Shield Therapeutics signals it is on track for profitability

The pharma firm has appointed Michael Jensen as chief financial officer

Iron deficiency drugs specialist Shield Therapeutics says it is on track for profitability this year as it was spurred by higher partner royalties.

The pharmaceuticals firm – which has part of its operation on Tyneside – said first half revenues increased to $30.4m (£22.6m) from $21.5m (£15.9m) as it saw 21% growth in prescriptions across the period. Shield was also helped by a $7.9m (£5.8m) payment milestone from its Chinese distribution partner ASK.

Second quarter trading was softer with a fall in group net revenue to $11.9m (£8.8m), compared with $14.3m (£10.6m) in the same period last year. Nevertheless, bosses told investors there had been strong growth in the commercial segment in that time.

Accrufer, the group’s flagship tablet for fighting iron deficiency, saw net revenues of $10.3m (£7.6m) in Q2. That was down on $12.8m (£9.5m) in the same period last year, though Accrufer saw increased prescriptions dispensed of about 49,000, compared with 47,000 in Q2 2025.

Shield executives also gave updates on efforts to secure regulatory approval for its products in various countries. In Japan, partner Medleap Pharma saw its first patient enrolment for phase two clinical trial for Accrufer as a drug to treat pulmonary arterial hypertension. And in the UK and EU, there was progress in approving its drugs for paediatric patients of 12 years-old and older.

Launch of the “indication extension” – a formal regulatory process – for paediatric patients of 10 and older was received in the US in April. Bosses also said Shield’s attendance at global conferences BIO-Europe and BIO US resulted in discussions with potential partners.

Meanwhile, Shield also announced the appointment of Michael Jensen as chief financial officer, joining the company from September 1. He is said to bring more than 20 years’ of executive financial leadership experience in the biopharmaceutical, medical device, and healthcare sectors.

Mr Jensen joins Shield from StimLabs, where he served as chief financial officer, and previously held CFO positions at Synlogic and Intrinsic Therapeutics. Earlier in his career, he held senior finance leadership roles at Novo Nordisk, Novartis, and Siemens Healthcare Diagnostics.

Anders Lundstrom, chief executive officer, said: “We are pleased with the significant growth in our largest business segment, commercial, which represents two-thirds of total revenue, alongside strong overall prescription growth. Our prior experience in Texas, pivoting from Medicaid to commercial, gives us confidence in this strategy.

“I am also excited to welcome Michael Jensen as our new CFO. His experience will strengthen our leadership team and support the financial and operational transformation as we drive toward profitability in 2026.”