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  1. #1
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    Default AFT Pharmaceuticals

    http://www.afr.com/street-talk/aft-p...0150930-gjymsn

    Thoughts?

    (clearly no details yet, but from a macro/investor perspective, I think this could be good...)

  2. #2
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    Thumbs up from me.. Good business to be in. But depends on valuation. Orion is a good example, good fundamentals but very high price multiple hence fared poorly for those who put money in IPO.

  3. #3
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    I don't know anything about the industry, but I understand pharmaceuticals are a key component of the Trans-Pacific Partnership Agreement, would it have any impact on AFT?

  4. #4
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    Officially announced yesterday or the day before.

    A couple of articles here:
    http://www.scoop.co.nz/stories/BU151...zx-and-asx.htm
    and here:
    http://home.nzcity.co.nz/news/article.aspx?id=216784

    and a fact sheet available from brokers.

    Anyone interested in this one?
    Stagalicious

  5. #5
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    That's a fair loss (-$12.9M) on a fairly mature company ($56.2M), R&D spend ~$4M with 'Maxigesic' their major IP. Be interested to know the valuation, unless it's a steal I'll be shying away.

  6. #6
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    Some more detailed information: (worth a read!)

    http://www.sharechat.co.nz/pdf/AFT_P...Fact_Sheet.pdf

  7. #7
    Divorced from logic Hectorplains's Avatar
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    Quote Originally Posted by trader_jackson View Post
    Some more detailed information: (worth a read!)

    http://www.sharechat.co.nz/pdf/AFT_P...Fact_Sheet.pdf
    A couple of links providing an Aust perspective:
    http://www.afr.com/street-talk/aft-p...0150930-gjymsn
    http://www.afr.com/street-talk/imed-...0150930-gjyobj

    Given they're going for a dual listing, it looks like they might have to be set a very realisitic strike price. FWIW: IDX made a brief climb to $1.95, today it dug a new low of $1.76.
    Last edited by Hectorplains; 18-11-2015 at 07:42 PM.

  8. #8
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    I am hearing good whispers on AFT... will be interesting to see if they do go fully ahead with the IPO (although I think they will do), and even more interesting to see what price it is...

  9. #9
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    Quote Originally Posted by kiwidollabill View Post
    That's a fair loss (-$12.9M) on a fairly mature company ($56.2M), R&D spend ~$4M with 'Maxigesic' their major IP. Be interested to know the valuation, unless it's a steal I'll be shying away.
    Thats a bit harsh Bill - they are expensing all their R and D annually and ramping up the Australian side - I will have a close look at this if the IPO goes ahead. I quite like their company story so far

  10. #10
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    thats alot of R&D (sales 80mil-up from 60mil)but a 12.9mil loss.--this is a familiar story in the Biotec sector (which is why they are normally spec stocks)--If they come up with a major product from their R&D then it could be big but.....
    Of course it depends on list price and sometimes these can go ballistic on hype,but at a time when most are leaning towards div. paying co.s with strong balance sheets you would certainly want to do your homework and keep it a smaller % of the portfolio. IMO--they would be up against some pretty tough competition worldwide. Maxigesic--Isnt that a combination of Ibuprofin and paracetimal?--a novel idea to combine the 2 ,but both those ingredients have been around for ages so hardly earth shattering in terms of R&D and new products.

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