commercialising novel formulations and uses of povidone-iodine (PVP-I). The company has developed and is now commercialising Nasodine Nasal Spray (0.5% PVP-I) and has several other products in development. Firebrick recently introduced Nasodine in the United States and Singapore.
