Shield Therapeutics - Focus on increasing US market access
Shield Therapeutics’ (STX) value stems from Accrufer’s US market opportunity as the company seeks to maximise returns through self-commercialisation. Recent progress on payer coverage and prescription uplift bodes well for future US expansion, although we expect a more modest growth trajectory than previously as STX focuses on expanding market outreach. The successful execution of its commercial plans relies on adequate fund-raising, which remains challenging in the current macro environment. The recent $10m convertible shareholder loan extends the cash runway into early FY23, but a further £25m would be required to break even, according to our estimates. We have introduced more conservatism in our estimates and as a result our valuation resets to £371.0m or 172p/share (previously £631.3m or 293p/share).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.
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.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.