AFT Pharmaceuticals

[macduffy]

Any theories on what's caused the recovery and surge in AFT's shareprice recently? Or, for that matter, what caused the slump earlier in the month?
(See previous post by BlackPeter )

Disc: Small holding in AFT.

[Rawz]

Was a temporary cold and the party has started up again.
Get your happy pills as we will be at $10sp one day

Disc: small holding also

[Pegasus2000]

as at 08:30:45, Thursday 01 April, 2021 (NZDT)
GENERAL: AFT: AFT updates earnings guidance
AFT
01/04/2021 08:30
GENERAL
PRICE SENSITIVE
REL: 0830 HRS AFT Pharmaceuticals Limited

GENERAL: AFT: AFT updates earnings guidance

01 April 2021

AFT updates earnings guidance
AFT Pharmaceuticals (NZX.AFT, ASX.AFP) today revises its guidance on its
financial results for the year to 31 March 2021 following a number of
COVID-19 related delays to licensing negotiations and disruptions to the
company's global supply and distribution networks.
AFT expects revenue for the 2021 financial year to be around $110 million,
representing an uplift on the prior year's $105.6 million. Operating profit
for the period is expected to be between $ 9 million and $11 million,
compared with the prior year's equivalent figure of $11.4 million , lower
than the guidance affirmed in November 2020 of $14 million to $18 million.
AFT Managing Director Dr Hartley Atkinson said: "We are disappointed to be
revising our guidance, a move which, to a large extent, reflects delays to
licensing negotiations we expected to conclude in the 2021 financial year.

"The discussions have been hampered by COVID related travel restrictions and
the difficulties collaborating across different time zones. We remain
confident but cannot guarantee that we can conclude these negotiations with
financial benefits which will, if negotiations are successful, accrue in the
new financial year.

"Additionally, the revised outlook reflects a broad range of pandemic-related
disruptions that by themselves have not taken a material toll on individual
business lines, but over the last quarter have cumulatively weighed on our
financial results.

"These disruptions have affected the production and shipping of our
Maxigesic(R) pain relief medicine from our suppliers. Several Maxigesic
launches have taken longer than expected or have been pushed from February or
March into the next financial year.

"Travel-restrictions have delayed regulatory audits of production facilities
resulting in flow on delays to Australian launches of key new products.

"We have pivoted to minimise these disruptions by seeking alternative sources
of supply and innovated to sell products such as facemasks and developed our
long-lasting hand sanitiser Crystawash(R) Extend.

"Meanwhile, we have continued to put in place licensing and distribution
agreements that set the company up for the future, including agreements for
the intravenous and oral dose forms of Maxigesic and distribution agreements
for our orphan drug Pascomer(R), a treatment for facial angiofibromas, a
symptom of Tuberous Sclerosis Complex.

"Indeed, despite the pandemic we have concluded eight new licensing
agreements, covering 22 territories for Maxigesic IV(R) pain relief medicine
and four new agreements covering four territories for the oral form of the
medicine. As announced earlier in March, Pascomer, has been licensed in 30
countries across Europe.

"These achievements represent significant progress in trying circumstances
and, importantly, continue to strengthen AFT's capacity to build on its
record for consistently delivering year-on-year sales growth," said Dr
Atkinson.

"We look forward to providing more detail when we release our audited
financial results in May."

Released for and on behalf of AFT Pharmaceuticals by Chief Financial Officer
Malcolm Tubby.

For more information:
Investors Media
Dr Hartley Atkinson Richard Inder
Managing Director The Project
AFT Pharmaceuticals Tel: +64 21 645 643
Tel: +64 9488 0232

[Rawz]

Disappointing!!

[Getty]

Everyone knows Covid has been negative for many businesses, and results will be down on previous periods for many.

However, AFT revenue increased $4.4M to $110M, yet op profit now estimated to drop as much as $2.4 M from previous period.

Despite knowing Covid impacts in Nov 2020, guidance was given $14/18M op profit, vs maybe as low as $9m now.

Was Hartley just shooting the breeze?

Less surfing, and more attention to detail please!

[MarineSalvage]

definitely disappointing - will be interesting to see how far the sp drops - I'd been considering buying back in... I dont think it will drop enough for me though

[porkandpuha]

Everyone knows Covid has been negative for many businesses, and results will be down on previous periods for many.

Everyone except those gathered around the table formulating guidance back in Nov it seems

[Rawz]

AFT got a Bliss felling about it. A ton of potential but not executing.
Both blame covid.

Revenue should have grown much more. Was hoping for 15-20%, would have settled for 10-15%

[winner69]

I saw the headline and assumed the news was good

I was wrong

[macduffy]

So that's what all the swings in the shareprice were about. I'm reassessing whether I want to remain invested in this "leaky" outfit.