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Greg Madison, CEO of Shield Therapeutics #STX discusses the progress on the commercialization of their lead product Accrufer®/Feraccru® in the U.S.
Trading Update Highlights - Unaudited, Revenue and Cash for the year ended 31 December 2021:
Total Revenue of £ 1.5 million in line with market expectations (FY20: £10.4 million) including:
· Net product revenue of £ 0.1 million from U.S. product sales (FY20: nil)
· Royalty revenue of £ 0.9 million from product sales in the EU (FY20: £0.7 million)
· Milestone payments of £ 0.5 million from the upfront payment of Korea Pharma on signing of the license agreement for commercialization in the Republic of Korea (FY20: £9.7 million from ASK Pharma in China)
Cash on hand of £ 12.1 million (30 June 2021: £22.6 million; 31 December 2020: £2.9 million)
U.S. Update: Shield launched Accrufer® in July, 2021 and reports:
· Payer coverage increased since last update in December, now covering 60 million commercial lives resulting from several additional contracts being executed including Cigna, Humana, and Highmark
· Awareness of Accrufer® among target prescribers doubled since launch to 65%
· Healthcare professionals generated approximately 2500 prescriptions for Accrufer® since launch into our patient assistance and reimbursement hub with significant growth seen from 3rd quarter to 4th quarter