Futura slumps as suitors bide time on erectile dysfunction drug
Futura Medical (AIM: FUM) was trading 41% down late on Wednesday after announcing an update on its erectile dysfunction drug.
The UK company has had extensive discussions with a number of interested commercial partners for the out-licensing of MED2002, but most have said that they want to see positive Phase III data, especially at higher doses, ahead of more advanced licensing discussions.
Futura, which believes that a deal could earn it around 50% more once such data has been generated, therefore plans to take MED2002 through Phase III development and then partner or sell the asset.
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