Q4 2025 Trading Update

0:00 Introduction

5:27 Market opportunity

6:54 Portfolio Overview

10:37 Marketing Highlights

23:03 2026 Business Priorities

26:36 Q&A

Shield Therapeutics PLC (STX:AIM) provided a detailed investor update covering Q4 and full-year 2025, highlighting strong company performance, accelerating US commercialization, and a pivotal shift to cash flow positivity. The specialty pharmaceutical group, focused on iron deficiency (ID) and iron deficiency anaemia (IDA), reported total 2025 revenues of nearly $50 million, including $46 million from its flagship product Accrufer®/Feraccru®, representing 56% year-on-year growth in the US. Nearly 200,000 prescriptions were dispensed during the year, up 33%, supported by a higher net selling price of approximately $223 and continued gains in market access, establishing Accrufer as the number one branded prescription oral iron in the US. The company turned cash flow positive in Q4 2025 for the first time, ending the year with $11.6 million in cash, improved debt terms, and expanded financial flexibility to support growth and potential M&A. Shield outlined a clear growth strategy focused on increasing awareness through direct-to-consumer marketing, expanding prescriber reach across primary care, women’s health and select specialists, improving reimbursement and prior authorisation processes, and driving further prescription growth. International expansion also progressed, with launches in Canada, regulatory approvals in South Korea and paediatric indications in the US, filings planned in China, and a Phase II trial underway in Japan. Looking ahead, Shield targets continued revenue growth, improved margins, EBIT profitability in 2026, and portfolio diversification through additional products alongside Accrufer.