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Shield Therapeutics PLC takes bold approach in the US

Last updated: 08:07 21 Feb 2024 GMT, First published: 15:34 11 Mar 2021 GMT

Snapshot

  • Shield Therapeutics hails breakthrough year
  • Shield Therapeutics: A case of cautious optimism amid revised guidance
  • Shield Therapeutics is "bearing fruit", says Cavendish
  • Shield Therapeutics "couldn't be more pleased" with Viatris collaboration
Shield Therapeutics PLC -

About the company

Shield Therapeutics PLC is a commercial-stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol).

The group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand.

Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co in the Republic of Korea, and with KYE Pharmaceuticals in Canada.

How it is doing

21 Feb 2024

Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) delivered a nearly three-fold increase in its revenues and revealed a strong bank balance as it said it aimed to be cash flow positive in the second half of next year.

It ended the year with total sales of $17.5m, up from $6.2m 12 months earlier, buoyed by strong demand for its iron deficiency product, Accrufer, the average selling of which increased by 21% to $145 per prescription. Shield ended 2023 with cash of $13.9m.

A generally upbeat statement did come with one caveat: Errors in third-party data reporting have led to a revision in prescription forecasts. Total prescriptions were 77,000.

 "The progress made in the market in 2023 has shown us that the opportunity for Accrufer continues to be significant," said CEO Greg Madison.

07 Dec 2023

Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF), the commercial-stage specailist pharma company known for its Accrufer iron deficiency treatment, saw significant growth in the US market in the third quarter - pointing to increasing demand and market acceptance of the product.

Net sales for the period were US$4.1 million while the selling price reached US$148 per prescription, a 24% rise compared to the first half of the year.

23 Nov 2023

With the growth in popularity of Shield Therapeutics PLC's (AIM:STX, OTCQX:SHIEF) Accrufer prescription iron medicine, Stifel has initiated coverage with a 'buy' rating on the company.

Accrufer, which is prescribed treats iron deficiency and anaemia, has seen a "dramatic" acceleration in prescription and sales growth since being launched in mid-2021 and following last December's co-promotion agreement with Viatris that increased the promotional field force in the US from 22 reps to 100 now.

Insight: Shield Therapeutics: A case of cautious optimism amid revised guidance

03 Oct 2023

Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF), which has developed a best-in-class anaemia treatment, has been going through the growing pains associated with a business at the formative stage of its commercial journey. While management has revised prescription volume guidance for its key product, Accrufer, for 2023 downwards, the market should not be too hasty in its judgement, according to a note from analysts at Proactive Research.

The revised guidance estimates 100,000 to 130,000 prescriptions for 2023, a reduction from the previous 125,000 to 160,000 range. On the surface, this might appear as a setback. However, it's worth noting that the company's Q2 results indicate a strong sales trajectory, particularly in the US market where Shield collaborates with Viatris. The average net realised price per prescription has been affected by a high level of discounted prescriptions, but this is a challenge the company is actively addressing.

What the brokers say

13 Dec 2023

Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF)'s third-quarter trading update for Accrufer in the US market shows its tie-up with Viatris and expanded sales team are “bearing fruit”, according to analysts.  

Accrufer is a non-salt based oral therapy used to treat iron deficiency in adults.  

Analysts at Cavendish said key performance indicators such as total scrips, new scrips, retention rate, and net realised price are all showing significant improvement compared to the first half of 2023.  

What management says

03 Oct 2023

Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) CEO Greg Madison speaks to Thomas Warner after a busy week for the commercial stage pharmaceutical company, which included the release of its interim results and the announcement of a major fundraise.

He highlights the success of the fundraise, which comprised US$20 million from a new senior debt facility as well as an equity fundraise (split between a share placing, a subscription and an offering to retail investors) that brought in an additional US$6 million.

He explains that the new funding is going to be put to use in "paying off an existing loan, increasing our working capital needs and then certainly some commercial investments to accelerate the curve that we're seeing here." The curve he describes is the marked increase in demand for Shield's Accrufer product, which is a stable, non-salt based oral therapy for adults with iron deficiency that is designed to avoid some of the unwanted side-effects of conventional iron tablets.

Proactive Research

03 Oct 2023

Shield's Q2 results were broadly in line with expectations given the July trading update, but the modified guidance has led to an adjustment to market expectations for 2024-25 based on both volume and net realised price.

Shield Therapeutics' pricing will be "key metric" - Proactive Research Analyst

Proactive Research Analyst Robin Davison speaks to Thomas Warner after publishing a new research note on iron defiency-focused commercial-stage specialty pharmaceutical company Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) Davison gives an overview of what readers can expect from the note,...

on 3/10/23