CITY WHISPERS: Erectile dysfunction firm hoping to boost its mojo
CITY WHISPERS: Futura Medical, an erectile dysfunction company, is hoping to boost its mojo
After conquering the aisles of Boots, a breakthrough treatment for erectile dysfunction developed by AIM-listed Futura Medical could be on its way to worldwide domination.
Futura’s over-the-counter gel — called MED3000 but marketed as Eroxon — can work within ten minutes and has fewer side effects than pills.
It launched in the UK this month and is already available in Belgium, but Guildford-based Futura is plotting a range of other launches around the world over the next year.
Groundbreaking: Futura’s over-the-counter gel — called MED3000 but marketed as Eroxon — can work in ten minutes and has fewer side effects than pills
Boss James Barder remains in the dark about which countries he has lined up, though it has already been approved by regulators for use in the European Economic Area, the UK and part of the Middle East, including the UAE, Oman and Iran.
The US is the next big target. After that, the focus will shift more to Asia.
Perhaps this will provide a long-lasting rise in shares as a 26 percent spike has lost momentum in the wake of the UK launch.
Short sellers look to DFS
Hopefully the bosses at DFS were there the last time they checked their short selling data.
The banking chain has attracted short bets from hedge funds GLG Partners and Tellworth Investments, which will profit if the share price falls.
The stock is down 19 percent so far in 2023, not helped by half-year results in March that showed a decline in earnings.
The value of the bets is only 2.5 percent of shares issued, but that’s hardly good news for a stock that has previously attracted unwanted attention.
Bad news keeps coming for Pazner
More bad news for Itai Pazner, the former boss of William Hill owner 888 Holdings.
The Israeli businessman was ousted as CEO of the gambling group in January after 888 revealed flaws in anti-money laundering processes.
Last year he also missed out on a bonus and saw his salary cut in half from £3 million to £1. 5 million.
Although he was eligible for a small compensation, the board decided, partly ‘in the light of the company’s results’, not to offer him anything.
Part of his bonus was tied to creating and launching a strategic plan for safer gambling.
As 888 – which declined to comment – put it in its annual report, this was ‘not achieved’.
City awaits merger between Vodafone and Three
One of the two big questions that concerns Vodafone has been answered.
Interim boss Margherita Della Valle has been named CEO after a nearly four-month trawl.
A member of the old guard – she was chief of finance during the turbulent reign of former chief Nick Read – her appointment was greeted with consternation by those who wanted a fresh start for the telecom group.
But they don’t have time to get too worked up about management changes – the second big question, which is still unanswered, is whether her presence will accelerate the expected merger between Vodafone and Three.
The council is currently waiting for the telephone to ring.