Latest news with #BrianWard
The Australian
4 days ago
- Business
- The Australian
Long Shortz: Aroa Biosurgery
Tylah Tully chats with Aroa Biosurgery (ASX:ARX) founder and CEO Brian Ward on the company's FY25 results, posting its first profit since listing on the ASX in 2020. The company had a strong year, reporting total revenue of NZ$84.7 million, 23% growth on FY24. In particular, Myriad™ notched just over NZ$32 million in product revenue, 38% growth on the previous financial year. Watch the video to hear Ward's insights. This video was developed in collaboration with Aroa Biosurgery, a Stockhead client at the time of publishing. The interviews and discussions in this video are opinions only and not financial or investment advice. Viewers should obtain independent advice based on their own circumstances before making any financial decisions.
Herald Sun
5 days ago
- Business
- Herald Sun
Long Shortz: Aroa Biosurgery
Tylah Tully chats with Aroa Biosurgery (ASX:ARX) founder and CEO Brian Ward on the company's FY25 results, posting its first profit since listing on the ASX in 2020. The company had a strong year, reporting total revenue of NZ$84.7 million, 23% growth on FY24. In particular, Myriad™ notched just over NZ$32 million in product revenue, 38% growth on the previous financial year. Watch the video to hear Ward's insights. This video was developed in collaboration with Aroa Biosurgery, a Stockhead client at the time of publishing. The interviews and discussions in this video are opinions only and not financial or investment advice. Viewers should obtain independent advice based on their own circumstances before making any financial decisions. Originally published as Long Shortz with Aroa Biosurgery: ARX shears first profit in FY25
News.com.au
6 days ago
- Business
- News.com.au
Health Check: Aroa's ‘hero' product propels the wound management house back into black
Aroa shares surge 13% after the company's full-year results exceeded guidance New wound management IPO does the rounds for $35 million Inoviq shares vault up to 58% on early cancer light therapy results Kiwi-based wounds management house Aroa Biosurgery (ASX:ARX) has exceeded its recent revenue and earnings guidance, after a robust second half on the back of its 'hero' Myriad product range. Aroa's revenue came in at NZ$84.7 million for the year to March 2025, 23% higher and slightly above the NZ$81-84 million range the company guided to in late April. Normalised earnings before interest tax depreciation and amortisation (ebitda) were NZ$4.2 million, compared with the previous NZ$3.1 million loss. Once again, the number was a tad above the guided range of NZ$2-4 million. Aroa has also guided to current-year revenue of NZ$92-100 million, 10-20% higher year on year, with ebitda of NZ$5-8 million. CEO Brian Ward stresses the company's 'star product' Myriad has been delivering the goods, with sales up 35%. Myriad is used for complex wounds including trauma and lower limb salvage. Sold via Aroa's partner TELA Bio, sales of its hernia and breast reconstruction tool Ovitex rose 22% Sales of the Endoform wound dressing were flat, as expected. Expanding indications Ward said the company would focus on expanding indications for its products, which are biological materials sourced from ovine intestines. This push is being supported by several clinical studies, such as a lower limb salvage study trial that resulted in quick healing with no complications. 'That's quite different to what we have seen with other technologies,' he says. However, Aroa has 'paused' the rollout of its Symphony product, for hard-to-heal wounds such as diabetic ulcers. This is because the company has won inpatient reimbursement in the US, but not coverage for physicians. The company plans a supportive trial to win full reimbursement. 'The rules are changing and only products with randomised, controlled trials will be reimbursed,' Ward says. 'This will take many rivals out of the market.' Aroa has product approvals across 50 countries, but almost all its revenue derives from the US. CFO James Agnew said the US tariff impact on the company was likely to be around NZ$1.5 million, or around 1% of revenue. Because of transfer pricing arrangements between TELA Bio and Aroa's own US entity, that's far less than the blanket 10% rate Uncle Sam levies on NZ goods. New wound play does the IPO rounds Still on wound management, Tetraherix is defying the barren IPO biotech landscape with a $35 million raising to advance its novel tools for applications including tissue healing, bone regeneration and surgical spacing. Invented by chemical engineer and University of Sydney researcher Dr Ali Fathi, the platform-based tech is the world's first 'biostealth fluid matrix'. Supplied in ready-to-use syringes, the polymer is injected into the relevant anatomy and sets to a 'chewing-gum' consistency that can be easily moulded to suit the application. Eventually, the material breaks down into water and carbon dioxide. Pending expected US Food and Drug Approval, the company hopes to bring its first products to market in the first half of 2026. These are for dental applications and bone regeneration and orthopaedic uses. The company also has tools in the pipeline for scar prevention during surgery and a prostate surgery 'spacer' to protect surrounding tissue (such as the rectum) during radiation therapy. Doing the rounds Joint lead managers Morgans and Barrenjoey are undertaking the institution round which closes next Tuesday, with a limited retail offering open until June 17. The company is expected to list in late June. The shares are offered at $2.88 a pop, amounting to a $155 million market cap and a $115 million enterprise value (allowing for cash on hand). The founder of 'cloud' accounting software giant Xero, Rod Drury is a notable investor. Invion lights up on skin cancer trial The developer of photodynamic therapies (PTDs) for cancers, Invion (ASX:IVX) has passed the initial safety test for its phase I/II non-melanoma skin cancer trial, being carried out in Queensland (of course). A safety review committee found no 'adverse events' among the first treated patients, who were administered Invion's candidate INV-043 as an ointment. What's more, 'early indications show an observable reduction in the lesion size after a single treatment cycle'. Clinician feedback shows patients did not experience any pain during the treatment, 'which compares favourably to currently approved PDT treatments.' By combining oxygen and light, PTDs are known to kill malignant cells and shut down tumors. Known about for more than a century, the science is supported by more than 500 trials. That said, it's been an overlooked area of oncology and Invion is the only listed exemplar. Invion now is proceeding to the second stage of the adaptive trial, which involves dose optimalisation. Meanwhile, the safety data will influence the company's upcoming phase I/II trial for ano-genital cancer, in alliance with the Peter MacCallum Cancer Centre. Known for wild movements, Invion shares soared up to 58% this morning. Inoviq share freeze highlights disclosure dilemmas A quirky aspect of clinical results is they are not validated until they are presented in a prestigious peer-reviewed publication, or a conference of luminaries. Typically, a company will post top-line results earlier and this can lead to investor confusion about what's new and what's merely additional info for the boffins. On Monday, the ASX suspended share trading in cancer drug developer Inoviq (ASX:IIQ) and queried why the company's shares soared 25%, from 37 cents on Wednesday May 21, to last Friday's high of 46.5 cents. Inoviq yesterday pointed to an abstract poster presentation for an upcoming American Society of Clinical Oncology (ASCO) conference published online. This outlined 'the background, methods, results and conclusions underpinning the high-level results' of an independent patient validation study of the company's ovarian cancer test. The results of the blood test were 'outstanding', with more than 94% accuracy. Hold the front page! Okay, let it go: the guts of the results were outlined on December 3 last year – and referred to in subsequent ASX disclosures. Inoviq says: 'some shareholders may have missed or misunderstood the significance of and may believe the abstract contains new or better information, which is materially price sensitive.' The company believes that was not the case and did not 'announce' the abstract to the ASX. Fair enough! After all, there's nothing more frustrating than companies hyping up presentations that contain no genuine news. In old tabloid terms it's known as a Bamix job: a beat up. But like all good tabloid yarns, there's a twist: Inoviq will present further trial information that is price sensitive, to the ASCO powwow in Chicago on Sunday. This prezzo is under embargo until that day and Inoviq plans to announce the 'tightly held' information first thing on Monday. In the meantime, it's best the shares remain untradeable.
News.com.au
29-04-2025
- Business
- News.com.au
Health Check: We're a goer says Aroa, with US tariffs unlikely to be a ‘major headwind'
Aroa says the real impact from the 10% US tariff imposed on New Zealand goods will be much less than that Quarter time scores show companies are kicking with the wind Dimerix shares enter trading halt ahead of licensing deal Kiwi wounds management house Aroa Biosurgery (ASX:ARX) says it expects the US tariff imposed on its products will be 'substantially less' than the 10% general duty imposed on New Zealand. At Aroa's fourth quarter results briefing this morning, CEO Brian Ward said that's because of the company's tie-up with its US distributor, the Nasdaq-listed Telabio. Aroa makes its biologic products from the stomach foreskin of sheep – in NZ of course. 'Due to the commercial arrangement with Telabio - particularly in terms of how pricing and cost sharing works – we expect the net impact of this will be substantially lower than 10%,' he said. 'Don't feel this is going to be a major headwind for us in the coming year.' Selling mainly in the US, Aroa reported positive cash flow of NZ$1.1 million, on customer receipts of NZ$20 million (11% higher year-on-year). This is the second consecutive quarter of positive cash flow, with Aroa reporting a $1.2 million surplus in the December stanza. The company has reiterated revenue guidance of NZ$81-84 million for the full year to March 2025 – up 17-22% – with underlying earnings of NZ$2-4 million. 'We are finishing the year in a strong position,' Ward said. Management highlights sales of its key product Myriad, with sales up 32% on a pcp basis for the quarter. Sales for the month of March were also a record NZ$2 million. Myriad is used for general soft tissue reconstruction, and is utilised in a wide range of procedures, and increasingly for trauma. Distributed via Telabio, sales of Ovitex (for hernia and breast reconstruction) gained 17% year-on-year. This improvement comes despite difficult conditions for Telabio, which faces sales headwinds and stiff competition. This is reflected in the company's share price decline over the last year. Ward says Telabio has had up quarters and down quarters, which is not unusual. 'Over the last quarter we have seen good demand from Telabio.' He says that if Telabio weren't to remain viable, 'Aroa is well placed to be part of whatever takes place there.' Aroa will provide more detail on its performance when it releases its full-year numbers in May. Quarter-time scores Quarterly reports are flooding in like tardy voters to the polling booths just before Saturday's 6pm close. Artrya (ASX:AYA) says it is cashed up and ready to start selling its heart device Salix Coronary Anatomy, having recently won US Food and Drug Administration (FDA) clearance for the AI-enabled tool. Locally, Artrya secured three-year commercial contracts with Sonic Healthcare's local radiology arm, a well as Lumus Healthcare. Following a $15 million two-tranche placement, Artrya has $17 million in the bank, having burnt $4.6 million for the quarter. Salix Coronary Anatomy detects coronary artery disease. The company is also preparing a variant, Salix Coronary Plaque, for an FDA approval submission. This is a reference to thousands of doctors walking off the job over a government plan to increase medical student numbers – a measure the docs claim will not alleviate the nation's health crisis. The company had $780,000 of operating cash outflows. Shares in Medical Developments International (ASX:MVP) rocketed by more than 30% this morning after the company reported a 7% revenue improvement to $8.9 million. This was on the back of improved pricing and volumes for its key product Penthrox. A.k.a. the 'green whistle', the long-standing Penthrox is a front-line analgesic for temporary pain relief. The company recorded operating cash flow of $900,000, a turnaround on the big improvement on the deficit of $10.4 million a year ago. That's clever Formerly LBT Innovations, Clever Culture Systems (ASX:CC5) yesterday recorded a more than 700% surge in March quarter receipts to $2.14 million. The company has developed an automated plate assessment system (APAS) for labs – a welcome innovation at a time of acute pathologist shortages. Clever Culture also recorded positive cash flow of a tad over $1.1 million, its second consecutive quarter in the black. The company cites a sales pipeline of more than 40 'active and qualified customer opportunities', amounting to about $75 million in potential upfront sales revenue and $15 million per annum of recurring revenue. Cash flow was a positive $1.86 million. This revenue resulted from the manufacturing and wholesaling of medical pot and the psychedelic MDMA (a.k.a. Ecstasy), on the part of its subsidiary Breathe Life Sciences Receipts for the nine months surged 202% to $21.8 million Bioxyne's cash rose to $6.5 million compared to $750,000 previously. Bubs results are nothing to bleat about A purveyor of goat's milk-based infant formula, Bubs Australia (ASX:BUB) sneaks into the 'life sciences' category by a chin hair's width. The hitherto troubled Bubs showed a second consecutive positive cash flow of $500,000, compared worth a $10.9 million deficit a year ago. Revenue surged 52% to $23.2 million, with sales in its traditional Chinese market and new US market growing 48% and 185% respectively. In 2022, then US prez joe Biden praised Bubs for helping to fill a critical shortage of infant formula. But the glowing endorsement from the Commander in Chief did little to help founder Kristy Carr, who was ousted in acrimonious circumstances in 2023 Dimerix in suspense over licensing deal Dimerix (ASX:DXB) shares today entered trading halt pending news of a licensing agreement – presumably a geographic-based one. The kidney drug developer's shares soared in October 2023, after the company unveiled a tie-up covering Europe, Canada, Australia and New Zealand. This compact, with the UK-based Advanz Pharma, delivered $10.8 million upfront, $219 million of potential milestones and royalties. In May last year the company struck a deal with Taiba, for Iraq and the Gulf Countries. They're relatively small markets, but the deal delivers another $120 million of potential milestones. In January this year a Japan deal with Fuso delivered another $7.2 million upfront and $100 million of potential milestones. The missing link, of course, is the US and mainland China. In early April management said the company was discussing coverage of these geographies with potential partners. The shares are due to go off trading halt on Thursday, so presumably we will know more then.
Arabian Business
31-03-2025
- Business
- Arabian Business
Saudi Arabia's Scopely buys Pokémon Go-maker Niantic Labs for $3.5bn
A Saudi-owned gaming giant has bought the maker of Pokémon Go and other popular games for $3.5bn. Scopely, backed by Saudi Arabia's Savvy Games, has acquired Niamtic Labs in a deal worth $3.5bn. The deal for the leading mobile games company in the US is the latest blockbuster gaming investment by the Kingdom. Saudi Arabia buys Pokémon Go It will bring Niantic's catalogue of games, including Pokémon Go, Pikmin Bloom and Monster Hunter Now into Scopely's portfolio. The purchase of the makers of one of the biggest gaming hits of the past ten years will advance Saudi Arabia's ambitions to become the ultimate global hub for gaming. Saudi-backed Savvy Games snapped up Scopely for a reported $4.9bn in 2023 and the latest acquisition strengthens its portfolio. As one of the most successful mobile games of all time, Pokémon GO continues its success today. The game reaches players in over 190 countries and regions. The franchise has amassed more than $8bn in lifetime revenue. By enabling Scopely to acquire Niantic's games business, Savvy is accelerating its strategy to become a global cross-platform, multi-franchise, live services leader, driving the long-term growth of the global games and esports industry. Brian Ward, CEO, Savvy, said: 'This acquisition is another example of how Savvy is supporting Scopely in accelerating its goals, underlining Scopely's position as one of the most influential players in games today. 'The games, apps, and live experiences the team are set to bring on board are an excellent fit for Scopely, further diversifying their already well-developed slate. Niantic's 'Pokémon GO' and Scopely's 'MONOPOLY GO!' achieved two of the biggest mobile launches of the last decade, and it's exciting that two of the top 10 mobile franchises in the world will now be within the Scopely portfolio. 'Scopely is a highly respected custodian of much-loved IP, and will bring a wealth of experience to the Niantic games business.' Tim O'Brien, Chief Revenue Officer and Board Member, Scopely, said: 'Savvy enables us to go after our long-term big ambitions, like transformative M&A, by providing ongoing support to pursue transactions of this magnitude. 'This transaction represents one of the largest games deals made by a private company in the last decade, ranking alongside Scopely's own acquisition by Savvy in 2023 for $4.9bn. 'Scopely has done many acquisitions in its 13-year history, representing billions of dollars-worth of deals – from world-class games studios to groundbreaking games – and we look forward to formally welcoming the Niantic games teams to the Scopely ecosystem.'
