Shield Therapeutics plc (STX.L), a pharmaceutical company, on Friday reported positive EBIT for the first quarter, compared to a loss last year, supported by a significant milestone payment and strong year-on-year growth in group net revenues.
The company also announced that CFO Santosh Shanbhag will step down on June 1 to pursue a new role. CEO Anders Lundstrom will serve as interim CFO while the company searches for a permanent successor.
On the LSE, shares of Shield Therapeutics were losing 11.20 percent, trading at 7.77 pence.
EBIT was around $2.5 million versus a $4.4 million loss in the prior year, primarily driven by the $7.9 million development milestone payment by ASK in China, and increased ACCRUFeR sales in the US.
Quarterly net revenues rose to $18 million from $7 million a year earlier.
ACCRUFeR net revenue increased 54 percent year-on-year to $9.9 million, driven by seasonal dynamics and strong March sales, which made up nearly 46 percent of total first-quarter product revenue.
ACCRUFeR prescriptions dispensed reached around 53,000, up from 36,800 in the previous year, with an average net price of $190, higher than $187 last year.
New York Medicaid, representing approximately 19 percent of ACCRUFeR sales, has introduced new Prior Authorisation requirements. Shield said it is too early to assess the impact and is pivoting to commercial-plan business to offset the change.
On regulatory progress, China's NMPA accepted MAA submission for ACCRUFeR, and the EMA approved a FeRACCRU indication extension to include children over 12 years.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.