'Doing what it says on the tube', was the headline from a Panmure Liberum report in the wake of Futura Medical PLC (AIM:FUM, OTC:FAMDF)'s interim results.
In summary, the numbers represented a landmark for management and shareholders as they revealed the group, which has developed a fast-acting erectile dysfunction gel, had hit profitability ahead of schedule.
Not only that, Futura's management expects its performance for the year as a whole to be well ahead of current market forecasts.
"Futura has delivered a really strong set of interims," said Panmure-Liberum in a note to clients.
"All of the key numbers were ahead of expectations and this together with the earlier-than-expected US launch is triggering material upgrades to our forecasts as well as a reduction in forecast risk, with revenue now coming from multiple partners / territories."
Its partner in America, the UK-based healthcare giant Haleon, is expected to go live with Futura's ED product Eroxon as early as next month.
P-L reiterated its 'buy' call and 131p price target. In morning trading, the stock was treading water at 37.3p.