Shield Therapeutics shares up on strong October sales

(Alliance News) - Shield Therapeutics PLC on Thursday said it remains on track to meet its ...

Alliance News 21 November, 2024 | 2:22PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Shield Therapeutics PLC on Thursday said it remains on track to meet its full-year revenue covenant target following strong sales of its iron deficiency treatment.

The Newcastle-based commercial-stage pharmaceutical company reiterated its target of USD31.5 million in revenue for financial 2024.

Shield Therapeutics reported "strong" sales in October, driven by its iron deficiency treatment ACCRUFeR, with the net selling price rising to over USD225 per prescription, up from USD167 in the third quarter.

Shares in Shield Therapeutics were up 8.4% at 2.90 pence in London on Thursday afternoon.

The company also announced that its Chinese pharmaceutical partner, Jiangsu Aosaikang Pharmaceutical Co Ltd, has completed recruitment for a phase three confirmatory study in China, a necessary step toward filing a new drug application in 2025.

The study, which focuses on patients with inflammatory bowel disease and iron deficiency anaemia, is the final requirement to support the commercialization of ACCRUFeR in China.

Interim Chief Executive Officer Anders Lundstrom said : "We are delighted that our partner, ASK, has completed recruitment into the confirmatory phase three study that will support the filing in China to commercialise ACCRUFeR. In addition, solid growth of ACCRUFeR revenues in October give us a promising outlook for the rest of the fourth quarter, leaving us on track to meet our 2024 group revenue covenant target and market expectations for the year."

By Eva Castanedo, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Shield Therapeutics PLC 2.95 GBX 10.28 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures