Business
Unaudited Q2 2024 Trading Update
Unaudited Q2 2024 Trading Update.
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n\n \nShield Therapeutics plc\n(\"Shield\" or the \"Company\" or the \"Group\")\n \nUnaudited Q2 2024 Trading Update\n \nACCRUFeR® US Net Revenues of $6.9m following 26% Increase in Q2 Prescriptions\n \n23% sequential increase in average net selling price to $171/prescription \n \nIncreased balance sheet and operational flexibility with $8.1 million cash on hand plus $5.7 million from the China milestone monetization announced post period end\n \nLondon, UK, July 24 2024: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company that delivers ACCRUFeR®/Feraccru® (ferric maltol), an innovative and differentiated specialty pharmaceutical product, to address a significant unmet need for patients suffering from iron deficiency (with or without anaemia) today announced a Q2 2024 trading update highlighting a strong recovery in U.S. ACCRUFeR® growth.\n \nShield delivered stand-out sequential ACCRUFeR® revenue growth results of 69% in Q2 2024, driven by robust increases in prescriptions, up 26% along with a 23% increase in average net selling price per prescription. This has resulted in total H1 2024 ACCRUFeR® revenues of $11 million (unaudited) and total prescriptions to 65,200, which represent significant increases of ~250% and ~160% respectively compared to H1 2023.\n \nSnapshot of Positive Q2 2024 ACCURUFeR® Key Performance Indicators (KPIs)\n· Total Net Sales: $6.9 million, an increase of 69% vs. Q1 24 and 259% vs. Q2 23\n· Total Prescriptions: -Over 36,400, an increase of 26% vs. Q1 24 and 145% vs. Q2 23\n· Average net selling price per prescription: $171 vs. $139 in Q1 2024 and $118 in Q2 2023\n· Cash and cash equivalents: $8.1 million as of 30 June 2024 excluding the $5.7 million funding from the China milestone monetization announced on July 3, 2024\n \nShield's new Interim Chief Executive Officer Anders Lundstrom commented: \"I am excited about stepping in as the interim CEO and continue to build on the strong performance we delivered in the 2nd quarter of 2024. Large states such as California, NY, and Florida continue to drive a significant portion of the increase in prescriptions, while Texas begins to rebound. Our efforts on the operational side also showed outstanding progress...