A listed MedTech which ousted its leadership last year and is conducting a strategic review has reported revenue ahead of expectations.

The CEO and chairman of Surrey-based Futura Medical plc agreed to step down following discussions between the board and the company’s largest shareholder. 

Futura, which floated over 20 years ago with a share price of 73.08p, has developed Eroxon, a gel for treating erectile dysfunction.

It currently has a share price of just 1.4p and market cap of just over £8m. When Jeff Needham and James Barder were forced out last year, these stood at around 8p and £25.3m.

The share price was 31.43p at the beginning of 2025. 

Now the company reports that it expects to deliver FY25 revenue of £1.7m, ahead of previously guided management expectations of £1.3-1.4m.

Net cash at year end was £3.4m following a £2.75m fundraise in November 2025.

Under an existing agreement with Haleon and subject to the granting of a US patent for Eroxon, the company expects to trigger a milestone payment from Haleon of $2.5m during H1 2026; in addition, the Company expects to receive a tax credit refund for FY2025 of approximately £300,000.