Plethora treatment wins NHS approval
Specialist pharmaceutical concern Plethora Solutions Holdings (PLE) says it has won approval for its vaginal dryness treatment Hyalofemme from the NHS for prescription.
The agreement means that doctors in the UK will now be able to write prescriptions for Hyalofemme for the first time for atrophic vaginitis, commonly referred to as vaginal dryness. Traditional treatments involve the use of hormonal creams containing estrogen, but such creams are often inappropriate for cancer patients, who often suffer vaginal dryness as a side effect of cancer treatment.
Chairman Bill Robinson remarks the decision by the NHS should 'increase the commercial value of our pipeline by exploiting products secured last year'. He adds that the release of Hyalofemme is an 'important treatment' for atrophic vaginitis.
Following the announcement analysts at house broker Daniel Stewart held their forecasts of a year-end loss of £1.3 million (2010: loss of £1.5 million) on revenue up £100,000 to £1.2 million. They have pencilled in a loss per share of 2.5p for 2011 and a further loss of 3.4p a share for 2012.
Shares in Plethora were up 0.25p this morning following the announcement to 7.5p, the price at which Growth Company Investor recommended them earlier this month. A good sign for the company's prospects, Hyalofemme will be prescribed both for those being treated for cancer and women going through the menopause. We therefore reiterate our speculative buy rating.