StockMarketWire.com - InnovaDerma said revenue grew 38% in the first four months of the new fiscal year, thanks to 'strong' performances across its topical brands and its premature ejaculation treatment.

Its premature ejaculation treatment, Prolong, had made 'solid progress securing multiple distribution agreements,' the company said. It also expected the product to receive regulatory approvals in other geographies.

InnovaDerma also said it expected that revenue contribution from the launch of a new skin-care related category with Superdrug - in the second half of the current fiscal year - would be more keenly felt in 2021 as the brand establishes itself.

'We believe this has the potential to disrupt a large category which has received little innovation in recent years and presents a significant opportunity for us to cross-sell to our large self-tanning DTC customer base,' said executive chairman, Haris Chaudhry.

'InnovaDerma is trading in line with market expectations and these remain unchanged for the full year,' he added.

At 10:03am: [LON:IDP] InnovaDerma Plc share price was -7p at 72p



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