Futura Medical PLC (LON:FUM) saw its shares shoot higher on Monday after ‘house’ broker Liberum Capital highlighted an article published in ‘The Guardian’ newspaper which could spark interest in the group’s main product.
In a note to clients, the City broker’s analysts pointed out that over the weekend the newspaper published an in-depth piece on the emerging treatments for erectile dysfunction (ED) with a significant focus on the AIM-listed firm’s MED2005 which is in a P3 study due to read-out by the end of the year.
They said: “The article highlights the lack of clinical advances in ED over the past 20 years and the emerging opportunity for products that can address the shortcomings of the PDe-5 inhibitor class (Viagra) with MED2005 appearing to offer convenience and side-effect profile benefits.”
The analysts concluded: “This will help to drive interest in what appears to be a very over-looked product in terms of its potential to address a very large market.”
In afternoon trading, shares in Futura Medical were up 11.6% at 23.15p.