Futura Medical plc, a pharmaceutical company developing sexual health products, has announced the grant of 10,590,675 options over Ordinary Shares to employees and directors. Out of these options, 4,084,681 have been awarded to directors. The options have been granted under existing schemes and will vest equally over three years until October 2026, with 25% of the options having immediate vesting. The main ongoing vesting condition is that the individual remains an employee or director at the time of vesting. The exercise price for the options is 0.2p. The total number of options held by each director after the grant has been detailed in the announcement.
The company's annual report and accounts will include full details of the non-executive directors' remuneration. Futura Medical is a pharmaceutical company that develops innovative products based on its proprietary transdermal DermaSys® technology. The products are tailored for specific indications and applications, optimized for clinical efficacy, safety, administration, and patient convenience. The company focuses on the prescription and consumer healthcare markets.
Futura Medical's flagship product is MED3000, a topical gel formulation for the treatment of erectile dysfunction (ED). The company has conducted two Phase 3 studies using MED3000, which demonstrated its effectiveness as a treatment for ED with a rapid speed of onset and a favorable benefit versus risk profile. MED3000 has been granted a CE Mark in 2021 and US marketing authorization. Another product developed by the company is Eroxon®, a clinically proven topical treatment for adult men with erectile dysfunction. Eroxon® is FDA approved in the US, CE marked in Europe, and UKCA marked in the UK.
Futura Medical is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.