AFT's disclosure lacks candour despite chair's pedigree

AFT Pharmaceuticals chair David Flacks has a strong background in regulation and governance.

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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