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AIM-listed pharmaceutical firm Shield Therapeutics (LON:STX) has announced that revenues increased by 1,983% over the year ended 31st December. Despite this, the iron deficiency specialist still posted a £1.8 million loss for the year.
CEO Carl Sterritt said: “2018 was a year of transition and Shield is now well positioned to deliver further positive news through 2019. I expect Norgine to continue to develop the sales performance of Feraccru® in the UK and Germany, and we anticipate concluding further out-licence agreements to cover additional geographies. In the US I look forward to the 27 July 2019 PDUFA date, which has the potential to unlock the world’s largest prescription pharmaceutical market to Feraccru®, which has continued to demonstrate its effectiveness over the last 12 months in two demanding clinical trials. In the meantime, we will continue to build upon these positive data, which have demonstrated Feraccru®’s non-inferiority to the leading IV iron therapy, its effectiveness in treating IDA in CKD patients, and the application of Feraccru® to patients with iron deficiency“.
Shield Therapeutics shares took a 4.64% hit and sat at 72.95p as of 11:45 BST.