Shield Therapeutics - Next step a US partnering deal
Shield Therapeutics (STX) has provided an updated trading statement ahead of FY19 results, expected at the end of May. In its January trading update, STX had guided to FY19 revenues of £2.9m. However, this has been revised down to £0.7m with repayment of the €2.5m Norgine milestone. In Europe, Feraccru has continued to grow during Q120 in its launched countries (the UK and Germany), and STX has reported minimal COVID-19 disruption to its commercial progress and manufacturing supply chain to date. The company reported an unaudited cash balance of £11.3m at 31 March. The next key inflection point is a US partnering deal, and STX has been able to advance discussions with potential commercial partners in recent weeks. We expect Accrufer launch later this year once a partner has been found.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.
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