Management update details degree of 2021 progress
Lighthouse | 20 December 2021
Trinity Delta view: MED3000’s CE Mark effectively removed regulatory risk for the European markets (plus other geographies that recognise the CE Mark). In these regions the emphasis switches to commercial execution. Several agreements, notably addressing the important European markets, are expected to be struck in the coming six months. Manufacturing and capacity to meet projected demand should be in place to support first product launches during 2022. The US regulatory risks remain, albeit reduced as FM71 is nearing completion of patient enrolment (many study enrolments have been delayed by Covid related factors) and the successful completion of the HFS study. Our view remains that, whilst not without risks, Futura Medical’s share price does not reflect likely prospects. Our valuation is £264m, equivalent to 92p per share.
20 December 2021
Futura Medical is an R&D driven small pharma company, with a novel DermaSys transdermal delivery platform. The lead programme, a topically applied gel (MED3000), has been approved as an OTC product for ED (erectile dysfunction) in Europe, with final trials underway in the US.
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