Preliminary Results for the year ended 31 December 2014
25 March 2015
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, is pleased to announce its preliminary results for the year ended 31 December 2014.
£12 million fundraising in March 2014 allows Futura to focus on building value in its product pipeline prior to out-licensing
- CSD500 (condom containing an erectogenic gel) - launched online under Futura's own brand Blue Diamond® in the Netherlands and Belgium; progress towards wider roll-out continues
- MED2002 (topical treatment for erectile dysfunction) - first patient to be dosed in clinical trial programme by the end of Q2 and launch as a special product in the UK expected in H2 2015
- Pain Relief Portfolio - clinical trial programme under way
- Net loss of £3.00 million (2013: net loss of £2.21 million) with net cash inflow in year of £8.50 million (2013: net cash outflow of £1.83 million)
- Cash resources of £9.49 million at 31 December 2014 (31 December 2013: £0.99 million); tax credit receivable £0.48 million at 31 December 2014 (31 December 2013: £0.31 million)
James Barder, Futura's Chief Executive, commented: "2015 is set to be a year of significant news flow at Futura, with key value inflection points expected across the Company's product portfolio. In the near term, we expect commencement of two pivotal clinical trial programmes and we also expect to complete our work on the potential for extending the shelf life of our novel condom CSD500. We also continue in discussions on further out-licensing agreements. This high level of activity has been facilitated by our significant equity fundraising in 2014. We enter 2015 with a strong balance sheet, a number of projects under way and with a determination to generate value for our shareholders."
The full results are available to download in PDF format.
Analyst meeting and webcast
A meeting for analysts will be held at 10am this morning, 25 March 2015, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. There will be a live webcast of the analyst presentation. If you would like to listen to the webcast, please log on to the following web address approximately 5 minutes before 10.00am:
For further information please contact:
Aubrey Powell / Liz Yong
Tel: +44 (0) 20 7496 3000
For media enquiries please contact:
Mark Court / Sophie Wills /
Stephanie Watson / Tilly Abraham
Tel: +44 (0) 20 7466 5000
Notes to editors:
About 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.