RE: Way oversold on Rsi at 1221 Feb 2024 14:04
Looks like few hedge funds are buying.....
Full year 2023 total revenue and other income of $17.5m compared to $6.2m in 2022
Full year 2023 Accrufer® revenue of $11.6m, approximately three times more than the prior year
21% increase in H2 Accrufer® average net selling price to $145/prescription
London, UK, 21 February 2024: Shield Therapeutics plc (LSE: STX), a commercial-stage pharmaceutical company that delivers Accrufer®/Feraccru® (ferric maltol), an innovative and differentiated specialty pharmaceutical product, to address a significant unmet need for patients suffering from iron deficiency (with or without anemia) today announces topline results for Q4 2023 and provides an unaudited trading update for the year ended 31 December 2023 ("FY23").
The operational progress made by Shield and its partnership with Viatris to create a new 100-person sales team, increase payer coverage, launch new brand campaigns, and ultimately deliver a tripling of U.S. Accrufer® prescriptions and revenues in 2023 - has been notable. In addition, recent market research reaffirms the unmet need in Accrufer's® target patient population, as healthcare professionals and patients continue to seek a well-tolerated and effective oral iron. During the fourth quarter of 2023, Shield strengthened its sales leadership and marketing organizations which will help drive more focused execution and prescription growth. The Company has also seen positive improvements in its gross-to-net in 2023 and expects that to accelerate further in 2024.
Business Metrics:
· Cash: $13.9m as of 31 December 2023
· Total 2023 revenue and other income: $17.5m, a 2.8x increase over FY22
o Accrufer® revenue: $11.6m, a 3.1x increase over FY22
o Ex-U.S. revenue: $1.5m
o Other income revenue including Viatris milestone payments: $4.4m
· U.S. Q4 2023 Revenue: $4.3m
· Average net selling price: c.$145/prescription in H2 2023, an increase of c.21% compared with H1 2023
· Total 2023 Prescriptions: c.77k, a 3.1x increase over FY22