Hardman & Co Research: Reassuring trading update

Shield Therapeutics (STX) is a commercial-stage company delivering specialty products that address patients' unmet medical needs, with an initial focus on treating iron deficiency (ID) with ferric maltol. Feraccru/Accrufer has achieved regulatory approvals for both Europe and the US. The company has faced some unexpected challenges recently, but has not been overly affected by COVID-19. Having negotiated a good deal for the Chinese market, STX is seeing significant interest with respect to a US commercial partner, bringing the opportunity to launch into a >$1bn market. The cash runway for STX extends into 1Q'21.

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