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The latest update is out from Futura Medical ( (GB:FUM) ).
Futura Medical has announced a successful fundraise of £2.75 million through an oversubscribed firm placing and subscription of new ordinary shares. This funding will support the company’s strategic review and development plans for Eroxon® Intense and WSD4000, as well as strengthen its working capital position. The company also announced several board changes, including the appointment of Alex Duggan as permanent CEO. The fundraise is crucial for the company’s operations, as it faces slower than expected sales and limited cash resources, with the potential risk of insolvency if the fundraising resolutions are not passed.
The most recent analyst rating on (GB:FUM) stock is a Buy with a £140.00 price target. To see the full list of analyst forecasts on Futura Medical stock, see the GB:FUM Stock Forecast page.
More about Futura Medical
Futura Medical is a consumer healthcare group specializing in the development and global commercialization of innovative and clinically proven sexual health products. Their primary product is Eroxon®, and they focus on expanding their market presence with new developments like Eroxon® Intense and WSD4000.
Average Trading Volume: 2,019,535
Technical Sentiment Signal: Sell
Current Market Cap: £7.5M
See more insights into FUM stock on TipRanks’ Stock Analysis page.