Futura has 'transformational year' in 2023
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Futura Medical
33.50p
16:34 26/07/24
Consumer healthcare company Futura said on Tuesday that 2023 had been a "transformational year", with the group generating its first meaningful revenues and laying the foundations for "significant growth acceleration".
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16:25 26/07/24
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16:45 26/07/24
Futura stated it had successfully executed its initial market launches of Eroxon, an over-the-counter topical treatment for erectile dysfunction, and noted that the first meaningful revenues had been generated from product sales, with the broader success of the UK launch being a catalyst for "significant strategic progress" across multiple markets.
The AIM-listed group also pointed out that it now has approval for its erectile dysfunction gel in the US, as well as a blue-chip partner in the form of Haleon.
In a note to clients, analysts at Liberum said: "Aside from a little timing difference that has already reversed out, Futura is progressing in line with expectations and today's trading update is a timely reminder of how much progress the company has made and how little credit it has been given for this progress."
As of 1005 GMT, Futura shares had surged 37.18% to 38.0p.
Reporting by Iain Gilbert at Sharecast.com