Futura Medical sees 'good progress' despite regulatory delays

Pharmaceutical company Futura Medical told investors at its annual general meeting on Monday that it had continued to make "good progress" in developing and commercialising its pipeline of product opportunities despite regulatory delays to the advancement of its pain relief gel.

Futura's novel topical pain relief gel TPR100 saw the UK Medicines and Healthcare products Regulatory Agency raise a number of questions requiring additional lab work to be conducted but has also received expressions of interest from a number of parties requesting the group expand its geographical reach.

Elsewhere, the AIM-listed group said it remained "on track" to deliver headline data from its first European Phase 3 study on MED2005, a topical gel for erectile dysfunction, by the end of 2019 - with planning for a second, confirmatory Phase 3 study already underway.

The second study will incorporate a US patient cohort, which Futura expects to facilitate regulatory filing in the US, and will be informed by the receipt and analysis of the first Phase 3 data.

Chairman John Clarke said: "We continue to make good progress in the development and commercialisation of our pipeline of product opportunities.

"We look forward to updating the market on Futura's developments during 2019, which I expect to be a year of very significant progress for the company."

As of 0925 BST, Futura shares had dipped 6.15% to 30.50p.