London - Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru/Accrufer (ferric maltol), provides a business and unaudited trading update for the year ended 31 December 2020.
Operational highlights
Feraccru 2020 sales volumes in Europe increased by 70% year-on-year
China IND application submitted
First stage of paediatric study plan completed
Teva challenge to Shield's European patents withdrawn
Shield continues to evaluate options for launching Accrufer in the US
US partnering discussions remain ongoing with a number of parties
Financial highlights
Trading for the year was in line with market expectations
Revenues for 2020 expected to be GBP9.4 million (2019: GBP0.7 million)
Cash position as at 31 December 2020 was GBP2.9 million (2019: GBP4.1 million)
Shareholder loan facilities provide means to extend cash runway until late 2021
Contact:
Tim Watts
Tel: +44 (0)20 7186 8500
Web: www.shieldtherapeutics.com
About Shield Therapeutics plc
Shield is a de-risked, specialty pharmaceutical company focused on commercialising its lead product, Feraccru/Accrufer, a novel, non-salt based oral therapy for adults with iron deficiency with or without anaemia. Feraccru/Accrufer has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. Feraccru is commercialised in the UK and European Union by Norgine B.V. and the Company is currently in the process of evaluating commercialisation options for the US market, including the potential launch of Accrufer in the US by Shield. Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru/Accrufer in China, Hong Kong, Macau and Taiwan.
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