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Futura Medical reinitiated at ‘buy’ as Liberum forecasts MED3000 sales potential of £300mln

The broker said with the right commercialisation partner, the firm's erectile dysfunction treatment could take a 15% market share in the US and EU

Futura Medical PLC - Futura Medical reinitiated at ‘buy’ as Liberum forecasts MED3000 sales potential of £300mln

Futura Medical PLC (LON:FUM) has been reinitiated with a ‘buy’ rating and 55p target price by analysts at Liberum, who said the firm’s MED3000 erectile dysfunction (ED) treatment had a peak sales potential of £300mln.

In a note on Monday, the broker said they expected AIM-listed Futura to secure US and EU approval for the product by mid-2021 “at the latest given the quality and quantity of its data”.

READ: Futura Medical files for pre-submission meeting with the FDA for MED3000

“MED3000 has competitive efficacy vs. oral therapies, looks to have a cleaner safety profile and works far quicker. We see it positioned as a first line, low-risk therapy”, Liberum said.

Analysts also predicted that with the right partner, MED3000 could take a “15% market share in the US and EU5, which at a slight price premium implies just over £300mln of peak sales”.

Given such high potential, Liberum said finding a commercialisation partner “should be straightforward” for Futura and “unlock significant value for shareholders”.

The bullish assessment sent Futura’s shares 5.7% higher to 13.7p in late-morning trading.

Quick facts: Futura Medical PLC

Price: 13.5 GBX

Market: AIM
Market Cap: £33.16 m

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