Shield Therapeutics: Looking to accelerate positive signals in the US

Shield Therapeutics plc (LON:STX) is a commercial-stage pharma company delivering specialty products that address patients’ unmet medical needs, with an initial focus on iron deficiency (ID). Following launch of Accrufer® in the US in July 2021, the initial challenge was to greatly improve market awareness of its differentiating features as an oral ID drug. The US market offers enormous potential, but the uptake has been slower than the market had anticipated. While considerable progress has been made, in order to accelerate prescription (Rx) growth and obtain sales traction, more capital will be required by the end of 2022.

  • Strategy: In the US, Shield Therapeutics is commercialising Accrufer itself, thus retaining a greater share of profits for shareholders. Outside the US, Shield’s strategy is to out-license commercial rights to partners with appropriate expertise in target markets, which has been achieved in Europe, China, Republic of Korea and Canada.
  • US penetration: With its 2021 results release, Shield indicated that physician awareness of Accrufer had improved greatly, and payors covering >100m lives have now been contracted. This has resulted in a 100% increase in Rxs in 1Q’22 vs. 4Q’21. The aim now is to increase the sales team to accelerate Rx growth.
  • Financing update: Shield has taken on a $10m shareholder loan to extend its cash runway into 4Q’22. Meanwhile, it is looking at all possible approaches to raise additional working capital to expand the sales team and accelerate the rate of progress, with the aim of achieving peak sales at the earliest possible time point.
  • Risks: With a completely new commercial team, the key risk was in the execution of its commercial strategy for Accrufer in the US. Taking longer than expected to achieve sales traction, Shield Therapeutics will require more capital at a time when investors have become increasingly risk-averse.
  • Investment summary: Earlier in 2022, the market reacted badly to news that the initial uptake of Accrufer in the first six months from US launch had been slow. Now it has reacted again to news that the company will require more capital by the end of 2022. However, all the signals are that Accrufer is moving in the right direction. Additionally, the market is ignoring the fact that iron replacement is a hot area, as evidenced by recent M&A activity.

DOWNLOAD THE FULL REPORT

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    Hardman & Co

    More articles like this

    Hardman & Co

    Shield Therapeutics upside potential is enormous (VIDEO)

    Shield Therapeutics plc (LON:STX) is the topic of conversation when Hardman & Co Analyst Dr Martin Hall joins DirectorsTalk Interviews. Despite launching a drug into the US market, Shield has performed really badly over the past 12 months, Martin

    Hardman & Co

    Shield Therapeutics: PBMs have bought in to Accrufer

    Shield Therapeutics plc (LON:STX) is a commercial-stage pharma company delivering specialty products that address patients’ unmet medical needs, with an initial focus on iron deficiency (ID). Following the US launch of Accrufer® in July 2021, the initial challenge

    Hardman & Co

    Shield Therapeutics: Focused on US market penetration

    Shield Therapeutics plc (LON:STX) is a commercial-stage pharmaceutical company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID). Accrufer® has just been launched in the US by Shield, where

    Hardman & Co

    Shield Therapeutics: Accrufer® launch on schedule

    Shield Therapeutics plc (LON:STX) is a commercial-stage pharmaceutical company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID). Feraccru®/Accrufer® has been approved by the regulators in both Europe and

    Hardman & Co

    Shield Therapeutics US market offers a significant opportunity

    Shield Therapeutics plc (LON:STX) is the topic of conversation when Dr Martin Hall Analyst at Hardman & Co joins DirectorsTalk. Martin talks us through the company’s underperformance, explains how he thinks the shares could recover, how returns will be

    Hardman & Co

    Shield Therapeutics: Reassessing the US opportunity

    Shield Therapeutics plc (LON:STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID). Feraccru®/Accrufer® has been approved by the regulators in both Europe and the

    Hardman & Co

    Shield Therapeutics: Optimism over US deal

    Shield Therapeutics plc (LON:STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID). Feraccru/Accrufer has been approved by the regulators in both Europe and the

    Hardman & Co

    Shield Therapeutics Plc Good demand for Feraccru in Europe

    Shield Therapeutics (LON:STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID) with ferric maltol. Recent news that the FDA had approved this drug for

    Hardman & Co

    Shield Therapeutics Taking on China

    Shield Therapeutics (LON:STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID) with ferric maltol. Recent news that the FDA had approved this drug for

    Hardman & Co

    Shield Therapeutics Plc More choice for clinicians and patients

    Shield Therapeutics (LON:STX) is a commercial-stage company delivering specialty products that address unmet medical needs, with an initial focus on treating iron deficiency (ID) with Feraccru®/Accrufer®. FDA approval of Accrufer with a broad label in the US opens

    Hardman & Co

    Shield Therapeutics All in the execution

    Shield Therapeutics (LON: STX) is a commercial-stage pharmaceutical company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency with Feraccru®. Following IPO and EU approval of Feraccru, both in February

    Hardman & Co

    Hardman & Co Investor Forum 26th February 2019

    Last week we were delighted to host our 15th Investor Forum at the offices of DAC Beachcroft. We welcomed 4 interesting companies to present to an audience of 60 sophisticated investors. The audience had the opportunity to learn

    Hardman & Co

    Shield Therapeutics Cast-iron investment

    Shield Therapeutics (LON:STX) is a commercial-stage pharmaceutical company delivering specialty products that address patients’ unmet medical needs in renal and gastrointestinal disorders. Its initial focus is Feraccru® a supplement for iron deficiency. Following IPO and EU approval of