The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Shield Therapeutics plc
("Shield" or the “Company" or the “Group”)
Full Year Trading Update
Further Reports of Progress on the Commercialization of Accrufer®/Feraccru®
Accrufer® US Total Prescriptions increased to greater than 25,000 in 2022;
Accrufer® Net Product Revenue increased to US$3.5 million in 2022;
Collaborative Sales Agreement signed with Viatris for Accrufer® in the US;
Completion of US$36.7million in financing (gross); and
Fully funded to support operations through to cash flow break-even by end of 2024.
London, UK, 09 February, 2023: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company focused on the commercialization of Accrufer®/Feraccru® (ferric maltol), a novel oral iron therapy differentiated from other conventional irons by its efficacy, well-tolerated formulation, and broad label, provides the following unaudited trading update for the year ended 31 December 2022, as well as an update on the Company’s progress on the implementation of the collaboration with Viatris Inc (‘Viatris’).
Unaudited Revenue for the year ended 31 December 2022 and Cash position:
Total Revenue of £8.5 million (FY21: £1.5 million) including:
• Net product revenue of £2.8 million from sales of Accrufer® in the US (FY21: £0.1 million)
• Royalty revenue of £1.3 million from product sales in Europe (FY21: £0.9 million)
• Upfront payments of £4.2 million from Viatris and £0.2 million from KYE Pharma on signing of the license agreement for commercialization in Canada (FY21: £0.5 million from Korea Pharma)
Total Financing of c.£30 million (including gross funds received post period):
• US$36.7 million (gross proceeds, comprised of US$21.7 million from placing and open offer, US$5 million upfront payment from Viatris and US$10 million additional borrowings under the amended convertible shareholder loan facility from AOP Health)
• Cash resources sufficient to support operations through to cash flow break-even by end of 2024
US Commercial Update: About 20 million people in the US suffer from anemia including iron deficiency (ID) and iron deficiency with anemia (IDA), reflecting a large, defined yet under-served market. As the first and only FDA approved oral iron to treat iron deficiency with or without anemia, regardless of etiology, Accrufer® has the potential to meet an important unmet medical need for both physicians and patients. Shield has made substantial progress across the following areas:
• Collaborative Sales Agreement with Viatris – Shield signed an exclusive, multi-year agreement with Viatris, Inc, a global healthcare company, in December 2022 to co-commercialize Accrufer®. The collaboration expands the commercial footprint and resources for Accrufer®, as the brand aspires to be the oral iron of choice in the US market. The collaboration will result in a 100-person sales team which will promote Accrufer® to over 12,000 Health Care Professionals that write the majority of oral iron
acquired some today @104.88. Will now drop as is always the way until interest rates settle.
Well put a buy order in today after drop, to top up my holding but was staggered to see a 4p spread...... Not hopeful that order will be successful now as not prepared for that mark up. I suppose its rising interest rates against gold investments now. 4% this week.??
Prudential plc to open branch in Macau
to provide life and health insurance solutions
Prudential plc (Prudential) today announced it has received approval from the Macau Special Administrative Region to establish a branch of its Hong Kong business in Macau. With the addition of Macau, Prudential will have a presence in 24 markets across Asia and Africa.
Prudential will initially offer life and health insurance solutions in Macau through its digitally-enhanced agency force. These solutions include multi-currency options to meet customer needs in savings, healthcare and protection.
Lilian Ng, Managing Director, Strategic Business Group, Prudential said the new Macau branch completes the company's footprint in China's Greater Bay Area (GBA).
The GBA is made up of nine cities in the Guangdong Province and the two Special Administrative Regions of Hong Kong and Macau. Its substantial population of 86.7 million people contributed to 11 per cent of China's GDP[1] in 2021.
"While we have seen rapid economic development in Macau, insurance penetration remains low. With the city's fast-ageing population, there is strong demand from its residents for solutions that can help them access private healthcare facilities in Macau and elsewhere in the GBA.
"The Macau branch will play a pivotal role in our strategy to make healthcare and financial security more accessible to people in the GBA, as we leverage our 50-year experience of providing insurance to customers in Hong Kong," said Ng.
Macau has a life insurance penetration rate at 6.4 per cent in 2021[2] - slightly over one-third of Hong Kong's 17.3 per cent. In 2021, the gross written premium of Macau's life insurance industry grew 26 per cent year-on-year to reach MOP 33 billion[3] (approximately USD 4 billion[4]), driven by rising demand for protection and wealth accumulation products in the city.
Lawrence Lam, Chief Executive Officer of Prudential Hong Kong, who will have management and performance oversight of the Macau branch, said, "We are delighted to have the opportunity to offer our innovative insurance solutions to the people of Macau. The establishment of the Macau branch is a key milestone for the Group's GBA strategy."
Chris Ma appointed as General Manager of Prudential Macau
Prudential has appointed Chris Ma to be the General Manager of Prudential Macau with immediate effect. In this role, Ma will be responsible for driving the operational strategy, establishing the distribution channels and building a comprehensive suite of products in Macau. He will lead key initiatives to launch the company's agency advisory and customer support services.
With a strong track record of driving agency productivity and recruitment, Ma brings with him more than 30 years of solid experience in the insurance industry. He was the Chief Executive Officer of AIA Macau prior to joining Prudential.
Prudential's Macau branc
Libero Copper is a mineral exploration company that holds a collection of porphyry copper deposits throughout the Americas in prolific but stable jurisdictions. The portfolio includes Mocoa, a porphyry copper-molybdenum deposit located in Putumayo, Colombia; Esperanza, a porphyry copper-gold and epithermal gold project in San Juan, Argentina; Big Red, a new greenfield discovery in the Golden Triangle and Big Bulk, a fully permitted and drill-ready porphyry copper-gold target, both projects located in British Columbia, Canada.
Can I have your views on this..
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce it has made a third investment in Libero Copper & Gold Corporation ("Libero") to acquire 2.6 million new shares at CAN 15 cents per share for a total consideration of CAN$390,000 (US$289,000).
The investment, which maintains the Company's 19.8 per cent. shareholding, forms part of Libero's recently launched private placement with gross proceeds of approximately CAN$2.0 million (US$1.5 million) to be used for exploration at the Mocoa and Esperanza copper porphyry projects in Colombia and Argentina respectively. Further information about Libero's properties can be found at: https://www.liberocopper.com.
Libero is listed on the TSX Venture Exchange (ticker LBC) and owns, or has the right to acquire, several copper exploration properties in North and South America including Mocoa, one of the world's largest undeveloped copper-molybdenum resources. Anglo Asian now holds 18.1 million common shares in Libero, as well as a total of 8.9 million warrants exercisable at CAN 22 cents and CAN 75 cents per share as set out in the table below.
Thank you Mattjos you've already given the board a boost as well as others that is.
I just wish Mattjos would post here as well. I think that now we have a clear upside of 50p to the SP with latest news. Be nice to read his views, as he has visited site in the past. We did achieve 175.00 on less promising news and now we have other investments as well (not forgetting divi).
Been in AAZ from the start. So nice to see posts on this web site. As I have struggled with the advfn site as many other posts not AAZ have spoilt that discussion board . Hopefully it would be nice to have this the primary posting page if it were possible.
Great interview with Pru today on Sky Business News. Over 400,000 (The Man from Pru) salesman on the ground Huge potential in Asia. Only 4% penetration in China (markets) Plus much more to come From India and Indonesia . Looked and sounded very promising now Hong Kong has opened for Business again. Hopefully first signs of SP recovery????
I'm hoping for an increase in sentiment here with the SP rising into Feb, not only because of the buy back last year sinking in but also the up and coming Dividend payment in March possibly around the 12.5p mark. Good luck everyone.
Just received letter From my HSBC account telling me that shares will be subdivided Say from 20p (pre todays drop) into one share of .01p and .19p. As the .19p is Valueless it will no longer be listed on my account ?? the .01p shares will be transferred to a crest receipt ????? Whats that all about please.
Like all Pharmaceutical stocks when they start to take off they really rocket. Hope that will be the case here at last. Watched these drop from highs of £1.80's and first bought in @ 61p Soley on the IPR they held. Since topped up in the Lows to offset loses. Good Luck Everyone.
Remember that KR, so be cautious with this stock
Certainly no top slicing for me, This stock has a long way to go yet Plus another BUY recommendation today, I added to my holdings in th£1.70's and hope we can maintain to momentum whilst looking forward to my Divi. Best wishes to everyone.
Bozi , I know its very frustrating a few years ago Todays RNS would have produced a 20% uplift at least, but it would appear whatever good news flows SP's in this sector remain muted. Ie GGP, Condor, Xtr, Cobra to name but a Few although AAZ seems to be slightly gaining some ground back (but along way back to its £1.80) Maybe lack of production in China due to covid?? Can't see MM's holding entire sector down. Wish you all luck. (Invested, here when Tony Blair was PM)