Futura Medical PLC (AIM:FUM, OTC:FAMDF, FRA:GYX), the consumer healthcare company behind erectile dysfunction gel Eroxon, said it has refined its strategy and is evolving its commercial model following a comprehensive strategic review.
In its full-year results statement, the told investors it is moving from a pure out-licensing structure toward a hybrid model combining research and development with direct commercial activity.
The refined strategy sharpens focus on men under 60 with mild to moderate erectile dysfunction, following home user testing that gave management confidence in the repositioning.
Two development projects, Eroxon Intense and the WSD4000 female sexual health platform, are being progressed, with early feasibility study results for WSD4000 showing clear and positive trends in symptom improvement for women.
Futura also secured patents in both the US and China for Eroxon until 2040, reinforcing its intellectual property position.
Constructive negotiations are underway with Haleon, the consumer health giant, over a milestone payment linked to the US patent grant.
Futura says it believes the conditions for the payment have been satisfied, but warns there can be no certainty over timing.
Without the milestone, existing cash resources are expected to provide runway only into June 2026, against a December 2026 horizon if the payment is received.
The board is actively considering dilutive and non-dilutive funding options to extend its runway should the Haleon payment be delayed.
Full-year revenue for 2025 came in at £1.7 million, against £13.9 million a year earlier. The operating loss was £9.1 million, while it had £2.35 million in cash.