Futura Medical PLC (AIM:FUM, OTC:FAMDF) is a buy with its broker Liberum, with important data expected in the second half of the year for its FM71 study.
The study is concerning the efficacy and safety of MED3000, a drug to target erectile disfunction, with its trial application currently ongoing with the US Food and Drug Administration.
According to the analysts, MED3000 “works much faster than existing therapies, has a better side-effect profile and can be sold over the counter.”
Already approved in the EU, a green-light in the US could enable a 90% upside in the share price, currently changing hands at 30.6p, said the broker.
Futura has already signed several licensing agreements elsewhere in the world for MED3000, although the market will be waiting for the progress updates on deals within the EU and eventually the US, according to the analysts.
Liberum has set a target price of 104p, up from 102.1p.
In its full-year results released earlier today, the company said it was fully funded to pursue more opportunities with £10.4mln in cash.