Adherium’s FY16 sales of A$2.6m were 7% below expectations, likely due to a pause in commercial supply to AstraZeneca (AZN) in H216 as the pharma used inventory purchased in CY15 for initial market testing. The net loss of A$7.9m included A$1.4m of one-off costs. We have amended near-term forecasts to allow for a slower initial roll-out by AZN, but leave peak uptake assumptions unchanged given the large addressable market. We have also trimmed forecast profit margin by 20% for second-ge
06 Oct 2016
Commercial roll-out still at pilot stage
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Commercial roll-out still at pilot stage
Adherium Ltd. (ADR:ASX) | 0 0 5.9% | Mkt Cap: 15.7m
- Published:
06 Oct 2016 -
Author:
Dr Dennis Hulme -
Pages:
8
Adherium’s FY16 sales of A$2.6m were 7% below expectations, likely due to a pause in commercial supply to AstraZeneca (AZN) in H216 as the pharma used inventory purchased in CY15 for initial market testing. The net loss of A$7.9m included A$1.4m of one-off costs. We have amended near-term forecasts to allow for a slower initial roll-out by AZN, but leave peak uptake assumptions unchanged given the large addressable market. We have also trimmed forecast profit margin by 20% for second-ge