Shield Therapeutics reaches cash flow positivity as revenue grows

Wed, 21st Jan 2026 16:24

(Alliance News) - Shield Therapeutics PLC on Wednesday said it achieved operating cash flow positivity in the fourth quarter of 2025, as it guided an operating profit in 2026.

The Newcastle, England-based commercial-stage pharmaceutical company said it generated positive cash flow in the fourth quarter, as it noted total revenue of around USD50 million for 2025, up around 56% from revenue and other income of USD32 million in 2024.

Accrufer net revenues rose to USD13.5 million in the quarter, up 21% from USD11.2 million. Accrufer is Shield's oral treatment for those with iron deficiency with or without anaemia.

Accrufer prescriptions rose to around 64,000 in the quarter from around 41,000 a year prior, "representing the highest dispenses in any quarter since launch", the company said.

Shield added that the net selling price for the treatment fell 6.3% to USD222 from USD237, owing to an increase in covered rebated prescriptions.

Shield reported cash and cash equivalents of USD11.6 million at December 31, up 35% from USD8.6 million at September 30, noting it achieved positive operating cash flow of USD1 million.

It noted this was excluding receipt of proceeds of USD2.0 million from the amended senior secure debt financing announced in the quarter.

Its shares were down 6.9% at 10.47 pence on Wednesday afternoon in London.

Looking ahead, the company said it expects to deliver an operating profit in 2026.

"Reaching cash flow positivity is a significant milestone in the company's history that allows us to continue to grow our business without the need for further external financing," said Chief Executive Anders Lundstrom.

"The efforts of the sales teams, together with our strategic marketing initiatives, delivered our strongest year on record for Accrufer, achieving new highs in prescription volumes, net selling price, and revenues. Accrufer's strong performance in the fourth quarter along with a strengthened balance sheet exiting 2025 gives us the momentum and financial flexibility to achieve our 2026 strategic priorities."

By Christopher Ward, Alliance News reporter

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