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Greg Madison, CEO of Shield Therapeutics discusses how 2022 was a landmark year for Accrufer® and their Viatris collaborative sales agreement in December has set the company up for a strong growth in 2023.
FINANCIAL HIGHLIGHTS
Total Revenue of £8.5 million (FY21: £1.5 million) including:
· Net product revenue of £2.8 million from sales of Accrufer® in the US (FY21: £0.1 million)
· Royalty revenue of £1.3 million from product sales in Europe (FY21: £0.9 million)
· Upfront payments of £4.2 million from Viatris and £0.2 million from KYE Pharma on signing of the license agreement for commercialization in Canada (FY21: £0.5 million from Korea Pharma)
Total Financing of c.£30 million (including gross funds received post period):
· US$36.7 million (gross proceeds, comprised of US$21.7 million from placing and open offer, US$5 million upfront payment from Viatris and US$10 million additional borrowings under the amended convertible shareholder loan facility from AOP Health)
· Cash resources sufficient to support operations through to cash flow break-even by end of 2024
To read the full RNS click here