Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF)'s full-year results, where the company reported a trebling of total revenues, were consistent with a recent first-quarter business update, said broker Peel Hunt.
Analysts highlighted the company’s strengthened balance sheet with a $10 million financing from Sallyport Commercial, supplementing its existing $20 million debt facility.
The company also addressed a recent issue with its data provider, which had been overstating historical prescription volumes for Accrufer. Shield has now implemented a multisource system to rectify this issue.
“This issue, highlighted at another recent trading update in February, where a third-party data provider had been overstating historical prescription volumes for Shield’s Accrufer asset, led us to move to Under Review. We will now work with the company to update our forecast model,” noted Peel Hunt.