Preliminary Results for the year ended 31 December 2015
15 March 2016
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 2015.
CSD500 (erectogenic condom)
- Modified manufacturing process achieves extended shelf life with continuing positive real-time data and regulatory submission made
- Commercial order received from a licensee partner signalling an H2 2016 launch
- Progress with own brand Blue Diamond® product via online and retail channels in the Netherlands and Belgium, providing customer insight and safety data to Futura and its licensee partners
Pain relief products TPR100 (diclofenac) and TIB200 (ibuprofen)
- Achieved primary endpoints in clinical study showing potential to be best-in-class based on improved drug delivery
- Received confirmation from relevant EU regulator that in principle no further clinical efficacy studies are expected to be required for TPR100 or TIB200 prior to the submission of regulatory dossiers in Europe, expected by the end of 2016
- Considerable interest in the two products from potential commercial partners and, subsequent to the year end, appointed advisers to manage the out-licensing process
MED2002 (treatment for erectile dysfunction)
- Pivotal efficacy study under way expected to report headline results by the end of H1 2016
- Made available as a 'special' or unlicensed medicine in the UK until it gains marketing authorisation
- Strengthened the R&D department by establishing two separate teams, one focusing on clinical development and the other on chemistry, manufacturing and controls
- Net loss of £5.08 million (2014: net loss of £3.00 million), reflecting two clinical studies undertaken in 2015 (2014: Nil)
- Cash resources of £4.19 million at 31 December 2015 (31 December 2014: £9.49 million);
- plus tax credit receivable of £1.00 million at 31 December 2015 (31 December 2014: £0.48 million)
James Barder, Futura's Chief Executive, commented: "2015 was a period of intense clinical activity for Futura, following which we expect our R&D expenditure to be significantly lower in the current year when there will be more of a focus on commercial development. We have made important progress with the shelf life extension of our novel condom CSD500 and we look forward to the start of licensee launches in 2016 and beyond. Futura has also made significant advances in its clinical programmes in erectile dysfunction and pain relief. In 2016 we expect to build on that progress and look forward to providing further updates during the course of the year across the wider portfolio."
The full results are available to download in PDF format.
Analyst meeting and webcast
A meeting for analysts will be held at 10.00am this morning, 15 March 2016, 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 / 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.