Shield Therapeutics said it will no longer reach profitability this year after failing to achieve the desired effects of taking full control of its iron-deficiency drug in the United States.
The pharmaceutical company said sales of its drug ACCRUFeR continued to grow, with US net revenue up 5% to $10.8m in the third quarter and average revenue per prescription up 4% to $217.
It has shifted its focus toward commercially insured patients and away from the Medicaid programme after prior authorisation requirements in New York hit Medicaid prescriptions; commercial prescriptions rose 17% between the first and third quarters.
From 1 October, Shield took over full commercial responsibility for ACCRUFeR in the US, including its entire sales force, which it said would improve its margins and reduce the royalties it pays.
However, the associated costs, including an expanded sales team, mean it now expects a small loss for 2026, rather than the operating profit it had previously guided to. It said achieving sustainable profitability remained its priority.
Anders Lundstrom, Chief Executive Officer, said: “In Q3 we continued to make strategic progress to position the Company for long-term growth. Our commercial business continues to grow while successfully completing the transition to full US control of ACCRUFeR®.
“The increasing proportion of commercial prescriptions and continued improvement in net price per prescription and revenue demonstrate the strength of our strategy and the growing quality of our revenue base.”