Interim Results for the six months ended 30 June 2017
12 September 2017
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 2017.
MED2002: Eroxon® - Treatment for erectile dysfunction (“ED”)
- Key meetings with US and UK regulators in H1 2017 on the further clinical development of MED2002 following breakthrough clinical results in H2 2016
- Pharmacokinetic study to begin in Q4 2017 with the results informing a large-scale Phase III study to begin in H1 2018
- Out-licensing discussions are ongoing
CSD500: Erectogenic condom
- Successful product launch in the Middle East
- Regulatory approval of additional brand names and packaging, enabling launch in several EU countries
- Strategic consideration currently being given to commercialisation options for the countries covered by the Church & Dwight agreement, notice of termination of which was received in August 2017
Pain relief products TPR100 (diclofenac) and TIB200 (ibuprofen)
- First out-licensing agreement signed in January 2017 for TPR100 in the UK
- UK regulatory submission for TPR100 targeted for Q1 2018
- Ongoing out-licensing discussions for TIB200 and TPR100 outside of the UK
- Net loss of £1.60 million in the period (H1 2016: net loss £1.89 million), reflecting planned reduction in R&D expenditure in preparation for MED clinical programme commencing in H2 2017
- Cash resources of £10.12 million at 30 June 2017 (30 June 2016: £2.90 million)
James Barder, Futura's Chief Executive, commented: “Futura made excellent progress in the first half of 2017 with MED2002, our breakthrough erectile dysfunction gel, which is moving close to its Phase III programme. This exciting programme brings the potential for significant prescription sales and the prospect of an OTC switch in the future. We are currently in commercial discussions with potential licensing partners for MED2002 and we look forward to announcing a licensing agreement in due course. Our novel erectogenic condom, CSD500, has now been launched by our first distributor and we anticipate further launches in the months ahead.”
The full results are available to download in PDF format.
A meeting for analysts will be held at 11.00am this morning, 12 September 2017, 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 11.00am:
A recording of the webcast will be made available at www.futuramedical.com following the results meeting.
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.