Shield Therapeutics
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Shield Therapeutics (STX) investor relations material

Shield Therapeutics Q4 2025 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 TU earnings summary22 Jan, 2026

Executive summary

  • Achieved cash flow positive status in Q4 2025, driven by strong US ACCRUFeR/ACCRUFERⓇ sales and effective cost management, marking a key milestone toward sustainability.

  • ACCRUFeR/ACCRUFERⓇ became the number one branded prescription oral iron in the US ID/IDA market, with a highly tolerable proprietary formulation.

  • Expanded global footprint with launches in Canada and regulatory progress in Korea, China, and pediatric populations.

  • Focused on expanding market share through direct-to-consumer and physician-targeted marketing, with emphasis on primary care, women's health, and digital outreach.

  • Actively pursuing a second product to leverage the existing sales force and further diversify the portfolio.

Financial highlights

  • Total 2025 revenues reached approximately $50 million, with $46 million from US ACCRUFeR/ACCRUFERⓇ sales, representing 56% year-over-year growth.

  • Nearly 200,000 prescriptions dispensed in 2025, up 33% year-over-year.

  • Net selling price per prescription increased 21% year-over-year to approximately $223 in 2025; Q4 2025 net selling price was $222.

  • Q4 2025 US revenues were $13.5 million, with 61,000 prescriptions, including 21% consignment at subsidized prices.

  • Ended Q4 2025 with $11.6 million in cash and cash equivalents, generating $1 million in net cash (excluding $2 million debt refinancing).

Outlook and guidance

  • Expect to remain cash flow positive and achieve EBIT/operating profitability for full year 2026, supported by continued ACCRUFeR/ACCRUFERⓇ growth.

  • Pricing for ACCRUFeR/ACCRUFERⓇ anticipated to fluctuate between $222 and $240 per prescription in 2026.

  • Targeting continued growth in prescriptions and revenues, with a focus on expanding into additional specialties and launching pediatric and international indications.

  • Peak US sales target for ACCRUFeR/ACCRUFERⓇ remains at $450 million, with further growth expected from new indications and expanded prescriber base.

  • Actively seeking to add a late-stage or FDA-approved specialty product to the portfolio.

What drives 2026 operating profit expectation
Why did Q4 net selling price decrease
How much of the $2.3B market is captured
Cash flow positive: How does this enable portfolio diversification
U.S. revenue growth slowing, script growth strong. Why?
Which new market/indication offers biggest upside?
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Frequently asked questions

Shield Therapeutics plc is a specialty pharmaceutical company focused on the development and commercialization of treatments for iron deficiency and related conditions. The company's lead product, Accrufer/Feraccru® (ferric maltol), is an oral iron therapy designed to treat iron deficiency in patients who cannot tolerate traditional iron supplements. Shield Therapeutics operates in Europe and the United States, partnering with healthcare providers and pharmaceutical distributors to expand its market reach. The company is headquartered in Gateshead, United Kingdom, and its shares are listed on the AIM.

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