Shield Therapeutics Plc · LSE:STX
Shield Therapeutics — FY2022 Earnings Presentation
33 slides from Shield Therapeutics's earnings presentation, Apr 27, 2023
Slide 1: 2022 Final Results and Q1 2023 Update
2022 Final Results and Q1 2023 Update Corporate Presentation 27 April 2023
Slide 2: Disclaimer
Disclaimer These slides have been prepared by Shield Therapeutics plc (the "Company") solely for your information and for use at a presentation for the purpose of providing background information on the Company, its business and the industry in which it operates. For the purposes of this notice, "pr
Slide 3: 2022/Early 2023 Accomplishments
2022/Early 2023 Accomplishments Shield is an Innovative Specialty • Achieved 25,200 in US Accrufer® prescriptions, up 12- Pharmaceutical Company fold, with a 12% sequential growth in Q1 2023 and a strong March Dedicated to making Accrufer® the • Implementation of Accrufer® collaborative U.S. sales o
Slide 4: 2022 Financial Highlights
2022 Financial Highlights Investing in further development of US commercial operations Revenues of £4.5 million or US$5.4 million (2021: £1.5 million or US$2.1 million), excluding Viatris upfront payment of £4.2 million or US$5.0 million • Net product revenue of £2.9 million from sales of Accrufer®
Slide 5: Recap of Completed Funding Transactions in 2022/23
Recap of Completed Funding Transactions in 2022/23 Fully funded to support operations through to cash flow break-even by end of 2024 Net Proceeds Net Proceeds Month / Year Description of Transaction in £ million in US$ million Execution of convertible shareholder loan with AOP Health Aug 2022 8.0 9.
Slide 6: A Market Ripe for Innovative Disruption
A Market Ripe for Innovative Disruption Estimated number of individuals with ~20 MILLION* anemia in the US* Large, defined market: 13.4M prescriptions per year, majority OTC iron Total available US market opportunity of US$2.3B 80% of prescriptions written by Unsatisfied market driven by Little to n
Slide 7: High Performance Executive and Commercial Leadership Team
High Performance Executive and Commercial Leadership Team Poised for success, building on experience with over 30 products launches Greg Madison Hans-Peter Rudolf Andy Hurley Todd Hayes Christiana Cioffi Lorraine Nemyier Chief Executive Officer Chief Financial Officer Chief Commercial Officer Head o
Slide 8: Our Commercial Partnership Mission
OUR COMMERCIAL PARTNERSHIP MISSION To make Accrufer® the oral iron of choice in the U.S. 12
Slide 9: Exclusive, Multi-Year US Co-Commercial Agreement
Exclusive, Multi-Year US Co-Commercial Agreement Significant Market Opportunity in Iron Deficiency Upfront payment USD $5 million upon signing Start Date January 1, 2023 Revenue and Cost Net Revenue and Marketing Cost split, with Shield taking a larger share Sharing Combined 100-person sales team. E
Slide 10: Leveraging Viatris' Strength to Accelerate Accrufer Growth
Leveraging Viatris’ Strength to Accelerate Potential Accrufer® Growth VIATRIS (USD 14B Market Cap) Brand Strength Driving commercial breadth and accelerating adoption Well established commercial infrastructure and prescriber relationships Dedicated 50-person Sales Team promoting only Accrufer® Best-
Slide 11: Key Drivers to Accelerate US Accrufer Growth
Key Drivers to Accelerate US Accrufer® Growth Field Force Amplify Digital Strategy Expand Market Access Expansion & Distribution & Marketing Initiatives 15
Slide 12: New 100-Person Sales Force Dramatically Increases Reach and Efficiency
New 100-Person Sales Force Dramatically Increases Reach and Efficiency Collectively calling on 12,000+ high prescribing HCP’s Previous Shield only contract sales team territories* New 100-person sales team territories 16 *territory borders are approximate
Slide 13: Sales Force Expansion on Track for Completion in May
Sales Force Expansion on Track for Completion in May Hiring Profile of New Field Team Highlights Depth of Experience Highly credentialed team Shield’s new hires selected from a pool of >4,000 candidates 16 30 66 98 Sales Reps Sales Reps Sales Reps Sales Reps Expanded sales and women’s health experie
Slide 14: Accrufer Prescription Volume continues to climb
Accrufer® Prescription Volume continues to climb Increase of 12% in Q1:23 over Q4:22 (while recruiting and training new sales force) 11,000 Prescriptions by Specialty 10,000 9,000 7% 8,000 7,000 6,000 50% 5,000 43% 4,000 3,000 2,000 1,000 Women's Health General Practitioners Other 0 Q3'21 Q4'21 Q1'2
Slide 15: +12% Q1 Growth in US Accrufer Prescriptions Led by March Increases
+12% Q1 Growth in US Accrufer® Prescriptions Led by March Increases Q1 2023 Highlights the early impact of the expanded commercial team KPIs confirm strong Accrufer® traction +11% New Prescription Volume for Q1 2023 Increasing +7%, +3% and +18% for Jan, Feb and March +3% +1% +21% total Rx 16 Sales R
Slide 16: Key Drivers to Accelerate US Accrufer Growth
Key Drivers to Accelerate US Accrufer® Growth Field Force Amplify Digital Strategy Expand Market Access Expansion & Distribution & Marketing Initiatives 20
Slide 17: The unmet needs of ID/IDA patients are real
The unmet needs of ID/IDA patients are real Up to 70% of people taking Up to 60% of patients will 70% traditional oral iron report 60% discontinue treatment due to gastrointestinal issues1,2 adverse reactions3 What is meant to make patients feel better is making them feel worse 1. DeLoughery TG. Saf
Slide 18: Introducing ACCRUFeR: The World's First Unironic Iron
Introducing ACCRUFeR®: The World’s First Unironic Iron Link unmet needs to branded solution Stand out in “me too” dormant market with a truly differentiated offering 22
Slide 19: Disruptive tactics to wake up dormant market
Disruptive tactics to wake up dormant market Personal Promotion Non-Personal Promotion Patient / Social Activation Print tactics Patient & HCP Websites Irony in the Real World Digital enablement Marketing automation for broad 1-833-NO-IRONY reach Disruptive HCP engagement Actively reviewing other ta
Slide 20: ACOG Congress - 4,000 Women's Health HCPs in attendance
ACOG Congress- 4,000 Women’s Health HCP’s in attendance A booth you can’t visit? How Ironic • Unexpected and memorable • Interactive • Educational Commercial Advisory Board • 12 Cross-disciplinary KOL’s • Gather insights and engagement over long-term 24
Slide 21: Key Drivers to Accelerate US Accrufer Growth
Key Drivers to Accelerate US Accrufer® Growth Field Force Amplify Digital Strategy Expand Market Access Expansion & Distribution & Marketing Initiatives 25
Slide 22: 100M or ~40% of Eligible Lives Now have Coverage for Accrufer
100M or ~40% of Eligible Lives Now have Coverage for Accrufer® Commercial Plans Robust Patient Access Programs Broad Patient Access programs in place to maximize ability to get patient on Accrufer® at lowest cost ($0 or $25 per month) Payer Contracting Strategy allowed for Prior Authorization for si
Slide 23: Full Commercial Deployment Drives Potential for Accrufer Adoption
Full Commercial Deployment Drives Potential for Accrufer® Adoption Accrufer® market share targeting growth to 4.3% by 2025 4.3% Estimated Annual Prescriptions: Market Share* 2023 125,000 – 160,000 2.9% Market Share* 2024 370,000 – 420,000 1.1% 2025 Market Share* 550,000 – 600,000 2023 [Est.] 2024 [E
Slide 24: The International Opportunity
The International Opportunity 28
Slide 25: Global Partnerships Continue to Progress
Global Partnerships Continue to Progress Deals include upfronts, milestones & double-digit royalties United States EU+ 1 Canada Republic of Korea China + 2 Co-Commercial Sales volume (packs sold) Licence agreement Agreement for single PK Continuing enrolment Agreement, Dec. 2022 increased by 6.5% (2
Slide 26: Resources Expected to Support Operations Through Cash Flow Breakeven
Resources Expected to Support Operations Through Cash Flow Breakeven, Expected by YE:2024 Key Financial Highlights1 £19.2M (US$23.0M)1 £2.9M (US$3.5M) £1.6M (US$1.9M) £4.2M (US$5.0M) Cash & US Accrufer® Royalty/Milestone Upfront from Viatris Investments Revenue2 Revenue, excluding the (Mar 2023) Via
Slide 27: Upcoming Milestones Highlight Global Commercial Progress
Upcoming Milestones Highlight Global Commercial Progress Accrufer® US Accrufer®/Ferracru® Ex-US Shield Therapeutics Q2 2023: New field force fully H2 2023: KYE Pharma regulatory Jun 2023: Annual Shareholders trained/deployed: approval and launch (Canada) Meeting Q2:2023: First Commercial booth 2024:
Slide 28: 2022/Early 2023 Accomplishments
2022/Early 2023 Accomplishments Shield is an Innovative Specialty • Achieved 25,200 in US Accrufer® prescriptions, up 12- Pharmaceutical Company fold, with a 12% sequential increase in Q1 2023 and a strong March Dedicated to making Accrufer®the • Implementation of Accrufer® collaborative U.S. sales
Slide 29: Thank You!
Thank You! Greg Madison – Chief Executive Officer Hans-Peter Rudolf – Chief Financial Officer 33
Slide 30: Back Up Slides
9 shield . therapeutics BACK UP SLIDES
Slide 31: Appendix - Condensed Consolidated Statement of Profit and Loss (Unaudited)
Appendix –Condensed Consolidated Statement of Profit and Loss (Unaudited) For the year ended 31 December 2022 2022 2021 (Restated) £000 £000 Revenue 4,467 1,519 Cost of sales (2,470) (980) Gross profit 1,997 539 Other operating income 700 111 Operating costs – SG&A expenses (27,331) (20,150) Operati
Slide 32: Appendix - Condensed Group Balance Sheet (Unaudited)
Appendix - Condensed Group Balance Sheet (Unaudited) At 31 December 2022 2022 2021 (Restated) £000 £000 Intangible assets 11,783 26,851 Property, plant and equipment 197 304 Inventories 1,457 1,635 Trade and other receivables 5,380 2,929 Current tax asset 436 576 Cash and cash equivalents 2,821 12,1
Slide 33: Appendix - Condensed Group Statement of Cash Flows (Unaudited)
Appendix - Condensed Group Statement of Cash Flows (Unaudited) For the year ended 31 December 2022 2022 2021 (Restated) £000 £000 Loss for the year (40,444) (19,678) Depreciation and amortisation 2,362 2,207 Equity-settled share-based payment expenses 743 992 Financial income, net (332) (353) Impair