Interim Results for the six months ended 30 June 2016
13 September 2016
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 2016.
- MED2002 Eroxon® (treatment for erectile dysfunction) - pivotal efficacy study completed with breakthrough results in US$5 billion market
- MED2002 Eroxon® - peak estimated annual sales potential in excess of US$500 million
- CSD500 (erectogenic condom) - commercial order manufactured for licensee partner ready for Q4 2016 launch
- CSD500 - two new licensing agreements signed, manufacturing agreement signed for second facility with regulatory approval expected shortly
- Pain relief products TPR100 (diclofenac) and TIB200 (ibuprofen) - strong commercial interest for both products with discussions at advanced stage
- Net loss of £1.89 million in the period (H1 2015: net loss £2.47 million), reflecting planned reduction in R&D expenditure
- Cash resources of £2.90 million at 30 June 2016 (30 June 2015: £7.23 million)
James Barder, Futura's Chief Executive, commented: "We continue to make good progress in the clinical and commercial development of our portfolio of product opportunities. This was highlighted last week with the announcement of positive clinical study results for MED2002. We are increasingly excited about MED2002's commercial potential as well as the first partner launch of CSD500 later in the year and the first pain relief out-licensing deal."
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, 13 September 2016, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. There will be a live webcast of the analyst presentation. To listen to the webcast, please log on to the following web address approximately 5 minutes before 10.00am: http://vm.buchanan.uk.com/2016/futuramedical130916/registration.htm
For further information please contact:
Aubrey Powell / Liz Yong / Thomas Smale
Tel: +44 (0) 20 7496 3000
For media enquiries please contact:
Buchanan Communications Limited
Mark Court / Sophie Cowles /
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.