Interim Results for the six months ended 30 June 2014
11 September 2014
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, is pleased to announce its interim results for the six months ended 30 June 2014.
- Significant evolution in Futura's strategy following a £12 million fundraising in March 2014 allowing the Company to build further value in its product pipeline prior to out-licensing through robust clinical data and regulatory work
- CSD500 - Condom containing an erectogenic gel. Major commercial progress with initial launch anticipated later this year under the Futura-owned brand Blue Diamond™
- MED2002 - Topical treatment for erectile dysfunction. Protocol for a Phase II/III clinical study nearing finalisation and planning under way to launch the product initially as a special product in 2015
- PET500 - Topical spray for enhanced performance. Early stage of commercial availability throughout the USA under the Ansell brand EPIC®
- Pain Relief Portfolio - Clinical trial to begin shortly with headline results expected in H1 2015
- Net loss of £1.45 million in the period (H1 2013: net loss £0.88 million)
- Cash resources of £11.21 million at 30 June 2014 (30 June 2013: £2.12 million) to fund Futura through key value inflexion points across its product portfolio and to support out-licensing discussions
James Barder, Futura's Chief Executive, said: "We have made significant progress in the year to date and are close to starting clinical trials with the pain relief portfolio and MED2002. We are also preparing for the initial launch next year of MED2002 as a special product. CSD500 will be launched under the Futura brand Blue Diamond™ in several European countries later this year with an expected wider roll-out of the product during 2015.
"The successful equity fundraising earlier this year will support the clinical development of Futura's earlier-stage product portfolio through to key value inflexion points, thereby creating major opportunities to deliver shareholder value."
The full results are available to download in PDF format.
For further information please contact:
Aubrey Powell / Liz Yong / Thomas Smale
Tel: +44 (0) 20 7496 3000
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Notes to Editors
Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.