Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) said 2021 revenues will be in line with expectations at £1.5mln as it made the first sales of its breakthrough drug for iron deficiency.
America is the key thrust for the group as it looks to roll out its ferric maltol product, which is known as Accrufer in the States and Feraccru elsewhere.
The trading update revealed awareness of the low-dose oral iron replacement in the US had doubled to 65%.
At the same time, 2,500 prescriptions for Accrufer have been fed since launch into Shield’s patient assistance and reimbursement hub.
Significant growth was seen in the second and third quarters, investors were told.
"Our priorities for the US launch of Accrufer were to increase awareness, generate clinical experience, and expand payer coverage, and we have made significant progress across each of these priorities." said Shield chief executive, Greg Madison.
"We have been very pleased by the initial feedback and reactions of healthcare providers to Accrufer, and it is clear there is a need for an effective and well tolerated oral iron therapy for the millions of patients with iron deficiency.
Well financed, the company was sitting on £12.1mln at the end of 2021.