Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) saw its shares jump 13% following an encouraging trading update.
The company's main product, Accrufer, an iron deficiency treatment, has been paired up with Viatris for commercialisation.
According to Shield's corporate broker, finnCap, while the 2022 revenue was slightly below expectations, the real focus for the company and its investors will be its progress in the next three years.
It noted: "We see 2023 as a year where both Shield and Viatris will generate substantial momentum behind Accrufer, with the benefits of their efforts expected to materialise in 2024 and 2025."
The shares of Shield Therapeutics rose from 0.68p to 6.93p, with finnCap valuing the stock at 68p.