Shield Therapeutics (AIM:STX), the commercial-stage pharmaceutical company focused on iron deficiency, said Q1 2026 net revenues were $18m and EBIT was c.$2.5m, compared with $7m revenue and a $4.4m loss in Q1 2025.
The company said the improvement was primarily driven by a $7.9m development milestone payment from ASK in China and higher ACCRUFeR® sales, which rose 54% year on year to $9.9m with a strong March that represented nearly 46% of total Q1 product revenues.
"ACCRUFeR® delivered strong year on year growth in Q1 2026," Chief Executive Anders Lundstrom said.
Shield cautioned that newly introduced Medicaid prior authorisation requirements in New York, representing approximately 19% of ACCRUFeR® sales, will impact volumes, and noted c.26% of prescriptions in Q1 were consignment-based and subsidised but are expected to reduce over the year.
Cash and cash equivalents were $12.4m at 31 March, the NMPA has accepted an MAA submission for ACCRUFeR® in China and the EMA approved FeRACCRU® for children over 12, and CFO Santosh Shanbhag will step down on 1 June with CEO Lundstrom appointed interim CFO while a permanent successor is sought.
Management will host an investor webinar on 5 May at 2:15pm BST to discuss the Q1 trading update.
