Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder talked with Proactive about the company’s 2024 financial performance, market expansion, and its product pipeline.
Futura Medical PLC reported a strong year in 2024, with CEO James Barder highlighting revenue of £14 million and a maiden profit of £1.3 million—or £3.3 million excluding non-cash items. Barder noted that Eroxon is now sold in over 15 countries and is expected to reach over 20 by the end of 2025. “2024 was a very good year for us,” he said.
Barder emphasised the company’s commitment to supporting commercial partners and building momentum behind its flagship product, Eroxon. He explained that markets seeing the most success were those effectively targeting men under 60 with mild to moderate erectile dysfunction—Eroxon’s most responsive user group.
The conversation also touched on upcoming products, including Eroxon Intense, a variant delivering a stronger sensory experience, and SD4000, a topical treatment for female sexual dysfunction. Barder noted that 87% of women in clinical trials for SD4000 wished to continue use post-study—an encouraging sign.
Looking ahead, Barder said the company will continue expanding its presence, drive forward its pipeline, and focus on areas it can control, despite share price frustrations.
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Proactive: James, very good to speak with you this morning. Could you start by giving us a high-level overview of full year 2024?
James Barder: Good morning to you, Stephen, as well. Yes, 2024 was a very good year for us. It highlights turnover of £14 million, which is a significant uplift from the previous year. We achieved a maiden profit of £1.3 million, or £3.3 million if you exclude non-cash payments such as share-based gains.
We're now selling in over 15 countries, and we expect that to grow to over 20 by the end of 2025. We have two different contract manufacturers—one in the US and one in Europe. We've made very significant progress on our pipeline, with two exciting products to add to Eroxon. These include Eroxon Intense, which is a variant with a stronger sensory signal, and a few more products in development. So overall, yes, we were very happy with the progress made in 2024.
Proactive: Well, clearly the belief in Eroxon remains the same from Futura and your partners?
James Barder: Yeah. I think any new OTC brand, especially in a new category and in an area that’s somewhat embarrassing, always takes time. All our commercial agreements have three-year commitments, but it does take time. There are learnings you get, and you need to build on that.
We've had considerable feedback on the launches and shared that with our partners. All commercial partners remain committed.
Proactive: There have been markets where Eroxon has had great success. Can you talk us through what makes it more successful in certain markets rather than others?
James Barder: It's a good question, but a complex area. A number of different things impact different markets—cultural views, and what you can or can’t say in marketing.
Our clinical data showed Eroxon was about 60–65% effective across all age groups and severities of erectile dysfunction. However, in the real-world setting, it's most effective in men aged 60 and younger with mild to moderate erectile dysfunction.
Targeting that group effectively is key. In markets where we can mount effective online media strategies, using social media and key opinion leaders, we see the best performance. There's a natural filter that helps us reach that younger group.
In other markets, even pharmacist or healthcare practitioner interaction helps manage consumer expectations, which also works well. In markets doing less well, we’re working closely with partners to share learnings and improve the offering.
Proactive: James, can you talk us through the two new products that you're currently developing?
James Barder: Yes. Eroxon Intense—our internal name—delivers a stronger sensory signal for men who want that. We completed two studies last year and expect approval in both Europe and the US by the end of 2025.
The second product, currently codenamed SD4000, is a topical treatment for women with symptoms of female sexual dysfunction. We ran two studies last year and had good meetings with the FDA. We think this may be a bigger market than erectile dysfunction because there’s no existing product available.
It will take a couple more years, likely completing development around 2027 into 2028. In our two clinical studies involving 80 women, 87% wanted to continue using the product after the study ended, which is very encouraging.
Proactive: And, James, your priorities for 2025?
James Barder: We’re already more than a quarter into the year. Our focus is to continue the momentum from 2024. We aim to launch or be present in at least 20 countries by the end of the year.
We're also continuing to support our commercial partners with feedback and insights, pushing forward with the Eroxon Intense approval, and progressing SD4000.
I would add that I, and the rest of the board, are frustrated with what’s happened to the share price recently. But we’re concentrating on what we can control, rather than what we can’t. Overall, 2024 was a great year, and we aim to build on it.