Shield Therapeutics PLC (AIM:STX, OTCQB:SHIEF) saw its share price rise 21% following a strong second-quarter trading update.
The company reported that net revenues from its iron deficiency treatment, ACCRUFeR, doubled to $12.8 million, up from $6.4 million in Q1.
Prescriptions increased to approximately 47,000, while the average net selling price rose to $231 from $187 in the previous quarter.
Cash and cash equivalents remained healthy at $10.8 million, supported by milestone payments linked to licensing agreements in Japan and Europe.
CEO Anders Lundstrom highlighted the company’s growing market momentum and reiterated confidence in achieving positive cash flow by the end of 2025.
Shield and partner Viatris aim to establish ACCRUFeR as the preferred oral iron treatment for patients with iron deficiency, with or without anaemia, as adoption continues to gain pace.
Cavendish said of the update: "We maintain our forecasts during this period and consider the execution to date (and the continued tracking towards its prior guidance of turning cash flow positive by the end of 2025), as highly reassuring."
The broker reiterated its 23p price target, Peel Hunt says 'buy' up to 15p.
"This is a tidy trading statement and we are encouraged by new management establishing its grip on the business in relatively short order (macro headwinds aside)," Peel added.
The stock rose 0.74p to 4.29p, valuing the business at £44 million.