Futura Medical has made good progress, especially across its sexual health products, and looks forward to the year ahead with confidence, shareholders at the annual general meeting today will be told.
Chairman John Clarke will say: "The development and commercialisation of our product pipeline continues apace and we have made good progress in the year to date especially across our sexual health products: MED2002 and CSD500.
"As announced at the end of last month, we have received constructive feedback from US and UK regulatory authorities on the clinical and regulatory pathway for MED2002, our topical gel for erectile dysfunction.
"As a result of this feedback we expect our Phase III programme of MED2002 to proceed as planned, with the first patient dosed in Q4 this year.
"We continue to receive significant commercial interest in MED2002 from potential licensing partners and negotiations are ongoing.
"On CSD500, our novel erectogenic condom, we are currently assisting all our EU licensing partners wherever required with their launch plans in a number of countries.
"In addition, we have in production two manufacturing orders from our licensing partner for the Middle East and North Africa, following its launch of CSD500 in Saudi Arabia earlier this year. "We continue in discussions on the out-licensing of our two pain relief products, TIB200 and TPR100, with potential licensing partners.
"We look forward to providing an update on these discussions, and on other corporate developments, in due course.
"Futura continues to benefit from a strong financial position and we look forward to the year ahead with confidence."
At 9:44am: (LON:FUM) Futura Medical PLC share price was +2p at 55.5p