Futura Medical PLC (AIM:FUM, OTC:FAMDF)’s MED3000 erectile dysfunction gel is in a "strong position" to be approved by the US Food and Drug Administration.
That’s according to the company’s broker Liberum, which reckons the shares are worth 121p each – a 210% premium to the current share price.
“The search for US commercial partners has now commenced and interest is expected to be high if approved,” Liberum said in a note to clients.
“[The first half] H1 2023 is set to be a significant period of news flow for Futura Medical that offers investors opportunities for value inflexion with successful execution.”
On Monday, the company said it had submitted its regulatory dossier for MED3000, adding that it expects to receive FDA sign-off by the end of the first quarter of next year.
The fast-acting gel, which has none of the side effects of the traditional blue pills, has been developed to be America’s first over-the-counter treatment for ED.
The stock opened up slightly at 39.15p.