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Futura Medical targets profitability as erectile dysfunction gel gains commercial traction

Last updated: 07:31 14 Feb 2024 GMT, First published: 12:18 18 Mar 2021 GMT

Snapshot

  • Futura Medical ED treatment will be available on prescription from March 1
  • Futura Medical CEO James Barder discusses FDA approval, market share gains, and plans for Eroxon
  • Futura Medical shares jump 36% after trading update; bank says much further to go
  • Futura Medical marks pivotal year with first meaningful revenue from Eroxon sales
Futura Medical PLC -

About the company

Futura Medical PLC is a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® technology.

Each DermaSys® formulation is separately patented and specifically tailored for the selected indication and application, as well as being optimised for clinical efficacy, safety, administration and patient convenience.

The products are developed for the prescription and consumer healthcare markets as appropriate.

How it is doing

14 Feb 2024

Futura Medical PLC (AIM:FUM, OTC:FAMDF) said Eroxon, its fast-acting erectile dysfunction gel, will be available on prescription in England and Wales from March 1.

Eroxon, known for its clinically proven effectiveness in treating ED, initially launched in the UK in March 2023.

Available without a doctor's prescription, it has since garnered attention for its innovative approach to sexual health.

The prescription availability will expand the options for individuals seeking treatment, offering a new level of convenience and accessibility.

06 Feb 2024

Futura Medical PLC (AIM:FUM, OTC:FAMDF) said 2023 was a pivotal year in its commercial journey, marking the successful launch of Eroxon, an over-the-counter treatment for erectile dysfunction (ED), and the product's approval in the US.

Sign-off by the Food and Drug Administration (FDA) opens the world's largest market for ED treatments, while a strategic partnership with Haleon PLC (LSE:HLN, NYSE:HLN), the consumer healthcare giant behind Advil and Voltrarol, will allow Futura to fully exploit the opportunity.

15 Jan 2024

Liberum, the boutique investment bank, has reiterated its 'buy' recommendation and 131p a share price target for Futura Medical PLC (AIM:FUM, OTC:FAMDF) after the sexual health products specialist announced that it had extended its licensing deal with Cooper Consumer Health for an additional two years.

This extension allows Cooper exclusive rights to commercialise Eroxon, Futura's erectile dysfunction (ED) gel, in the European Economic Area (EEA), the United Kingdom and Switzerland until 2029.

Insight: Futura Medical CEO James Barder discusses FDA approval, market share gains,...

22 Sep 2023

In an exclusive with Proactive, James Barder, CEO of Futura Medical PLC (AIM:FUM, OTC:FAMDF), discusses the company's remarkable first half of the year, marked by FDA approval for its erectile dysfunction gel, Eroxon. Barder delves into the financial milestones, market share gains, and future expansion plans, painting an optimistic picture for the company's trajectory.

Thomas Warner (TW): Good morning, James Barder. Thank you for joining us today. Let's dive right in. Could you provide our readers with a summary of the first six months for Futura Medical?

What the brokers say

06 Feb 2024

Shares in Futura Medical PLC (AIM:FUM, OTC:FAMDF) were up 36% in the first hour of trade following its 2023 trading statement, which covered its commercial progress and breakthrough in the US market.

Largely historic, the update reminded investors that the group now has approval for its erectile dysfunction (ED) gel as an over-the-counter product in the States as well as a blue-chip partner in the form of Haleon PLC (LSE:HLN, NYSE:HLN).

Investment bank Liberum, in a note to clients, said: "Aside from a little timing difference that has already reversed out, Futura is progressing in line with expectations and today’s trading update is a timely reminder of how much progress the company has made and how little credit it has been given for this progress."

What management says

07 Feb 2024

Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder tells Proactive's Stephen Gunnion that 2023 was a pivotal year for the company as it rolled out its innovative sexual health product, Eroxon, designed to treat erectile dysfunction. The over-the-counter availability of Eroxon distinguishes it as a groundbreaking product globally, facilitating easier access for consumers without a prescription.

Barder noted the company reported significant achievements in 2023, including revenue of £3.1 million and a strategic expansion into the US market, bolstered by FDA approval and a partnership with leading OTC distributor Halen.

This expansion is underscored by successful launches in the UK and Belgium, capturing around a 20% market share. Barder highlighted Futura's virtual organizational model and risk-mitigated marketing strategy through partnerships focusing on advertising and promotional spend.

Futura Medical marks pivotal year with first meaningful revenue from Eroxon...

Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder tells Proactive's Stephen Gunnion that 2023 was a pivotal year for the company as it rolled out its innovative sexual health product, Eroxon, designed to treat erectile dysfunction. The over-the-counter availability of Eroxon distinguishes...

on 7/2/24