REG - Futura Medical PLC - AGM Statement

Futura MedicalAnnouncement

20/06/2024 07:00

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RNS Number : 1265T  Futura Medical PLC  20 June 2024

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               investor.relations@futuramedical.com

                          (mailto:Investor.relations@futuramedical.com)
                                 Chief Executive Officer

                          +44 (0)1483 685 670
                                 Angela Hildreth

                          www.futuramedical.com (http://www.futuramedical.com/)
                                 Finance Director and COO

 Liberum                         Richard Lindley            +44 (0)20 3100 2000

 Nominated Adviser               Nikhil Varghese

 and Broker

 Stifel Nicolaus Europe Limited  Alan Selby                 +44 (0)207 710 7600

 Joint Broker                    Ben Maddison

 Alma Strategic Communications   Rebecca Sanders-Hewett     +44 (0)20 3405 0205

                                 Sam Modlin                 futura@almastrategic.com

                                 Will Ellis Hancock

 

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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