Drug-maker AFT to invest in its biggest-ever clinical trial after $35.6 mln IPO

Tue, 22 Dec 2015

By Fiona Rotherham Dec. 22 (BusinessDesk) - AFT Pharmaceuticals, the Auckland-based drug maker which debuted on the NZX today, will spend $8 million of the funds raised in its $35.6 million initial public offering on its biggest-ever clinical trial. The company's shares, which sold in the IPO at $2.80 apiece, jumped 11 percent to $3.12 in their debut trade on the NZX main board this morning, valuing the company at $302 million. The stock rose as high as $3.20, and was recently at $3.10. AFT was founded by Hartley Atkinson in his garage...

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