Shield Therapeutics, a pharmaceutical company specialising in iron deficiency treatments, has signalled that it remains on track for profitability in 2026, buoyed by rising partner royalties and a steady increase in prescriptions for its flagship product Accrufer.
Revenue and Prescription Growth
In the first half of 2026, Shield’s revenues climbed to $30.4m (£22.6m), up from $21.5m (£15.9m) in the same period last year, representing a 41% increase. Prescription volumes for Accrufer grew by 21% across the period, underscoring the drug’s expanding market penetration. The company also benefited from a $7.9m (£5.8m) milestone payment from its Chinese distribution partner, ASK.
Second quarter trading was more subdued, with group net revenue falling to $11.9m (£8.8m) compared with $14.3m (£10.6m) in the second quarter of 2025. However, management highlighted that the commercial segment—which accounts for roughly two-thirds of total revenue—experienced strong growth during that time.
Accrufer Performance and Regulatory Progress
Accrufer net revenues in Q2 2026 were $10.3m (£7.6m), a decrease from $12.8m (£9.5m) in the same quarter a year earlier. Nonetheless, the number of Accrufer prescriptions dispensed rose to approximately 49,000, compared with 47,000 in Q2 2025, indicating sustained demand.
Shield also updated on regulatory activities. In Japan, partner Medleap Pharma enrolled the first patient in a phase two clinical trial assessing Accrufer for pulmonary arterial hypertension. In the UK and EU, progress was made toward approving Accrufer for paediatric patients aged 12 and older. In the US, an indication extension for patients aged 10 and older was received in April. Additionally, attendance at BIO-Europe and BIO US conferences led to discussions with potential new partners.
New Chief Financial Officer
Shield announced the appointment of Michael Jensen as chief financial officer, effective from September 1. Jensen brings over 20 years of executive financial leadership experience across biopharmaceutical, medical device, and healthcare sectors. He joins from StimLabs, where he served as CFO, and previously held similar roles at Synlogic and Intrinsic Therapeutics. Earlier in his career, he held senior finance leadership positions at Novo Nordisk, Novartis, and Siemens Healthcare Diagnostics.
Anders Lundstrom, Shield’s chief executive officer, commented: "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."
With a clear trajectory toward profitability, bolstered by strong commercial performance and strategic leadership changes, Shield Therapeutics appears well positioned to achieve its financial goals in the coming year.
