Futura Medical due $5m milestone payment from Haleon
Futura Medical
33.50p
16:30 07/10/24
2.92%
0.95p
Futura Medical, the consumer healthcare company behind Eroxon, announced on Monday that a $5m milestone payment had been triggered under its agreement with consumer products giant Haleon.
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The AIM-traded firm said the milestone followed the successful distribution of online pre-orders and the availability of Eroxon in US retail stores.
It said the payment was expected to be received shortly.
Eroxon, Futura’s flagship product, is a clinically-proven sexual health product.
The milestone payment was another key step in its ongoing strategy to commercialise its products globally, with the US launch being a major milestone in the product’s growth.
At 1356 BST, shares in Futura Medical were up 2.77% at 33.45p.
Reporting by Josh White for Sharecast.com.