Futura has 'transformational year' in 2023

6th Feb 2024 10:08

(Sharecast News) - Consumer healthcare company Futura said on Tuesday that 2023 had been a "transformational year", with the group generating its first meaningful revenues and laying the foundations for "significant growth acceleration".

Futura stated it had successfully executed its initial market launches of Eroxon, an over-the-counter topical treatment for erectile dysfunction, and noted that the first meaningful revenues had been generated from product sales, with the broader success of the UK launch being a catalyst for "significant strategic progress" across multiple markets.

The AIM-listed group also pointed out that it now has approval for its erectile dysfunction gel in the US, as well as a blue-chip partner in the form of Haleon.

In a note to clients, analysts at Liberum said: "Aside from a little timing difference that has already reversed out, Futura is progressing in line with expectations and today's trading update is a timely reminder of how much progress the company has made and how little credit it has been given for this progress."

As of 1005 GMT, Futura shares had surged 37.18% to 38.0p.

Reporting by Iain Gilbert at Sharecast.com