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20 Jun 2024 07:00
20 June 2024
Futura Medical plc
("Futura", "the Group" or the "Company")
AGM Statement
Futura Medical plc (AIM: FUM), the consumer healthcare company behind Eroxon®, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, will be holding its Annual General Meeting today at 10:00am. At the meeting, Jeff Needham, Non-Executive Chairman, will make the following statement:
"FY24 continues to progress well, as previously reported in the Group's full year results in April.
At the time of the results announcement, we stated that we expected full launches in at least ten countries including key European markets such as France, Italy and Spain during the first half of 2024. The Company can confirm that these launches have successfully taken place. The Company also confirms that revenues remain in line with market expectations for FY2024. We also expect further launches in the second half of FY24 in both Europe and Rest of World and therefore plan to give updated guidance on trading FY24 at the time of our Interim results in September.
We are working closely with the global consumer healthcare company, Haleon on the preparation for the US launch which continues to advance well. As a reminder, Haleon stated in February 2024 that they plan to launch Eroxon in the US in the next 12 months and this timetable was repeated by Haleon at their Q1 Trading Update in May.
The size of our target market along with the initial feedback we are receiving in the markets where we have launched gives us great confidence as we look to make Eroxon® available to more people across the globe and on the path towards profitability in the next 12 months."
Contacts:
Futura Medical plc
| James Barder Chief Executive Officer Angela Hildreth Finance Director and COO
| investor.relations@futuramedical.com +44 (0)1483 685 670 www.futuramedical.com
|
Liberum Nominated Adviser and Broker
| Richard Lindley Nikhil Varghese | +44 (0)20 3100 2000
|
| ||
Stifel Nicolaus Europe Limited Joint Broker
| Alan Selby Ben Maddison
| +44 (0)207 710 7600
|
| ||
Alma Strategic Communications | Rebecca Sanders-Hewett Sam Modlin Will Ellis Hancock | +44 (0)20 3405 0205 futura@almastrategic.com |
Notes to Editors:
Futura Medical plc (AIM: FUM) is the developer of innovative sexual health products, including lead product Eroxon. Our core strength lies in our research, development and commercialisation of topically delivered gel formulations in sexual health products.
Eroxon, Futura's clinically proven lead product, has been developed for the treatment of Erectile Dysfunction ("ED"). The highly differentiated product, which is the only topical gel treatment for ED available over the counter and helps men get an erection in ten minutes, addresses significant unmet needs in the ED market.
ED impacts 1 in 5 men globally across all adult age brackets, with approximately half of all men over 40 experiencing ED and 25% of all new diagnoses being in men under 40.
Futura has distribution partners in place in a number of major consumer markets including Haleon in the US, the largest market for ED in the world, and Cooper Consumer Health in Europe. Eroxon has been nominated for a number of healthcare industry awards and has won two to-date.
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