Futura Medical Preliminary Results for the Year Ended 31 December 2010
A meeting for analysts will be held at 10.00 am this morning, 11 March 2011, at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE Highlights
- CSD500 – CE mark approval expected shortly
- PET500 – Worldwide agreement signed with Ansell in February 2011
- TPR100 – Development agreement signed with GlaxoSmithKline in June 2010
- TPR100-Rx – New prescription pain relief product opportunity identified
- Further in-house product opportunities under evaluation
- Reduced net loss of £1.09 million (2009: Net loss of £1.39 million)
- Cash resources of £0.82 million at 31 December 2010 (31 December 2009: £1.79 million), tax credit receivable £0.15 million at 31 December 2010 (31 December 2009: £0.12 million)
- £3.20 million (£3.07 million net of expenses) fundraising by way of a placing of 4,737,402 new ordinary shares at 67.50 pence per share announced today – see separate release
James Barder, Futura’s Chief Executive, said: “As highlighted, 2010 saw great progress and the current year has started extremely well. We have signed a commercial deal with Ansell for PET500 and remain confident of receiving the CE mark for CSD500 in the near future. Both of these products are due to launch in the foreseeable future, with the potential of transforming Futura into a revenue generating company with significant royalty income.”
The full results are available on the Company’s website at www.futuramedical.com.
For any further information please contact:
Futura Medical plc James Barder, Chief Executive Tel: +44 (0) 1483 685 670
mail to: james.barder@futuramedical.com www.futuramedical.com
Nomura Code Securities Limited Phil Walker / Giles Balleny Tel:+44 (0)20 7776 1200
For media enquiries please contact:
Buchanan Communications Mark Court / Jessica Fontaine Tel: +44 (0) 20 7466 5000