Shield Therapeutics' (STX) FY20 results reported total revenue of £10.4m reflecting an $11.4m (£9.7m) upfront payment received from ASK Pharm (Feraccru out-licensing deal that covers China) and £0.7m from royalties on Feraccru sales from European partner Norgine. In March 2021, STX raised net funds of £27.8m, which will be utilised to support the US launch and commercialisation of Accrufer (iron deficiency). The focus for STX now is to establish and expand its US-based operations ahead of a Q221 launch; management will provide an update on progress in mid-May. STX expects to reach break-even on a monthly basis within 15-18 months after US launch. We value STX at £505.7m - the current share price reflects the European opportunity only according to our valuation.Den vollständigen Artikel lesen ...