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’s H121 results provide a timely reminder of the progress achieved this year. MED3000 was approved in Europe, with the CE Mark granted in April 2021. Collaboration agreements are in place for China and the Far East, Brazil and Mexico, and the Gulf/Middle East. The US regulatory pathway has been established, with the confirmatory FM71 study now underway. The £12m equity raise in May removes a major uncertainty, providing a cash runway beyond expected US OTC approval (as early as Q123). The next major event should be announcement of the first European partner(s), followed by first MED3000 launch expected during H222. Updating our model to reflect this progress generates a Futura Medical valuation of £264m, equivalent to 92p per share.

Market information

SymbolPrimary exchanges
FUMAIM London

Research

A year of delivery, with key milestones achieved
Update | 30 Sep 2021
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

Recent News

Interim H121 results
29 Sep 2021
MED3000 collaboration for commercialisation in the Gulf and Middle East
27 Sep 2021
First patient visit in MED3000 confirmatory study
15 Sep 2021
MED3000 collaboration for commercialisation in key Latin American markets
31 Aug 2021