(Alliance News) - Futura Medical PLC on Monday said the last patient in its first European phase 3 study has received a final dose of erectile dysfunction drug MED2005.
Shares in Futura were up 3.2% at 32.00 pence in afternoon trading in London.
The pharmaceutical company said it is "on track to deliver headline data by the end of 2019" and has already completed recruitment for a 12-month open-label extension study. The extension is required in order to determine the drug's long-term tolerability and safety, given that MED2005 will be given long-term for a non-life-threatening condition.
Future Chief Executive James Barder said: "We are extremely pleased to have achieved this important milestone and look forward to the phase 3 data read out, which is on track to deliver headline efficacy and safety data in December this year, a key value inflection point for the company.
"It is estimated that one in six men will experience some form of ED in their lives. We believe MED2005 will offer new hope to ED suffers, in an area that has seen little innovation for nearly two decades and has the potential to be a first line treatment option for ED."
By Anna Farley; annafarley@alliancenews.com
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Futura Medical (FUM)