Fund raise of £2.25m, at 8p a share, confirmed at EGM
Lighthouse | 21 January 2020
Trinity Delta view: The fund raise extends Futura Medical’s cash runway, on current plans, through to end-2020. We suspended our forecasts and valuation when the FM57 study results were announced. As we said at the time, these remarkable results have created understandable uncertainty and until we have greater visibility that is the prudent action to take. There are clear opportunities for DermaSys being approved as a treatment for ED, including the extended patent life and wider market opportunities; however, there are potential unknowns that remain. The planned meeting with the FDA will shed further light on the next steps. We intend to reinstate our forecasts as soon as practicable.
21 January 2020
Futura Medical is an R&D driven small pharma company, with a novel DermaSys transdermal delivery platform. The lead programme, a topically applied gel, is being developed for erectile dysfunction (ED). A pain relief gel, TPR100, is awaiting UK approval.
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