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, MED2005, in Phase III development for erectile dysfunction.

www.futuramedical.com

Investment Perspective

Futura Medical is rapidly approaching a major inflection point as the results of a pivotal Phase III study (FM57) for its lead compound, MED2005, are due to read out in December. MED2005 is a fast-acting glyceryl trinitrate gel that addresses erectile dysfunction (ED). The FM57 data is expected to be positive and will influence the design of the remaining Phase III trial (FM59) required for US approval (and possibly Europe too). This data will also fuel licensing discussions with potential partners. The commercial opportunity in ED is sizeable, although addressing the various elements of the market segments and different geographies optimally will, in our view, be critical. Our DCF-based model employs conservative assumptions and currently values Futura Medical at £127m, equivalent to 62p a share.

Market information

SymbolPrimary exchanges
FUMAIM London

Research

Elegant and effective treatment for Erectile Dysfunction
Initiation | 25 Nov 2019

Recent News

Publishes Fireside Chat with Prof Wayne Hellstrom
14 Nov 2019
MED2005 safety and efficacy data at SMSNA
28 Oct 2019
Final dosing of last patient in MED2005 Phase III study
21 Oct 2019
Interim H119 results
11 Sep 2019