Report

Shield Therapeutics - FDA approval attained, sales execution now key

Shield Therapeutics’ primary asset, Feraccru, has been approved by the FDA for the treatment of iron deficiency in patients with any underlying cause – the broadest possible label. It will be marketed in the US as Accrufer. This is upside to our previous assumptions and increases our peak sales potential to c$420m (vs c $250m previously). Successfully commercialising Feraccru/Accrufer through partners is now key to Shield realising its value. We expect Shield to out-license the US rights during the next 18 months. An upfront licensing payment would extend Shield’s cash reach beyond our current forecast of H220. We now value Shield at £273m.
Underlying
Shield Therapeutics

Shield Therapeutics is a specialty pharmaceutical company focused on the development and commercialization of late stage, hospital-focused pharmaceuticals which address areas of high unmet medical need. Co.'s key products are Feraccru®, commercially available for the treatment of Iron Deficiency Anaemia, and PT20, for the treatment of systemic phosphate accumulation (otherwise known as hyperphosphatemia). Co. has an additional pipeline of three prescription pharmaceutical assets (PT20, PT30 and PT40) with commercial synergies.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Susie Jana

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