02 March
Preliminary Results for the year ended 31 December 2009
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce its preliminary results for the year ended 31 December 2009.
Highlights
- Significant progress across our product pipeline putting the Company on track to have two revenue generating products on the market in the foreseeable future
- CSD500 – Dossier submission expected later this month for CE mark approval, clearing the way for commercial launch
- PET500 – Successfully reformulated to be marketed on an OTC basis in the USA without further clinical or regulatory work subject to a commercial agreement being concluded
- TPR100 – Evaluation agreement signed in July 2009 with major pharmaceutical company, and agreement subsequently extended to end of June 2010 whilst commercial terms are being negotiated
- Reduced net loss of £1.39 million (2008: Net loss of £1.93 million)
- Increased cash resources of £1.79 million at 31 December 2009 (31 December 2008: £0.78 million), following successful equity fundraisings
James Barder, Futura’s Chief Executive, said: “We continue to make excellent progress across our product pipeline. CSD500 is moving ever closer to launch, and we share our commercial partner’s belief that it is destined to become a highly successful product. With an appropriate commercial agreement, PET500 could be launched in the USA in the foreseeable future giving Futura the potential to have two products in the market generating revenue. “
The full results are available to download in PDF format.
For further information please contact:
Futura Medical plc
James Barder, Chief Executive
Tel: +44 (0) 1483 685 670
james.barder@futuramedical.com
www.futuramedical.com
Nominated Adviser:
Nomura Code Securities Limited
Phil Walker / Giles Balleny
Tel: +44 (0) 20 7776 1200
For media enquiries please contact:
Buchanan Communications Limited
Mark Court / Stasa Filiplic / George Prassas
Tel: +44 (0) 20 7466 5000
Notes to Editors
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.