Firebrick Pharma (ASX:FRE) said Tuesday that the results of the first phase 3 clinical trial of its Nasodine nasal spray support the product's efficacy as a potential treatment for the common cold, especially when used early in the illness.

Based on the results, Nasodine 0.5% povidone-iodine nasal spray effectively reduced cold severity, improving quality of life scores, and delivered a 40% greater benefit than saline when used within 24 hours of symptom onset, according to a Tuesday filing with the Australian bourse.

Results, which were published in a peer-reviewed journal, also showed Nasodine to be safe and well-tolerated.

The randomized, double-blind study was conducted on 260 adults who received either Nasodine or a matching saline nasal spray.