Futura Medical PLC shares rose on Monday after it said it remains on track to submit its MED3000 erectile-dysfunction treatment to the U.S. drug regulator by the end of the third quarter of 2022.
Shares at 0900 GMT were up 3.30 pence, or 10%, at 34.90 pence.
The U.K. pharmaceutical developer focused on sexual health and pain relief said it is carrying out additional studies for the U.S. Food and Drug Administration as well as a short study about the ability of individuals to self-diagnose their erectile dysfunction and select the treatment correctly.
The company said it is aiming for an FDA authorization to sell MED3000 without a doctor's prescription in the first quarter of 2023, becoming the first ED treatment available over the counter.
"We are continuing to make good progress with the regulatory process for MED3000 in the U.S. We are also executing upon our strategic plans to leverage commercialization globally with a network of licensing and distribution partners with brand-building strength, healthcare credibility and regional infrastructure and marketing expertise," Chief Executive James Barder said.
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