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Opinion

AFT's disclosure lacks candour despite chair's pedigree

Jenny Ruth
Mon, 12 Apr 2021

AFT's disclosure lacks candour despite chair's pedigree
AFT Pharmaceuticals chair David Flacks has a strong background in regulation and governance.
Jenny Ruth
Mon, 12 Apr 2021
It's hard to fathom that AFT Pharmaceuticals' management and board only realised late on the company's balance date that it was going to miss its earnings guidance by as much as 50%.Founder and managing director Hartley Atkinson assured BusinessDesk that is what happened.AFT has two distinct revenue streams. Licensing agreements and milestone payments are by nature lumpy, and it's easy to understand that Atkinson and his team may have been expecting deals to be signed by March 31, only to see the timing slip a couple of weeks or...

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