Futura Medical
Guildford, United Kingdom

Futura Medical is a R&D-driven small pharma with a novel proprietary transdermal delivery system, DermaSys, and a lead programme, MED3000, in development for erectile dysfunction.

www.futuramedical.com

Investment Perspective

Futura Medical reported FY20 results in line with expectations, with net loss reduced from £8.9m to £2.4m. Net cash of £1.0m, coupled with £2.0m received in connection with the China and Far East MED3000 collaboration agreement and a £0.5m R&D tax credit, provides a cash runway that extends to Q122. The major events centre on MED3000’s progress along the respective regulatory paths in Europe and the US, with CE Marking expected by end-May. The FDA’s requirement is confirmed as a small study, FM71, involving 100 patients over six months. FY21 should see several commercialisation agreements established, notably in Latin America, Middle East, and Europe. Updating our model generates a valuation of £190.3m, equivalent to 76.6p (74.4p fully diluted) vs £181.5m and 73.1p (71.3p fully diluted) previously.

Market information

SymbolPrimary exchanges
FUMAIM London

Research

Raising £12m through £10m placing and £2m retail offer
Lighthouse | 17 May 2021
MED3000 receives CE Mark as a Class II(b) device
Lighthouse | 30 Apr 2021
FY21 is set to be a year of execution
Update | 14 Apr 2021

Recent News

First patient visit in MED3000 confirmatory study
15 Sep 2021
MED3000 collaboration for commercialisation in key Latin American markets
31 Aug 2021
MED3000 FDA regulatory and commercial update
19 Jul 2021
Result of placing and retail offer
17 May 2021