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LONDON (Alliance News) - Healthcare company Futura Medical PLC on Wednesday reported a widened pretax loss for its first half of 2015 as it continued to develop its product pipeline.
For the half year to end-June Futura reported a pretax loss of GBP3.0 million, widened from a pretax loss of GBP1.6 million a year before, mostly as a result of higher research and development costs. Revenue remained insubstantial but rose to GBP16,141 from GBP2,262 a year before.
During the half year the company continued to advance its clinical programmes and prepare for the international roll-out of its CSD500 condom. It has been working to optimise the manufacture of CSD500 to extend the product's shelf life, and is bringing a second manufacturing facility for the product on stream.
It expects to make a regulatory filing for its optimised version of CSD500 later in 2015.
Elsewhere, Futura completed a study of its pain relief portfolio, and began a study of its erectile dysfunction treatment MED2002. It expects results for the MED2002 study in the first half of 2016.
"Significant progress is being made across our product portfolio. On the manufacturing optimisation of CSD500 we have growing confidence of making a regulatory filing later this year of an extended shelf life product that meets our commercial partners' requirements," said Chief Executive James Barder in a statement.
Shares in Futura were down 4.8% at 30.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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