Preliminary Results for the year ended 31 December 2017
14 March 2018
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 2017.
Development and Commercial Highlights:
MED2002: Eroxon® - Treatment for erectile dysfunction ("ED")
- Key meetings held and positive feedback received from US & European regulators on the two phase III trials planned in our clinical development programme
- Interim pharmacokinetic data indicates that at least two higher strength doses of MED2002 are eligible for the planned Phase III clinical studies compared with the dose used in the successful Phase II study
- Commercial out-licensing discussions at an advanced stage
CSD500: Erectogenic condom
- Successful product launch in Saudi Arabia with further order placed and in production
- Further launches in 2018 underway
TPR100 (diclofenac) and TIB200 (ibuprofen): Pain relief products
- First out-licensing agreement signed for TPR100
- Commercial out-licensing discussions continuing for other countries
Organisational and Financial Highlights:
- Appointment of Angela Hildreth as Finance Director and Chief Operating Officer
- Net loss of £3.90 million (2016: Net loss of £3.70 million), reflecting planned increase in R&D expenditure on the MED2002 clinical programme
- Cash resources of £8.36 million at 31 December 2017 (31 December 2016: £12.35 million)
James Barder, Futura's Chief Executive, commented: "2018 has started well particularly with the progress of our Phase III clinical programme for MED2002, our breakthrough erectile dysfunction gel. The positive interim data announced yesterday from our pharmacokinetic study indicates that we will be able to include at least two higher strength doses of MED2002 in our Phase III clinical studies along with the dose used in our earlier Phase II study thereby offering the potential for improved efficacy. Commercial discussions, especially with MED2002, are advancing well and further CSD500 launches are underway."
The full results are available to download in PDF format.
Analyst meeting and webcast
A meeting for analysts will be held at 11.00am this morning, 14 March 2018, 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 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.