Shield Therapeutics Edison

Shield Therapeutics

LN: STX

£122.9m market cap

105p last close

Shield Therapeutics is a commercial-stage pharmaceutical company. Its proprietary product, Feraccru, is approved by the EMA for iron deficiency and is undergoing review with the US FDA. Feraccru is currently marketed through partners Norgine, AOP Orphan and Ewopharma.

Investment summary

Shield Therapeutics is a commercial-stage speciality pharmaceutical company based in the UK. Its primary focus is the commercialisation of Feraccru, approved by the EMA for the treatment of iron deficiency, with or without anaemia. Commercialisation of Feraccru in key markets (ex US) is in the hands of distribution partners Norgine, AOP Orphan and Ewopharma. Top-line data from a Phase IIIb marketing study (AEGIS-H2H) announced in March were positive, and should drive clinical uptake and aid top-line growth. Shield retains the marketing rights to the US market and will seek a partner once a decision on regulatory approval is reached by the US FDA (PDUFA date 27 July 2019).

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 0.6 (18.5) (18.4) (17.4) N/A N/A
2018A 11.9 (2.8) (5.2) (2.0) N/A N/A
2019E 3.0 (7.0) (9.4) (6.5) N/A N/A
2020E 2.7 (7.9) (10.2) (7.8) N/A N/A
Last updated on 17/05/2019
Industry outlook

The market for iron deficiency is substantial, and Feraccru is a unique oral formulation of iron developed to overcome the side effect profile of salt-based oral iron therapies, and provides an alternative treatment to intravenously (IV) administered iron.

Last updated on 17/05/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 4.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 35.5 107.9 268.4
Relative* 37.7 104.3 291.6
52-week high/low 107.5p/26.5p
*% relative to local index
Key management
Carl Sterritt CEO
Tim Watts Interim CFO