14th Jun 2016 09:17
LONDON (Alliance News) - Shield Therapeutics PLC Tuesday reported a widened pretax loss for 2015, its maiden full year results since listing on London's AIM market in February.
The company reported a pretax loss of GBP24,488 for 2015, widened from a pretax loss of GBP13,430 in 2014. It did not report revenue in either period.
Shield Therapeutics said its 2015 results do not include the financial results for Phosphate Therapeutics Ltd, which it acquired at the time of its initial public offering, and include costs related to its capital structure as a private company before its listing.
The company has two core products in development, Feraccrue for the treatment of iron deficiency anaemia, which got marketing authorisation across Europe in February 2016, and PT20, which is in development for hyperphosphatemia related to chronic kidney disease.
It expects PT20 will undergo one fuhrer phase III study before a marketing authorisation application can be filed in major pharmaceutical markets.
"The period through 2015 into 2016 has been a transformational time for Shield Therapeutics. During this time the company has successfully achieved three key long-term strategic objectives with its IPO, the first approval and commencement of commercialisation of its lead product, Ferracru and finally the successful completion of the first pivotal trial of PT20. We look forward to the future with great excitement," said Chief Executive Officer Carl Sterritt in a statement.
Shares in Shield Therapeutics were down 4.2% at 170.00 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Shield Thera