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Shield Therapeutics PLC - Gateshead Quays, England-based commercial stage pharmaceutical company focused on the commercialisation of its oral therapy for iron deficiency - Reports revenue in the year to December 31 trebled to £4.5 million from £1.5 million a year before. Says net product revenue from sales of Accrufer in the US totalled £2.9 million, up from £0.1 million while royalty revenue from product sales in Europe reached £1.4 million, up from £0.9 million. Points out total revenue excludes upfront payment of £4.2 million, received upon execution of co-promote arrangement with Viatris, which was expected to be recognised as revenue in 2022. After talks with auditors £0.7 million of that payment was recorded in other operating income in 2022 and £3.5 million will be recognised in other operating income in 2023. Pretax loss totalled £40.1 million more than doubled from last year’s £19.9 million. Says company is fully funded following new financing which is expected to provide resources to support operations through to cash-flow break even expected by the fourth quarter 2024. Current stock price: 7.00 pence, down 9.7% in London on Thursday 12 month change: down 59% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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