News blog
Futura Medical
- BY: Andrew Hore |
- POSTED: 02/03/2010 |
Futura Medical says that it will submit the dossier for CE mark approval for CSD500 later this month.
The CSD500 condom helps men to maintain a firm erection. There were hopes that the CE mark could be gained in the first quarter of 2010. Once the CE mark is obtained it will clear the way for the launch of the product.
The PET500 treatment for enhanced sexual control has been reformulated so that it does not need further trials to be sold in the US.
This means that there could be two revenue generating products within the next year or so.
Futura hopes that it will have a licence agreement for its TPR100 topical pain relief treatment by the summer. The evaluation agreement with a major pharma company has been extended until June.
The cash outflow from operations has been reduced from £2.16m to £1.48m. During the year £2.46m was raised from share issues and cash in the bank was £1.79m at the end of 2009.
At 43.25p a share, up 2p on the day, Futura is worth £29.2m.
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