Iron deficiency drugs specialist Shield Therapeutics has reported a significant rise in Q3 revenues and pointed to strong momentum.
The pharmaceutical maker, which has operations in the North East and the US, told investors on the London Stock Exchange that net revenues were $13.1m in Q3, compared with $7.2m in the same period last year. Shield said it was its strongest quarterly performance to date with a total of 54,000 prescriptions at a net average selling price of $237 for its Accrufer tablets which fight iron deficiency.
Bosses described strong momentum going into Q4 with September having generated more than 40% of the Q3 revenues. They said the business - which is undergoing a major push in the US - remains on track to reach cash flow positive by the end of 2025.
Accrufer's price has steadily risen over the last year, from $167 in Q3, 2024 to $231 in Q2, 2025. About 22% of the 54,000 prescriptions were dispensed at a significantly subsidised price to patients and were yet to be paid.
Shield said it had cash and cash equivalents of $8.6m at the end of September, down from $10.8m at the end of June. That includes funds from a £1.5m share placing in September designed to support the Accrufer business.
Anders Lundstrom, chief executive officer, said: "I am very pleased to see Accrufer's strong performance continue into Q3 2025. The combined efforts of the Shield and Viatris Sales team along with our strategic marketing initiatives have driven continued strong performance in Q3, marking our strongest quarter on record with a new high in prescription volumes, net selling price, and revenues. This was further underscored in September, which delivered the highest net revenue month to date representing >40% of the Q3 Accrufer revenues. This performance has reinforced our alignment with full-year performance targets enabling us to stay on track to turning cash flow positive by the end of 2025."
The trading update follows a number of milestones in Shield's efforts to extend the market for its drugs into younger patients. Last month it announced the US Food and Drug Administration (FDA) had accepted Accrufer as a clinical supplement and assigned priority review to extend the indication to adolescents aged 10 and above.
Plans are in place to file for a further extension of the indication to include children aged one month and above, and for regulatory approval of a new pediatric suspension which could also be used for adults who can't swallow capsules and tablets.
Shield launched Accrufer in the US in 2021 with an exclusive, multi-year agreement with global healthcare company Viatris. Outside of the US, it has licence agreements in the º£½ÇÊÓƵ and EU, China, Canada and Japan.
