Interim report
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SHIELD THERAPEUTICS PLC Improving Lives Together Shield Therapeutics plc ( " Shield " or the " Company " or the " Group " ) Half - year Report Interim Report for the six months ended 30 June 2021 Six month period dominated by preparation for launch of AccruferⓇ in US London , UK , 17 August 2021 : Shield Therapeutics plc ( LSE : STX ) , a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product FeraccruⓇ / Accrufer® ( ferric maltol ) , announces its unaudited interim results for the six months ended 30 June 2021 . Operational Highlights ( including post - period end ) • • • AccruferⓇ launched in US on 1 July 2021 51 % growth in FeraccruⓇ sales volumes in Europe compared with H2 2020 Chinese authorities confirm regulatory approval pathway for FeraccruⓇ in China First stage of FeraccruⓇ / AccruferⓇ paediatric study completed License deal for development and commercialisation of Accrufer® in Republic of Korea secured ( August 2021 ) Financial Highlights • Revenues of £ 0.5 million ( H1 2020 : £ 8.9 million ) Loss for the period of £ 7.3 million ( H1 2020 profit : £ 3.1 million ) Net cash outflow from operating activities of £ 8.0 million ( H1 2020 : £ 2.0 million inflow ) £ 27.7 million net proceeds from placing , subscription and open offer in March 2021 Cash balance at 30 June 2021 £ 22.6 million ( 31 December 2020 : £ 2.9 million ) Commenting on the interim results , Greg Madison , CEO of Shield , said “ The first six months of 2021 have been a truly pivotal and exciting period for Shield which opens up the prospect of substantially greater shareholder value for investors . During the first quarter the Group's US strategy transitioned from an out - licence approach to one of launching AccruferⓇ ourselves in the US , and the successful fundraise in March 2021 provided the financial resources for the launch . In the second quarter a huge amount of planning and implementation was completed which allowed us to launch AccruferⓇ on 1 July 2021 and I am pleased with progress to date . With Accrufer® now available in the US , and FeraccruⓇ available in Europe , I am excited about the long - term prospects for our product ( s ) and Shield . " Analyst briefing A briefing open to analysts will take place remotely via video conference call today , Tuesday , 17 August 2021 at 2.00pm BST / 9.00am EST . If you would like the details of this call please contact Walbrook PR on shield@walbrookpr.com . For further information please contact : Shield Therapeutics plc Greg Madison , CEO www.shieldtherapeutics.com +44 ( 0 ) 191 511 8500 Hans - Peter Rudolf , CFO Nominated Adviser and Joint Broker Peel Hunt LLP James Steel / Christopher Golden +44 ( 0 ) 20 7418 8900 Joint Broker finnCap Ltd +44 ( 0 ) 20 7220 0500 Geoff Nash / Alice Lane / George Dollemore