Proactive Group

Investor Update: Shield Therapeutics targets $1bn US market after FDA approves Feraccru

Top stories from the Proactive Investors UK newsroom.

Shield Therapeutics (LON:STX) has been given approval by the US Food and Drug Administration to sell its lead product Feraccru as a treatment for iron deficiency in adults. The US prescription market for iron replacement therapy is believed to be worth over US$1bn a year.

Motif Bio (LON:MTFB), meanwhile, has been given a date to meet with the FDA to discuss a new clinical study for its antibiotic iclaprim. The in-person meeting has been scheduled for 19 September.

Block Energy (LON:BLOE) has resumed production at the 16aZ well at its flagship West Rustavi field in Georgia.  Production is now running at an average 360 barrels per day

Minds + Machines (LON:MMX) has started its £1mln share buyback programme. The internet registry flagged its intention to buy back shares when it published an upbeat trading statement last week.

Vodafone is to split off its mobile tower business into a separate company that might list. TowerCo comprises 61,700 towers in ten countries and makes underlying profits of €900 million.

Google-owner Alphabet’s second quarter revenue and earnings both beat market expectations, easing concerns about the short-term growth challenges in the face of antitrust investigations.

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