This report is an updated version of the report published on 07 October 2025 at 09:28 AM GMT+ 1 

Futura Medical PLC (LSE: FUM) is an FTSE AIM All Share listed, consumer healthcare company that specializes in the development and global commercialization of sexual health products.  

Key Investment Rationale – Speculative Buy at GBX 1.70

• Continued Progress on Pipeline Assets: Development of the product pipeline continues with Eroxon Intense on track for regulatory approvals in the EU and USA by the end of 2025. The commissioning of an extensive Home User Study for this product shows a commitment to validating and potentially enhancing its market appeal based on user feedback.

• Addressing a Favourable Unmet Medical Need in Women's Health: The ongoing development of WSD4000 for female sexual dysfunction represents a strategic focus on a chronic and underserved market with no currently approved OTC treatments. Continued engagement with the FDA and the planned Early Feasibility Study reflect a methodical approach to navigating the regulatory pathway for this first-in-class product.

• Geographic Expansion and Diverse Revenue Streams: The company has successfully expanded the launch of Eroxon to 25 countries, establishing a global footprint. The revenue mix, comprising royalties from the US and direct product sales across Europe and other regions, provides a diversified, albeit currently lower than expected income base from multiple international markets.

• Upcoming Catalysts and Value Inflection Points: Several near-term milestones have the potential to influence the company's trajectory. These include the results from the Eroxon Intense Home User Study expected by October 2025, the anticipated $2.5 million IP milestone payment in H1 2026, and the conclusion of the strategic review, which may unveil new partnerships or strategic directions.

FUM Daily Chart & Valuation

One Year Technical Price Chart (as of October 07, 2025). Source: TradingView, Analysis: Kalkine Group 

As per the above-mentioned price action and technical indicators analysis, a ‘Speculative Buy’ rating has been given on Futura Medical PLC (LSE: FUM) at the Current Market Price of GBX 1.70, as of October 07, 2025, at 09:02 AM GMT + 1.

Markets are trading in a highly volatile zone currently due to certain Macro & Micro-economic data and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 07 October 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and/or technical analysis taking into consideration both short-term and long-term scenario.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 6: Dividend Yield may vary as per the stock price movement.