Futura Medical: On the cusp of MED3000 commercialisation
During 2022 Futura Medical successfully delivered on several key MED3000 related events, including the highly positive FM71 longer-term clinical data, which are needed to enter the US market and importantly reinforced MED3000’s differentiated and rapid onset of action. In addition, a number of commercial deals were executed, notably the European and UK deal with Cooper Consumer Health. The next steps are EU launches (due to start during H123), FDA marketing clearance (potentially by end Q123), and securing a US partner. These should be the final elements in converting MED3000 into a revenue generating OTC product for ED, transforming Futura Medical’s prospects. Pending visibility on both US and European launches, our updated model conservatively does not include any near-term MED3000 related revenues. Our Futura Medical valuation is now £270m, equivalent to 94p per share.Futura Medical is engaged in the research and development of pharmaceutical drugs and medical devices and their commercial exploitation. Co. focuses on developing products primarily for the consumer healthcare market. Co.'s focus is on sexual healthcare and pain relief. DermaSys® is Co.'s transdermal technology platform, for the absorption of active molecules through the skin. DermaSys® includes MED2002, a topical gel for the treatment of erectile dysfunction; TPR100, a topical diclofenac pain relief gel; TIB200, a topical ibuprofen pain relief gel; and SPR300, a topical methyl salicylate pain relief gel.
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