Shield Therapeutics (STX) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue reached $18.4 million, with $9.9 million from Accrufer and a $7.9 million milestone payment from China; EBIT profitability achieved, reversing a prior year loss.

• Accrufer prescriptions grew 44% year-over-year to 53,000 in Q1 2026, with March accounting for nearly 46% of Q1 net product revenues.

• Cash and cash equivalents increased to $12.4 million at quarter-end.

• CEO Anders Lundstrom will serve as interim CFO following the planned departure of CFO Santosh Shanbhag effective June 1, 2026.

• Continued global expansion with regulatory progress in China, Korea, Japan, and EMA approval for pediatric use in children over 12.

Financial highlights

• 2025 revenue reached $50 million, up 54% from 2024, with $46 million from U.S. Accrufer sales.

• Q1 2026 net revenue was $18.4 million, up from $7 million in Q1 2025.

• EBIT turned positive at $2.5 million in Q1 2026, compared to a $4.4 million loss in Q1 2025, aided by a $7.9 million China milestone payment.

• Cash and cash equivalents stood at $12.4 million as of March 31, 2026.

• Q1 2026 Accrufer net selling price was $190, slightly up from $187 in Q1 2025.

Outlook and guidance

• Focused on growing U.S. Accrufer revenues, achieving full-year profitability, and diversifying revenue streams.

• No formal revenue guidance provided, but broker forecasts are considered reasonable.

• Targeting peak revenue of $450 million, with growth dependent on increased marketing investment and awareness.

• Sales efforts are being redirected toward commercial plans in New York to offset Medicaid prior authorization impact.

• Consignment-based prescriptions, not reimbursed by payors, are expected to decrease over the year.