13th May 2014 12:38
LONDON (Alliance News) - Futura Medical PLC expressed confidence for its future, saying that by the end of 2014 two of its products are set to generate recurring revenues, in a statement ahead of its annual general meeting Tuesday.
The biotechnology company said it is focused on driving product launches during 2014 and 2015. It is progressing launch plans for its new condom, CSD500, which it hopes to launch by the end of the third quarter.
It expects this to be followed by launches in other countries during the remainder of 2014 and into 2015, including Europe, the Middle East and North Africa.
The company has recently submitted an application to refine the manufacturing process of the product, which it said if successful would extend its shelf life and reduce the cost of goods.
Futura said that recent fund-raising has allowed it to accelerate the development of its pain relief portfolio, and its treatment for erectile dysfunction MED2002. It expects to have clinical studies to start for these programmes before the end of 2014.
Shares in Futura were trading down 4.4% at 60.25 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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