RNS Number : 9478J
Shield Therapeutics PLC
29 October 2024
 

                                                                                       

                                                                                        Shield Therapeutics plc

("Shield" or the "Company")

 

Q3 Trading Update

 

ACCRUFeR® US Net Revenues of $7.2 million following 20% Increase in Q3 Prescriptions over Q2
and 86% increase over Q3 2023

 

Financial foundation strengthened via accounts receivable financing expansion to $15 million and
implementation of a 10% cost saving plan to the Group's operating cost base

 

Non-binding terms agreed with AOP Health for the provision of $10 million of new equity to drive growth, expecting positive cash flow by the end of 2025

 

·    Total ACCRUFeR® Net Sales: $7.2 million, representing 4% growth compared to $6.9 million in Q2 24 and 76% growth compared to Q3 2023. The growth rate difference between revenues and prescription demand are due to the impact of wholesalers buying ahead of the July 4th weekend during the last week of June.

·    Total Prescriptions: -c. 43,500, an increase of 20% over Q2 2024 and an 86% increase over Q3 2023.

·    Average net selling price: $167 per prescription vs. $171 in Q2 2024 and $148 in Q3 2023. Excluding July, the average net selling price in Q3 2024 was $192 per prescription.

·    Total Group Revenues: $8.0 million including royalties and milestones from global partners for Q3 2024 resulting in $20.0 million of revenue for the 9 months ended 30 September 2024. The Board's internal estimates indicate that trading remains in line with market expectations for 2024 and is expected to meet the total revenue covenant target of $31.5 million for full year 2024 under the debt facility agreement with SWK Funding LLC.

Investor presentation

Interim CEO, Anders Lundstrom, and CFO, Santosh Shanbhag, will be hosting a live online presentation relating to the Q3 trading update via the Investor Meet Company platform at 2pm (GMT) on Thursday 31 October 2024.

 

The presentation is open to all existing and potential investors. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am (GMT) the day before the meeting or at any time during the live presentation.

https://www.investormeetcompany.com/shield-therapeutics-plc/register-investor

 

 

For further information please contact:

 

Shield Therapeutics plc

www.shieldtherapeutics.com

Anders Lundstrom, interim CEO

Santosh Shanbhag, CFO

+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 Ltd

Geoff Nash/ Rory Sale /Nigel Birks/Harriet Ward                                            

 

 

 

+44 (0)20 7220 0500



Financial PR & IR Advisor


Walbrook PR


Lianne Applegarth / Alice Woodings

+44 (0)20 7933 8780 or shield@walbrookpr.com

About Shield Therapeutics plc

Forward-Looking Statements

 

 

 

 

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