The phase III clinical trial of Futura Medical PLC's (LONFUM) fast-onset gel for erectile dysfunction is on track for first patient dosing in September, chairman John Clarke confirmed ahead of the company's annual meeting later.
He added that the completion of a significant out-licensing agreement for MED2002 "remains a top priority" as he investors were told: "Whilst negotiations proceed, we will continue to maintain the momentum in the product's development."
In an update on progress, Clarke said preparations for the launch of its CSD500 condom in new territories were underway after it received regulatory sign-off in Kuwait and with the product now on sale in Saudi Arabia.
On TPR100, Futura's diclofenac gel for pain relief, the chairman said the company was waiting for the manufacturer Thornton & Ross to submit its UK regulatory dossier to the Medicines & Healthcare products Regulatory Agency.
"Futura has a strong balance sheet, an experienced team, an exciting product portfolio and a particularly valuable asset in MED2002, which has the potential to be the world's fastest-acting erectile dysfunction treatment," said Clarke.
"We look forward to providing further updates in the current financial year."