Announcement • Apr 07
AFT Pharmaceuticals Limited to Report Fiscal Year 2026 Results on May 21, 2026 AFT Pharmaceuticals Limited announced that they will report fiscal year 2026 results on May 21, 2026 New Risk • Dec 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 26
First half 2026 earnings released: EPS: NZ$0.03 (vs NZ$0.02 loss in 1H 2025) First half 2026 results: EPS: NZ$0.03 (up from NZ$0.02 loss in 1H 2025). Revenue: NZ$114.9m (up 33% from 1H 2025). Net income: NZ$3.30m (up NZ$5.48m from 1H 2025). Profit margin: 2.9% (up from net loss in 1H 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Pharmaceuticals industry in Oceania. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Price Target Changed • Nov 21
Price target increased by 11% to NZ$4.20 Up from NZ$3.80, the current price target is an average from 2 analysts. New target price is 12% above last closing price of NZ$3.75. Stock is up 38% over the past year. The company is forecast to post earnings per share of NZ$0.16 for next year compared to NZ$0.11 last year. Announcement • Nov 13
AFT Pharmaceuticals Brings Next-Generation Liposomal Collagen and Wellness Range to the U.S. Market AFT Pharmaceuticals announced the launch of its full family of Lipo-Sachets products in the United States. The new lineup brings cutting-edge liposomal delivery technology to everyday health and beauty routines, making it easier for consumers to look and feel their best. The range introduces two advanced collagen formulations designed for real-life results. Age Repair Lipo-Sachets combines marine collagen peptides with Vit vitamins C, E, A and Biotin to support smoother-looking skin, stronger hair and nails, and improved elasticity and firmness. Clinical research backs these benefits: in a 12-week placebo-controlled study, daily collagen supplementation reduced crow's feet wrinkles by 16.5% with visible improvement in nearly three-quarters of participants, while also delivering measurable gains in skin firmness and elasticity by weeks 8 and 12.1 For mobility and long-term joint comfort, Super Joint Lipo-Sachets delivers a comprehensive joint health solution. The formula blends marine collagen peptides with Glucosamine and Chondroitin to help maintain cartilage strength and flexibility, while Vit vitamins C, D and E support bone health, muscle function and antioxidant protection. Taken daily, it's designed to ease stiffness, support mobility and keep people moving comfortably at every stage of life. To round out the offering, AFT is also launching a liposomal vitamin collection that includes Vitamin C, Vitamin D and Iron. Powered by the same patented LIPOSHELL®? technology, these supplements are designed for superior absorption and effectiveness compared to traditional formats, giving consumers a reliable way to support daily wellness. The patented Liposhell delivery system works by encapsulating nutrients in microscopic liposomes that mimic the body's cellular structure. This protective layer allows vitamins and collagen peptides to pass safely through the digestive system and reach the bloodstream intact. The result is better absorption, fewer digestive upsets and benefits that can be seen and felt, from glowing skin to stronger joints and everyday energy. AFT Pharmaceuticals has already seen strong demand for its Lipo-Sachets®? in New Zealand, Australia and Asia. With the U.S. launch, the company is set to meet growing interest in high-quality supplements that combine science with convenience. The collagen line, including Age Repair and Super Joint, will be available through Amazon.com starting at $59.99 per 30-day supply, while the vitamin range, featuring Vitamin C, Vitamin D and iron, will be offered starting at $29.99 per 30- day supply. Announcement • Oct 24
AFT Pharmaceuticals Limited to Report First Half, 2026 Results on Nov 20, 2025 AFT Pharmaceuticals Limited announced that they will report first half, 2026 results on Nov 20, 2025 Recent Insider Transactions • Jul 05
Co-Founder recently bought NZ$566k worth of stock On the 2nd of July, Hartley Atkinson bought around 200k shares on-market at roughly NZ$2.83 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Hartley has been a buyer over the last 12 months, purchasing a net total of NZ$594k worth in shares. Upcoming Dividend • Jun 11
Upcoming dividend of NZ$0.018 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 04 July 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of New Zealander dividend payers (6.1%). Lower than average of industry peers (2.5%). Announcement • May 30
AFT Pharmaceuticals Limited, Annual General Meeting, Aug 01, 2025 AFT Pharmaceuticals Limited, Annual General Meeting, Aug 01, 2025. Location: milford, auckland New Zealand Major Estimate Revision • May 29
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from NZ$255.9m to NZ$245.5m. EPS estimate also fell from NZ$0.176 per share to NZ$0.156 per share. Net income forecast to grow 36% next year vs 36% growth forecast for Pharmaceuticals industry in New Zealand. Consensus price target broadly unchanged at NZ$3.70. Share price rose 4.1% to NZ$2.81 over the past week. Declared Dividend • May 24
Dividend increased to NZ$0.018 Dividend of NZ$0.018 is 13% higher than last year. Ex-date: 18th June 2025 Payment date: 4th July 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 27%. Reported Earnings • May 22
Full year 2025 earnings released: EPS: NZ$0.11 (vs NZ$0.15 in FY 2024) Full year 2025 results: EPS: NZ$0.11 (down from NZ$0.15 in FY 2024). Revenue: NZ$208.0m (up 6.5% from FY 2024). Net income: NZ$12.0m (down 23% from FY 2024). Profit margin: 5.8% (down from 8.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 31% growth forecast for the Pharmaceuticals industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 13% per year. Announcement • May 01
AFT Pharmaceuticals Limited to Report Fiscal Year 2025 Results on May 22, 2025 AFT Pharmaceuticals Limited announced that they will report fiscal year 2025 results at 9:00 AM, NZT - New Zealand on May 22, 2025 Major Estimate Revision • Nov 28
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NZ$216.9m to NZ$219.3m. EPS estimate fell from NZ$0.142 to NZ$0.114 per share. Net income forecast to grow 45% next year vs 22% growth forecast for Pharmaceuticals industry in New Zealand. Consensus price target up from NZ$3.63 to NZ$3.73. Share price rose 6.4% to NZ$2.82 over the past week. Reported Earnings • Nov 25
First half 2025 earnings released: NZ$0.02 loss per share (vs NZ$0.02 profit in 1H 2024) First half 2025 results: NZ$0.02 loss per share (down from NZ$0.02 profit in 1H 2024). Revenue: NZ$86.7m (up 3.7% from 1H 2024). Net loss: NZ$2.19m (down 220% from profit in 1H 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 34% growth forecast for the Pharmaceuticals industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NZ$2.73, the stock trades at a forward P/E ratio of 19x. Average trailing P/E is 15x in the Pharmaceuticals industry in Oceania. Total loss to shareholders of 43% over the past three years. Price Target Changed • Oct 24
Price target increased by 24% to NZ$4.60 Up from NZ$3.70, the current price target is provided by 1 analyst. New target price is 39% above last closing price of NZ$3.30. Stock is down 2.7% over the past year. The company is forecast to post earnings per share of NZ$0.16 for next year compared to NZ$0.15 last year. Announcement • Oct 11
AFT Pharmaceuticals Limited to Report First Half, 2025 Results on Nov 21, 2024 AFT Pharmaceuticals Limited announced that they will report first half, 2025 results on Nov 21, 2024 Price Target Changed • Sep 14
Price target increased by 24% to NZ$4.60 Up from NZ$3.70, the current price target is provided by 1 analyst. New target price is 39% above last closing price of NZ$3.32. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of NZ$0.16 for next year compared to NZ$0.15 last year. Upcoming Dividend • Jun 12
Upcoming dividend of NZ$0.016 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 04 July 2024. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of New Zealander dividend payers (7.5%). Lower than average of industry peers (2.2%). Announcement • May 31
AFT Pharmaceuticals Limited, Annual General Meeting, Aug 02, 2024 AFT Pharmaceuticals Limited, Annual General Meeting, Aug 02, 2024. Location: milford cruising club, 24 craig road, milford, auckland New Zealand Declared Dividend • May 25
Dividend of NZ$0.016 announced Shareholders will receive a dividend of NZ$0.016. Ex-date: 19th June 2024 Payment date: 4th July 2024 Dividend yield will be 0.5%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 6%. Reported Earnings • May 23
Full year 2024 earnings released: EPS: NZ$0.15 (vs NZ$0.10 in FY 2023) Full year 2024 results: EPS: NZ$0.15 (up from NZ$0.10 in FY 2023). Revenue: NZ$195.4m (up 25% from FY 2023). Net income: NZ$15.6m (up 47% from FY 2023). Profit margin: 8.0% (up from 6.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 35% growth forecast for the Pharmaceuticals industry in Oceania. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • May 03
AFT Pharmaceuticals Limited to Report Fiscal Year 2024 Results on May 23, 2024 AFT Pharmaceuticals Limited announced that they will report fiscal year 2024 results at 9:00 AM, NZST - New Zealand Standard on May 23, 2024 Price Target Changed • Mar 29
Price target decreased by 22% to NZ$3.70 Down from NZ$4.73, the current price target is an average from 2 analysts. New target price is 18% above last closing price of NZ$3.13. Stock is down 9.5% over the past year. The company is forecast to post earnings per share of NZ$0.15 for next year compared to NZ$0.10 last year. Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 12%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from NZ$189.1m to NZ$192.3m. EPS estimate fell from NZ$0.168 to NZ$0.147 per share. Net income forecast to grow 84% next year vs 24% growth forecast for Pharmaceuticals industry in New Zealand. Consensus price target broadly unchanged at NZ$4.55. Share price was steady at NZ$3.31 over the past week. Buying Opportunity • Nov 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.4%. The fair value is estimated to be NZ$4.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 34% in 2 years. Earnings is forecast to grow by 128% in the next 2 years. Announcement • Nov 23
AFT Pharmaceuticals Limited Reaffirms Earnings Guidance for the Fiscal Year 2024 AFT Pharmaceuticals Limited reaffirmed earnings guidance for the fiscal year 2024. The company is continuing with its operating profit guidance of $22 million to $24 million. Buying Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.1%. The fair value is estimated to be NZ$4.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 22% per annum over the same time period. Announcement • Oct 09
AFT Pharmaceuticals Limited to Report First Half, 2024 Results on Nov 23, 2023 AFT Pharmaceuticals Limited announced that they will report first half, 2024 results on Nov 23, 2023 Buying Opportunity • Oct 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.1%. The fair value is estimated to be NZ$4.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 22% per annum over the same time period. Announcement • Sep 28
AFT Pharmaceuticals Announces Board Changes AFT Pharmaceuticals announced the appointment of Andrew Lane as an independent non-executive director. The appointment fills the vacancy left by Jon Lamb who retires from the board on 28 September 2023 following his 11-year tenure. The board has determined that Andrew Lane is an Independent Director (within the meaning of the NZX Listing Rules). Recent Insider Transactions • Sep 19
Independent Non-Executive Director recently sold NZ$109k worth of stock On the 14th of September, Jon Lamb sold around 32k shares on-market at roughly NZ$3.37 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Buying Opportunity • Sep 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.5%. The fair value is estimated to be NZ$4.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 22% per annum over the same time period. Announcement • May 26
AFT Pharmaceuticals Limited, Annual General Meeting, Aug 04, 2023 AFT Pharmaceuticals Limited, Annual General Meeting, Aug 04, 2023, at 10:30 NZST - New Zealand Standard. Location: Milford Cruising Club 24 Craig Road, Milford Auckland New Zealand Major Estimate Revision • May 24
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from NZ$0.20 to NZ$0.166 per share. Revenue forecast steady at NZ$189.0m. Net income forecast to shrink 12% next year vs 20% growth forecast for Pharmaceuticals industry in New Zealand . Consensus price target up from NZ$3.89 to NZ$4.17. Share price rose 10% to NZ$3.75 over the past week. Announcement • May 04
AFT Pharmaceuticals Limited to Report Fiscal Year 2023 Results on May 22, 2023 AFT Pharmaceuticals Limited announced that they will report fiscal year 2023 results at 9:00 AM, NZST - New Zealand Standard on May 22, 2023 Price Target Changed • Jan 05
Price target decreased to NZ$4.22 Down from NZ$5.48, the current price target is an average from 3 analysts. New target price is 13% above last closing price of NZ$3.74. Stock is down 16% over the past year. The company is forecast to post earnings per share of NZ$0.12 for next year compared to NZ$0.19 last year. Major Estimate Revision • Dec 01
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from NZ$0.21 to NZ$0.12 per share. Revenue forecast steady at NZ$155.0m. Net income forecast to grow 6.7% next year vs 21% growth forecast for Pharmaceuticals industry in New Zealand. Consensus price target down from NZ$5.48 to NZ$5.23. Share price rose 4.7% to NZ$3.77 over the past week. Reported Earnings • Nov 25
First half 2023 earnings released: EPS: NZ$0.01 (vs NZ$0.04 in 1H 2022) First half 2023 results: EPS: NZ$0.01 (down from NZ$0.04 in 1H 2022). Revenue: NZ$65.8m (up 18% from 1H 2022). Net income: NZ$1.45m (down 66% from 1H 2022). Profit margin: 2.2% (down from 7.6% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Pharmaceuticals industry in Oceania. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 13
Price target decreased to NZ$5.51 Down from NZ$5.95, the current price target is an average from 4 analysts. New target price is 62% above last closing price of NZ$3.40. Stock is down 17% over the past year. The company is forecast to post earnings per share of NZ$0.22 for next year compared to NZ$0.19 last year. Announcement • Oct 10
AFT Pharmaceuticals Limited to Report First Half, 2023 Results on Nov 24, 2022 AFT Pharmaceuticals Limited announced that they will report first half, 2023 results on Nov 24, 2022 Announcement • Sep 02
AFT Pharmaceuticals Limited Update on Maxigesic IV Us Registration Filing AFT Pharmaceuticals updates investors on its programme to obtain US Food and Drug Administration registration of Maxigesic IV, the intravenous form of its patented pain relief medicine. Alongside its Maxigesic IV development partner Hyloris Pharmaceuticals, AFT is planning to commence additional studies to answer the FDA's July 2022 request for further information on Maxigesic IV's packaging. The studies - to provide further data on extractables and leachables from the packaging - are expected to commence before the end of this year and are due to complete in the new year. AFT will then file with the FDA once the studies are complete. Maxigesic IV, is a novel, unique combination of 1000mg paracetamol and 300mg ibuprofen solution for infusion, for the treatment of post-operative pain. It has been developed in collaboration with Hyloris and currently licensed in more than 100 countries across the globe. It has also been registered in 41 countries and launched in 10 countries including Australia, France, Germany, Indonesia and Korea. The medicine is protected by a number of granted patents and pending patent applications which extend until 2035-2038. Announcement • Jul 27
AFT Pharmaceuticals Limited Completes Pascomer Clinical Study AFT Pharmaceuticals announced the analysis of its study examining its medicine Pascomer as a topical treatment for facial angiofibromas (FA) associated with Tuberous Sclerosis Complex (TSC). The study showed Pascomer delivered statistically significant [p<0.05] benefits against the clinically relevant IGA, FASI and patient-physician improvement scales. However, the medicine did not reach the threshold on the IGA scale that the US Food and Drug Administration (FDA) considered necessary for its registration in the United States (US) as a treatment for FA. AFT will now take over funding the remaining development work for the orphan drug indication of Pascomer in addition to any non-orphan indications. It will also take over the commercialisation programme in North America. Germany's Desitin Arzneimittel GmbH continues as the licensee for the FA orphan drug indication in Europe, Switzerland and UK. Neither the clinical study results, nor the change in the medicine's licensing, development and commercialisation arrangements, are expected to diminish the $12.5 million carrying value of AFT's Pascomer assets. Pascomer study detail Tuberous Sclerosis Complex (TSC), is a genetic disease, estimated to affect one in 6,000 people. Around 70-80% of those with TSC over the age of two suffer from facial angiofibromas, which can cause adverse effects on appearance and in serious cases, impair breathing and vision. The Pascomer clinical study compared the change in facial angiofibromas in patients treated with either placebo, or Pascomer low or high strength for 26 weeks. A total of 107 patients were enrolled with 38 in the placebo group and 36 in the Pascomer low strength and 33 in the Pascomer high strength patient groups. The US FDA required a comparison of responders amongst groups using a 2-point improvement in the IGA scale as the criteria for a success. This is a challenging endpoint to reach and although higher for both treatment groups in comparison with the placebo it did not reach statistical significance [p>0.05]. On the less rigorous exploratory primary endpoint using a 1-point improvement in the IGA scale both low and high strength Pascomer had a statistically significant higher responder rate than the placebo [p<0.05]. The secondary endpoints for the IGA scale, FASI, Patient or Physician rated improvement all reached statistical significance [p<0.05] for both the low and high strength Pascomer treatments in comparison with the placebo. Announcement • Jul 22
Dr. Doug Wilson to Step Down from AFT Pharmaceuticals Board AFT Pharmaceuticals announced that Dr. Doug Wilson will step down from its Board of Directors at the conclusion of the company's Annual Meeting of Shareholders on 5 August 2022. Dr. Wilson joined the AFT Board in 2012 following a distinguished and diverse career in academia and business and with deep experience spanning pharmaceutical research, development and commercialisation. Dr. Doug Wilson joined the AFT Board in 2012 after a diverse and distinguished career. His first job in medicine was as a nurse at Auckland Hospital during a student vacation. Upon graduating from Otago University medical school, he undertook postgraduate training in medicine, blood and kidney diseases and research. After moving to the UK he gained a PhD training in haematology and immunology. He returned to New Zealand and was appointed an associate professor at Auckland Medical School, and this was followed by other academic roles including visiting professor at the King Saud University in Riyadh, Saudi Arabia. At the age of 50 he opted for a new career in business, joining the German pharmaceutical company Boehringer Ingelheim, first as its New Zealand Medical Director and ending his tenure as the company's worldwide head of Medical Research and Regulatory Affairs. During this time, he led teams that developed and commercialised new drugs for hypertension, HIV, chronic lung diseases, strokes, heart attacks, prostatic disease among many others. Announcement • Jul 01
US FDA Seeks More Information on AFT Pharmaceuticals Limited's Maxigesic IV Application AFT Pharmaceuticals announced that it has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) on its application for the US registration of Maxigesic IV®, the intravenous form of its patented pain relief medicine. The FDA have requested additional data on one remaining issue. Maxigesic® IV, is a novel, unique combination of 1000mg paracetamol and 300mg ibuprofen solution for infusion, for the treatment of post-operative pain. It has been developed in collaboration with Hyloris and currently licensed in more than 100 countries across the globe. It has also been registered in 37 countries and launched in 7 countries including Australia, Germany and Korea. The medicine is protected by several granted patents and pending patent applications. Price Target Changed • Jun 18
Price target decreased to NZ$4.40 Down from NZ$5.76, the current price target is an average from 4 analysts. New target price is 16% above last closing price of NZ$3.78. Stock is down 19% over the past year. The company is forecast to post earnings per share of NZ$0.22 for next year compared to NZ$0.19 last year. Announcement • May 30
AFT Pharmaceuticals Limited, Annual General Meeting, Aug 05, 2022 AFT Pharmaceuticals Limited, Annual General Meeting, Aug 05, 2022, at 10:30 NZST - New Zealand Standard. Location: Milford Cruising Club, 24 Craig Road, Milford Auckland New Zealand Reported Earnings • May 24
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: NZ$0.19 (up from NZ$0.074 in FY 2021). Revenue: NZ$130.3m (up 15% from FY 2021). Net income: NZ$19.8m (up 161% from FY 2021). Profit margin: 15% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 29%. Over the next year, revenue is forecast to grow 21%, compared to a 118% growth forecast for the pharmaceuticals industry in New Zealand. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 16% share price gain to NZ$3.65, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Pharmaceuticals industry globally. Total returns to shareholders of 30% over the past three years. Announcement • May 04
AFT Pharmaceuticals Limited to Report Fiscal Year 2022 Results on May 23, 2022 AFT Pharmaceuticals Limited announced that they will report fiscal year 2022 results at 9:00 AM, NZST - New Zealand Standard on May 23, 2022 Price Target Changed • Apr 27
Price target increased to NZ$5.88 Up from NZ$4.85, the current price target is an average from 5 analysts. New target price is 59% above last closing price of NZ$3.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of NZ$0.15 for next year compared to NZ$0.074 last year. Announcement • Apr 06
AFT Pharmaceuticals Announces US Food and Drug Administration Approve Topical Treatment Indicated for Facial Angiofibroma AFT Pharmaceuticals announced the US Food and Drug Administration (FDA) has approved a topical treatment indicated for facial angiofibroma (FA) associated with Tuberous Sclerosis Complex (TSC) developed by Japan's Nobelpharma. The active ingredient in Nobelpharma's medicine is rapamycin, which AFT and its development partner, Timber Pharmaceuticals, are also developing as a treatment for FA in TSC and other larger non orphan indications under the brand Pascomer. AFT notes that the clinical study results for its study of rapamycin for the FA in TSC orphan indication will be available in mid-2022. It confirms that its clinical trial program for non-orphan drug Pascomer indications will continue. Recent Insider Transactions • Jan 14
Independent Director recently bought NZ$66k worth of stock On the 12th of January, Jon Lamb bought around 15k shares on-market at roughly NZ$4.41 per share. In the last 3 months, they made an even bigger purchase worth NZ$171k. Insiders have collectively bought NZ$237k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 24
Independent Director recently bought NZ$171k worth of stock On the 17th of December, Jon Lamb bought around 41k shares on-market at roughly NZ$4.20 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Dec 09
AFT Pharmaceuticals Limited Welcomes Australian Federal Court Appeal Success AFT Pharmaceuticals welcomed the Australian Federal Court's decision this week to allow its appeal of a comparative advertising judgement brought by Reckitt Benckiser. The Australian Federal Court has found AFT was justified in making a series of claims in relation to the efficacy of its Maxigesic pain relief tablets in comparison to Ibuprofen alone or paracetamol alone. Reckitt Benckiser has until 4 January 2022 to file an application for special leave toappeal to the High Court should it so chose. Reported Earnings • Nov 20
First half 2022 earnings released: EPS NZ$0.04 (vs NZ$0.01 in 1H 2021) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2022 results: Revenue: NZ$55.5m (up 14% from 1H 2021). Net income: NZ$4.24m (up 256% from 1H 2021). Profit margin: 7.6% (up from 2.4% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 20
Price target increased to NZ$5.88 Up from NZ$4.85, the current price target is an average from 5 analysts. New target price is 20% above last closing price of NZ$4.91. Stock is down 0.8% over the past year. The company is forecast to post earnings per share of NZ$0.15 for next year compared to NZ$0.074 last year. Announcement • Jul 15
AFT Pharmaceuticals Got First Regulatory Approval of Maxigesic Oral Liquid in Europe AFT Pharmaceuticals announced that it has successfully gained its first regulatory approval of Maxigesic Oral Liquid in Europe with further regulatory approvals now expected. Maxigesic Oral Liquid is a novel non-opioid treatment for pain in children between the ages of 2-12 years. It is a patented unique combination of 160mg paracetamol and 48mg ibuprofen per 5ml oral suspension and is an extension of AFT's patented Maxigesic family of medicines. The registration follows a pivotal clinical safety study in 251 patients in Australia, New Zealand and Mexico between the ages of 2-12, who were treated for up to 11 days after a tonsillectomy. The commercialisation of the tablet version of the medicine is establishing the brand and acceptance across broad populations around the world. The new dose forms such as Oral Liquid and the intravenous form Maxigesic IV ® extend the addressable market and the growth potential for AFT and its global licensee partners. The registration of the Oral Liquid version is also a significant achievement because of the additional regulatory challenges of gaining approval for a medicine targeted
at children. AFT Pharmaceuticals is making good progress commercialising the Maxigesic family of medicines around the world. Maxigesic tablets, Maxigesic IV ® and the Oral Liquid form, are now licensed in more than 100 countries across the globe. The tablet and intravenous dose forms are registered in 49 and 24 countries,respectively. Further registrations of these forms as well as the Oral Liquid are expected in the 2022. Reported Earnings • May 25
Full year 2021 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: NZ$113.1m (up 7.1% from FY 2020). Net income: NZ$7.78m (down 34% from FY 2020). Profit margin: 6.9% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Announcement • May 24
AFT Pharmaceuticals Limited Announces Earnings Guidance for the Fiscal Year 2022 AFT Pharmaceuticals Limited announced earnings guidance for the fiscal year 2022. For the year, the company is targeting an operating profit range of $18 million to $23 million. Recent Insider Transactions Derivative • Apr 16
CFO & Company Secretary exercised options to buy NZ$205k worth of stock. On the 13th of April, Malcolm Tubby exercised options to buy 50k shares at a strike price of around NZ$2.80, costing a total of NZ$140k. This transaction amounted to 53% of their direct individual holding at the time of the trade. Company insiders have collectively bought NZ$390k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Apr 06
Consensus EPS estimates fall to NZ$0.092 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NZ$117.6m to NZ$110.1m. EPS estimate also fell from NZ$0.11 to NZ$0.092. Net income forecast to grow 366% next year vs 19% growth forecast for Pharmaceuticals industry in New Zealand. Consensus price target of NZ$4.95 unchanged from last update. Share price fell 10% to NZ$4.30 over the past week. Price Target Changed • Apr 06
Price target decreased to NZ$4.95 Down from NZ$5.81, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NZ$4.30. Stock is down 2.3% over the past year. Announcement • Apr 03
AFT Pharmaceuticals Revises Earnings Guidance for the Year to 31 March 2021 AFT Pharmaceuticals revised earnings guidance 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. Announcement • Mar 06
AFT Pharmaceuticals Signs an Exclusive Maxigesic IV Licensing Agreement for Eight New European Markets AFT Pharmaceuticals announced that it has signed an exclusive Maxigesic® IV licensing agreement for eight new European markets. The agreement, which due to COVID-19 restrictions was negotiated and sealed entirely online, is with the Lyon, France-based Aguettant. It means Maxigesic IV will now be available in 20 of the 27 EU member states, including Germany, France, Italy and Spain as well as the UK. Maxigesic IV (Paracetamol 1000mg + Ibuprofen 300mg solution for infusion) is a patented intravenous formulation developed as a line extension to Maxigesic tablets, for use post-operatively in hospitals when patients cannot take a medicine orally. In addition to Spain, Aguettant gains the rights to the medicine in the five Nordic markets (Finland, Norway, Denmark, Sweden, Iceland), Portugal, and the Netherlands. AFT expect sales of the medicine in these territories to commence in early 2022. A major Phase 3 clinical trial conducted in the USA found that Maxigesic IV provided significantly better pain relief than either paracetamol (acetaminophen) IV or ibuprofen IV alone in the same doses. Further recently completed exposure trials have demonstrated the drug's efficacy and safety in an expanded population group over a longer treatment period. Following on from the registration of Maxigesic IV in Australia and New Zealand in mid- 2019, AFT has now licensed the medication in more than 90 countries. Meanwhile, the tablet form of Maxigesic has been licensed in more than 125 countries. Is New 90 Day High Low • Feb 26
New 90-day low: NZ$4.21 The company is down 12% from its price of NZ$4.76 on 27 November 2020. The New Zealander market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NZ$12.21 per share. Is New 90 Day High Low • Jan 01
New 90-day high: NZ$5.51 The company is up 9.0% from its price of NZ$5.07 on 02 October 2020. The New Zealander market is up 14% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Pharmaceuticals industry, which is also up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NZ$12.25 per share. Announcement • Dec 16
AFT Pharmaceuticals Limited Appoints Anita Baldauf as Non-Executive Director AFT Pharmaceuticals Limited appointed Anita Baldauf as a non-executive director. The Board has determined that she is an Independent Director. Is New 90 Day High Low • Dec 15
New 90-day low: NZ$4.55 The company is down 10.0% from its price of NZ$5.07 on 16 September 2020. The New Zealander market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NZ$12.25 per share. Major Estimate Revision • Nov 26
Analysts lower EPS estimates to NZ$0.11 The 2021 consensus revenue estimate was lowered from NZ$123.8m to NZ$117.8m. Earning per share (EPS) estimate was also lowered from NZ$0.13 to NZ$0.11 for the same period. Net income is expected to grow by 444% next year compared to 21% growth forecast for the Pharmaceuticals industry in New Zealand. The consensus price target was lowered from NZ$5.81 to NZ$5.75. Share price is down by 9.0% to NZ$4.73 over the past week. Analyst Estimate Surprise Post Earnings • Nov 20
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 21%, compared to a 43% growth forecast for the Pharmaceuticals industry in New Zealand. Announcement • Nov 18
AFT Pharmaceuticals Limited Appoints Eddie Townslie as the Local Director of AFT Pharmaceuticals Europe AFT Pharmaceuticals Limited has appointed Eddie Townslie, an experienced pharma executive, as the local director of AFT Pharmaceuticals Europe. Mr. Townslie is also Managing Director of Ireland's JED Pharma, which has been appointed the distributor of Maxigesic IV® in Ireland. Prior to his current role Eddie was Export Director at diversified Irish pharmaceutical group Pinewood Healthcare. 