Business
Business and trading update
Business and trading update.
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7763L\n Shield Therapeutics PLC\n 15 January 2021\n \n \n \n \n \n \n \n Shield Therapeutics plc\n \n \n (\"Shield\" or the \"Group\" or the \"Company\")\n \n \n \n \n \n Business and trading update\n \n \n \n \n \n \n London, UK, 15 January 2021:\n \n Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), provides a business and unaudited trading update for the year ended 31 December 2020.\n \n \n \n \n \n Operational highlights\n \n \n \n · \n Feraccru® 2020 sales volumes in Europe increased by ~70% year-on-year\n \n \n · \n China IND application submitted\n \n \n · \n First stage of paediatric study plan completed\n \n \n · \n Teva challenge to Shield's European patents withdrawn\n \n \n · \n Shield continues to evaluate options for launching Accrufer® in the US\n \n \n · \n US partnering discussions remain ongoing with a number of parties\n \n \n \n \n \n \n Financial highlights\n \n \n \n · \n Trading for the year was in line with market expectations\n \n \n · \n Revenues for 2020 expected to be £9.4 million (2019: £0.7 million)\n \n \n · \n Cash position as at 31 December 2020 was £2.9 million (2019: £4.1 million)\n \n \n · \n Shareholder loan facilities provide means to extend cash runway until late 2021 \n \n \n \n \n \n \n Business update\n \n \n \n \n \n US commercialisation\n \n \n As reported in December 2020, we are currently evaluating both out-licensing and Shield-led alternatives for the launch and commercialisation of Accrufer® in the US. Discussions are ongoing with a number of potential out-licencing partners. Preparation of a Shield-led launch is being led by a US commercial team comprising four managers who have extensive experience of launching and commercialising multiple pharmaceutical products in the US. The work in the US is well advanced and covers preparations for all activities and organisational matters which will be implemented quickly should we decide to launch Accrufer® ourselves including the supply chain, pricing and market access, selling and marketing, and regulatory compliance. Discussions are also taking place with several companies which could co-promote or sub-license Ac...