Hardman & Co Research
Hardman & Co: FDA approval opens door to major US opportunity
Shield Therapeutics (STX) is a commercial-stage pharmaceutical company delivering specialty products that address patients' unmet medical needs, with an initial focus on treating iron deficiency (ID) with Feraccru(R)/Accufer(R). News that the FDA has approved this drug for a broad indication opens it up to a commercial market worth over $1bn. STX has been in discussions with a number of potential partners, but its hand has been strengthened by the regulatory de-risking of Accufer. Its USP will be that oral Accufer is as effective as intravenous iron. The market capitalisation equates to only 4.4x in-market sales.
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