Pharmaceutical firm Shield Therapeutics has seen revenues rise as more markets adopt its leading iron deficiency product.
The maker of iron deficiency-fighting tablets, which has operations in the North East and the US, has been involved in a significant push of its iron deficiency-fighting tablets, sold in Europe as Ferracru and all other territories as Accrufer, with a prime focus on the US. In its latest note to investors, covering results for the six months to June 30, the Gateshead based pharma firm reported a substantial increase in group revenues, prescription sales and its average net selling price.
Group revenues rose from $12.1m to $21.4m, and Accrufer revenue increased from $11m to $19.2m. It said revenues were generated through around 84,000 prescriptions predominantly in the six large states of Texas, New York, Florida, Georgia, California, and North Carolina.
Taking out US revenues, the firm totted up $2.2m in milestones and royalties from global partners in Europe, Canada and Japan, double the amounted chalked up in the first half of 2024. Meanwhile, the firm's losses narrowed from $15.5m to $9.5m, driven by higher Accrufer revenues alongside streamlining business expenditures within the group.
The company said it is seeing the positive impact of key strategic initiatives, including the rebalancing of its consignment business and restructuring of the sales force in Q4 2024, as well as implementation of digital marketing initiatives. It also reported continued progress in its commercial and development stage partnerships in Canada, Japan, China, saying it was 鈥減roud to collaborate with a growing network of global partners鈥.
Earlier this year - the third biggest market in the world - through an exclusive licence agreement to sell its lead product Accrufer with Vital-Net. The firm said in its note to shareholders: 鈥淲e see an oral iron market which has clear unmet needs, based on physician and patient feedback, for a product that delivers both effectiveness and tolerability. As we move into the second half of 2025, Shield and our partner Viatris expect to achieve continued growth in Accrufer prescriptions in the US along with further improvement of other financial metrics.
鈥淎dditionally, our ex-US partnerships continue to progress not only making Accrufer/Ferraru available around the globe but also adding to our revenues through both milestones and royalties. The company remains on track to achieve its prior guidance of turning cash flow positive by the end of 2025.鈥
Anders Lundstrom, CEO of Shield Therapeutics, added: 鈥淲e are encouraged by Accrufer鈥檚 strong performance in H1 2025, following the increasing market adoption of Accrufer, which further validates its substantial potential. Operationally, we made significant progress globally, including the launch of Accrufer in Canada, a new licensing agreement in Japan, and the successful completion of a key Phase 3 study in China.
鈥淲e also submitted regulatory filings for pediatric use in both Europe and the US following positive trial results. We remain committed to driving sustained growth and establishing Accrufer as the preferred oral iron therapy for patients with iron deficiency, with or without anemia. Our cash position strengthened to $10.8m, and we remain on track to turn cash flow positive by year-end. These results reflect the growing demand for Accrufer and the successful execution of our strategy to expand access to patients worldwide.鈥
