News blog
Futura Medical
- BY: Andrew Hore |
- POSTED: 23/09/2009 |
Erectile dysfunction and pain relief treatments developer Futura Medical expects to complete deals on two more products before the end of 2009.
The CSD500 condom that helps men to maintain a firm erection should gain its CE mark before the end of the year and the product should be in the shops in 2010. Durex has the rights to the product.
The two other products that should produce deals are the TPR100 topical pain relief and the PET500 treatment to extend the duration of sexual intercourse.
A major pharmaceutical company is evaluating TPR100 and this study should be complete by the end of 2009. This could lead to a deal for rights in certain territories.
Commercial discussions are continuing with healthcare companies interested in PET500. The formulation has been adapted to comply with an existing FDA approved formulation. That means it could be marketed without any more clinical trials.
Lower research and development spending and admin costs helped to reduce the interim loss from £1.07m to £706,000 in the six months to June 2009. There was no revenue in the period but since June Futura has received £50,000 upfront payment from the pharma company interested in TPR100.
There was £965,000 in the bank at the end of June 2009. There was a cash outflow of £736,000 during the first half of 2009.
If CSD500 is launched by Durex and gains 1% of the global market then Futura should receive royalties of £1.7m a year. That would be enough to cover the current cost base.
At 26.5p a share, Futura is valued at £16.6m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|