Futura Medical: Broker repeats 'buy' recommendation and 102p price target
Liberum was heartened by both the regulatory and commercial progress being made by the developer of erectile dysfunction gel MED3000.
Company
LON:FUM
Futura Medical specialises in the development and global commercialisation of innovative sexual health products, including lead product Eroxon®. The company's core strength lies in its research, development and commercialisation of topically delivered gel formulations in sexual health products.
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Liberum was heartened by both the regulatory and commercial progress being made by the developer of erectile dysfunction gel MED3000.
The company delivered a comprehensive update on its progress
Jeff Needham was at Perrigo, the US-based manufacturer and marketer of consumer healthcare products, for 36 years
The results for the six months revealed the company was sitting on £12.76mln as at June 30
It has teamed up with a Swiss company called Labatec Pharma, which will oversee the regulatory sign-off of the product in the Gulf Co-operation Council region as well as Jordan, Lebanon and Iraq
It has hosted the first patient visit as part of the company's FM71 confirmatory study
“Futura is talking to many more potential partners as it works to build the global commercialisation landscape, and we expect more licensing agreements to be signed in the coming months,” said Liberum in a note to clients
It has partnered with the speciality pharma group, m8 Pharmaceuticals
It has been given sign-off for a simple human factors study by the Food & Drug Administration
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Chairman John Clarke will tell the firm's AGM: “The team is laser-focused on preparation and execution of the confirmatory clinical study and the non-clinical study to finalise an OTC [over-the-counter] label for the regulatory submission f
MED3000 is Futura's topical gel formulation that is a breakthrough treatment for erectile dysfunction through a unique evaporative mode of action
"Approval removes the last hurdle to signing meaningful commercial agreements"
Futura's fast-acting topical gel formulation MED3000 is the first clinically proven, pan-European topical treatment for adult men with erectile dysfunction available over the counter
The erectile dysfunction gel will be commercialised in Europe this year after the pharma company navigated unexpected twists and turns along the way
The pharma company is eyeing a global rollout after receiving the CE mark in Europe
The main purpose of the trial is to ensure that the efficacy of the erectile dysfunction gel does not wear off after more than three months of use.
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