Shield Therapeutics - Next step a US partnering deal

Shield Therapeutics (STX) has provided an updated trading statement ahead of FY19 results, expected at the end of May. In its January trading update, STX had guided to FY19 revenues of £2.9m. However, this has been revised down to £0.7m with repayment of the €2.5m Norgine milestone. In Europe, Feraccru has continued to grow during Q120 in its launched countries (the UK and Germany), and STX has reported minimal COVID-19 disruption to its commercial progress and manufacturing supply chain to date. The company reported an unaudited cash balance of £11.3m at 31 March. The next key inflection point is a US partnering deal, and STX has been able to advance discussions with potential commercial partners in recent weeks. We expect Accrufer launch later this year once a partner has been found.