Futura Medical PLC - Surrey-based pharmaceutical company - Pretax loss in six months to June 30 narrows to GBP1.4 million from GBP5.3 million, on no revenue, like in year prior. Chief Executive James Barder notes company is "in the late stages" of regulatory process to bring MED3000 to market to treat erectile dysfunction. Barder said: "Importantly, we have completed the audits and submissions for a European review of the product under the new Medical Device Regulations and are targeting an approval of MED3000 in 2021. A meeting has been arranged with the Food & Drug Administration before the end of October 2020, where we expect to agree the final outstanding data requirements to gain regulatory approval for MED3000 as an over-the-counter treatment in the USA."
Current stock price: 15.38 pence
Year-to-date change: up 11%
By Eric Cunha; ericcunha@alliancenews.com
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Futura Medical (FUM)