TIDMSTX
RNS Number : 9272V
Shield Therapeutics PLC
07 December 2023
Shield Therapeutics plc
("Shield" or the "Company" or the "Group")
Q3 2023 U.S. Commercial Highlights
Continued U.S. Accrufer(R) Growth Momentum for Q3 2023, with
Strong KPIs
Increase in average net selling price of 24% to
$148/prescription
Total Q3 2023 U.S. net revenue of $4.1 million
Prescriptions for Q3 2023 increased 76% sequentially, exceeding
54,000 for the first nine months of 2023
London, UK, 07 December, 2023: Shield Therapeutics plc (LSE:
STX, "Shield"), a commercial stage pharmaceutical company that
delivers Accrufer(R)/Feraccru(R) (ferric maltol), an innovative and
differentiated specialty pharmaceutical product, to address a
significant unmet medical need for patients suffering from iron
deficiency (with or without anemia) today summarizes key highlights
of the Q3 2023 U.S. commercialization for Accrufer(R), including
total prescriptions of more than 54,000 for the first nine months
of 2023, and 76% sequential quarterly growth in prescriptions to
over 27,750, for Q3 2023.
Key Q3 Results (all percent comparisons are sequential to Q2
2023 unless otherwise indicated)
-- Total Prescriptions - - Over 27,750, increased 76%
-- Average Net Selling Price - Increase of 24% to $148/prescription compared to H1 2023
-- Revenue - U.S. Q3 net revenue of $4.1MM (unaudited)
-- New Prescriptions - increased 87%
-- First time writers -- increased 27%
-- Repeat Writers - 77% of the HCP's who wrote an Rx in Q3 2023 had also written one in Q2 2023
Greg Madison, CEO of Shield Therapeutics, commented: "Shield
continues to make excellent progress on the U.S. commercial launch
of Accrufer(R). As we approach the one-year anniversary of the
announcement of the Viatris agreement, I am pleased to report that
the collaboration continues to deliver excellent results, based on
the stand-out performance of the combined commercial team, which
has produced consistent and strong sequential prescription growth
and key performance indicators (KPI), which are trending towards
previous guidance. In addition, we have made positive strides
towards our goal of increasing our average net selling price and
expect further progress in 2024.
"Reflecting on our year-to-date performance, I am proud to share
that we continue to stay focused on our goal of making Accrufer(R)
the "oral iron of choice" and a trusted brand for patients and
providers in the U.S. and beyond," continued Mr. Madison. "We are
building a strong and dedicated team, underscored by the recent
addition of our Vice President of Marketing, Emily Bulat, and
continue our progress towards the recruitment of a new Chief
Financial Officer. I remain very optimistic about the growth
prospects for Accrufer(R) as we look ahead to 2024."
For further information please contact:
Shield Therapeutics plc www.shieldtherapeutics.com
Greg Madison, CEO +44 (0) 191 511 8500
Nominated Adviser and Joint
Broker
Peel Hunt LLP
James Steel/Patrick Birkholm +44 (0)20 7418 8900
Joint Broker
Cavendish Limited
Geoff Nash/George Dollemore/Nigel
Birks/Harriet Ward +44 (0)20 7220 0500
Financial PR & IR Advisor
Walbrook PR
Paul McManus/Charlotte Edgar/ +44 (0)20 7933 8780 or shield@walbrookpr.com
Alice Woodings
Investor Contact (US Advisor)
LifeSci Advisors, LLC
John Mullaly +1 617 429 3548 or jmullaly@lifesciadvisors.com
About Iron Deficiency and Accrufer(R)/Feraccru(R)
Clinically low iron levels (aka iron deficiency, ID) can cause
serious health problems for adults of all ages, across multiple
therapeutic areas. Together, ID and ID with anemia (IDA) affect
about 20 million people in the U.S. and represent a $2.3B market
opportunity. As the first and only FDA approved oral iron to treat
ID/IDA, Accrufer(R) has the potential to meet an important unmet
medical need for both physicians and patients.
Accrufer(R)/Feraccru(R) (ferric maltol) is a novel, stable,
non-salt-based oral therapy for adults with ID/IDA.
Accrufer(R)/Feraccru(R) has a novel mechanism of absorption
compared to other oral iron therapies and has been shown to be an
efficacious and well-tolerated therapy in a range of clinical
trials. More information about Accrufer(R)/ Feraccru(R) , including
the product label, can be found at: www.accrufer.com and
www.feraccru.com .
About Shield Therapeutics plc
Shield is a commercial stage specialty pharmaceutical company
that delivers Accrufer(R)/Feraccru(R) (ferric maltol), an
innovative and differentiated pharmaceutical product, to address a
significant unmet need for patients suffering from iron deficiency,
with or without anemia. The Company has launched Accrufer(R) in the
U.S. with an exclusive, multi-year commercial agreement with
Viatris Inc. (Viatris). Outside of the U.S., the Company has
licensed the rights to four specialty pharmaceutical companies.
Feraccru(R) is commercialized in the UK and European Union by
Norgine B.V. (Norgine), which also has marketing rights in
Australia and New Zealand. Shield also has an exclusive license
agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the
development and commercialization of Accrufer(R)/ Feraccru(R) in
China, Hong Kong, Macau and Taiwan; with Korea Pharma Co., Ltd. for
the Republic of Korea (Korea Pharma); and with KYE Pharmaceuticals
Inc. for Canada.
Accrufer(R)/Feraccru(R) has patent coverage until the
mid-2030s.
Accrufer(R)/Feraccru(R) are registered trademarks of Shield
Therapeutics.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking
statements. These forward-looking statements are based on
management's current expectations and include statements related to
the commercial strategy for Accrufer(R)/Feraccru(R). These
statements are neither promises nor guarantees, but involve known
and unknown risks and uncertainties, many of which are beyond our
control, that may cause actual results and performance or
achievements to be materially different from management's
expectations expressed or implied by the forward-looking
statements, including, but not limited to, risks associated with
the Company's business and results of operations, competition and
other market factors. The forward-looking statements made in this
press release represent management's expectations as of the date of
this press release, and except as required by law, the Company
disclaims any obligation to update any forward-looking statements
contained in this release, even if subsequent events cause its
views to change.
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END
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December 07, 2023 02:00 ET (07:00 GMT)
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