11th Dec 2020 16:40
Shield Therapeutics PLC - Newcastle, England-based pharmaceutical firm - Says Thursday, it is considering launching lead product Accrufer in the US on its own after discussions for commercialisation partnerships have not led to any agreement. The treatment for iron deficiency in adults was approved by the US Food & Drug Administration in July 2019. Shield says it remains in talks with potential partners for US marketing rights, "but it is now clear that a transaction will not be completed before the end of 2020". The company therefore is considering launching the product on its own, or with co-promote or sub-license partners in specific therapeutic areas. It estimates the total cost of doing this to the point that Accrufer generates cash is USD30 million to USD40 million. Any financing for this effort would include a substantial debt component, it says. Commenting on the so-far unsuccessful partnership talks, Shield says: "The length of time that the process has taken and the late-stage setbacks incurred have been frustrating for both the board and shareholders but Shield's understanding of the US iron therapy market has developed significantly over the last year."
Current stock price: 68.00 pence, down 34% since Wednesday close
Year-to-date change: down 62%
By Tom Waite; [email protected]
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