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:
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Futura Medical plc
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James Barder
Chief Executive Officer
Angela Hildreth
Finance Director and COO
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investor.relations@futuramedical.com
+44 (0)1483 685 670
www.futuramedical.com
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Liberum
Nominated Adviser
and Broker
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Richard Lindley
Nikhil Varghese
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+44 (0)20 3100 2000
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Stifel Nicolaus Europe Limited
Joint Broker
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Alan Selby
Ben Maddison
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+44 (0)207 710 7600
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Alma
Strategic Communications
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Rebecca Sanders-Hewett
Sam Modlin
Will Ellis Hancock
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+44 (0)20 3405 0205
futura@almastrategic.com
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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.