REG - Shield Therapeutics - Q3 2023 U.S. Commercial Highlights

Shield TherapeuticsAnnouncement

07/12/2023 07:00

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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® 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®/Feraccru® (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®, 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®. 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® 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® as we look ahead to 2024."

 

For further information please contact:

 

 Shield Therapeutics plc                                                                        www.shieldtherapeutics.com (http://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                                                +44 (0)20 7220 0500
 Ward

 Financial PR & IR Advisor
 Walbrook PR
 Paul McManus/Charlotte Edgar/                                                                  +44 (0)20 7933 8780 or shield@walbrookpr.com (mailto: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®/Feraccru®

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® has the potential to meet an important unmet
medical need for both physicians and patients.

 

Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt-based oral
therapy for adults with ID/IDA. Accrufer®/Feraccru® 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®/Feraccru®, including the product label, can be
found at: www.accrufer.com (http://www.accrufer.com) and www.feraccru.com
(http://www.feraccru.com) .

 

About Shield Therapeutics plc

Shield is a commercial stage specialty pharmaceutical company that delivers
Accrufer®/Feraccru® (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® 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® 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®/ Feraccru® 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®/Feraccru® has patent coverage until the mid-2030s.

Accrufer®/Feraccru® 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®/Feraccru®. 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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