LONDON (Alliance News) - Futura Medical PLC Tuesday said that is has "clear potential for value generation this year and beyond" as it continues to progress its pipeline of products.
In a statement ahead of the company's annual general meeting Futura said it continues to prepare for the launch of its new condom product CSD500 by its distribution partners.
It has inked a new manufacturing agreement in India with TTK Group for the product, to be launched under TTK's SKORE brand, and with Milsing DOO for the distribution of CSD500 in seven countries in Southeast Europe.
Additionally, Futura is in talks with regulatory authorities for both Indian and European manufacturing sites. It believes that regulatory approvals for CSD500 will be based on a shelf life of at least 18 months, and production is underway for an expected launching in the second half of 2016 in certain Middle East and North African territories.
Elsewhere, it has seen "significant interest" in its topical pain relief gels following positive clinical trial data, and it expects to announce headline results for its study of its gel for the treatment of erectile dysfunction during September.
"With potential newsflow from all of our pipeline projects during the remainder of the financial year, we believe that there is clear potential for value generation this year and beyond," said Chairman John Clarke in a statement.
Futura shares were up 8.0% to 22.94 pence early Tuesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Futura Medical (FUM)