Shield Therapeutics PLC's (AIM:STX, OTCQX:SHIEF) share price rose 8% following the announcement of successful phase III trial results for its iron deficiency treatment, Accrufer, which could pave the way for its use in children.
The UK-based speciality pharmaceutical company reported that the oral drug, known scientifically as ferric maltol, showed significant efficacy and safety in paediatric patients aged 2 to 17, with an average haemoglobin increase of 1.25 g/dL over 12 weeks.
The trial, which also demonstrated higher results in infants, marks the completion of Shield’s development programme.
The company plans to seek approval for use in children older than one month in Europe and the US by mid-2025.
Shield also expects a €1 million milestone payment from partner Norgine, contingent upon European Medicines Agency approval.
City broker Peel Hunt said: "We believe there is little doubt about the unmet need for Accrufer, with 20 million patients in the US alone having anaemia.
"Market traction is now very much a function of continued focus and investment in marketing and commercialisation."
In early deals, the stock was up 0.3p at 3.9p.