AFT Pharmaceuticals unveils double digit revenue growth in 1H FY27

• On track to reach $300 million FY27 revenue target
• All divisions showing double digit revenue growth in 1H FY27
• Maxigesic IV out-licensed in Japan and the Philippines
• R&D pipeline progress including novel iron injectable product study

AFT Pharmaceuticals (ASX: AFP) has achieved sustained double-digit revenue growth for 1H FY27 and remains on track to deliver its FY27 guidance.

The company confirmed it is set to meet both its $300 million revenue target and the operating profit guidance of $28 million to $32 million.

“We are pleased with our half year sales progress and the ongoing advances we have made to extend our global footprint with Maxigesic IV out-licensing agreements in both Japan and the Philippines and good progress with our R&D development pipeline. We are looking to the remainder of the financial year with confidence,” MD Dr Hartley Atkinson said.

Dr Atkinson also noted that StablePharma, AFT’s UK/Spanish R&D partner for developing fridge-free medicines, has achieved further validation for its technology, with positive results from its own first-in-human study for vaccines published in The Lancet, one of the world’s leading medical journals.

The milestone strengthens the commercial case for a technology that promises to simplify both vaccine and medicine distribution, reduce wastage, save costs and improve access to vaccines and medicines.

Dr Atkinson also highlighted AFT’s continued strengthening of its product pipeline.

This includes Scomara, with AFT achieving its third US FDA approval for a patented product with tentative approval for the treatment of Facial Angiofibromas in Tuberous Sclerosis.

Scomara offers competitive advantages over a current product (ambient temperature storage and once-a-day application) and little regulatory or R&D risk, and represents a significant opportunity for AFT in the world’s largest pharma market and further afield.

Elsewhere, AFT has forged agreements in two new Asian markets with the out-licensing for Maxigesic IV. The agreements have been reached with Japan’s MIKASASEIYAKU CO., and to Indonesia’s Kalbe Farma for the Philippines. Japan is the world’s third-largest pharma market, offering significant potential upside following the generation of additional Japanese patient clinical data.

AFT has also successfully completed a 240-patient clinical study to demonstrate therapeutic equivalence for an OTC product which will enable regulatory filings in the key Australian market.

AFT is undertaking a 1,366-patient study of its novel injectable iron product, iFeramyl IV, with the first trial centres now commencing. The study is planned to include sites from New Zealand, Armenia, India, China, Korea, Japan, the US and Europe. The novel iron product offers AFT entry into a market worth as much as US$7.4 billion by 2033, with the first launch expected by the end of 2029 calendar year.

AFT is backing the R&D work with a forecast budget for FY27 of between $23 to $25 million.

The company’s global R&D pipeline of eight drugs continues to advance.

AFP was steady at $3.50 with a Mkt cap of $367.0M prior to markets opening.

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