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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Shield Therapeutics
Shield Therapeutics (STX) investor relations material
Shield Therapeutics Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary3 Nov, 2026
Executive summary
Q3 net revenue increased 2% QoQ excluding Q2 milestone revenue; commercial prescriptions and net revenue per prescription improved.
Full U.S. commercial responsibility began October 1, improving revenue retention and gross-margin economics; FY 2026 guidance shifted to a single-digit US$ million operating loss.
Financial highlights
Q3 net revenue was $11.5m versus $11.9m in Q2, which included a $0.6m milestone; excluding milestones, revenue rose 2% QoQ from $11.3m.
U.S. ACCRUFeR revenue rose 5% QoQ to $10.8m from $10.3m; net revenue per prescription increased 4% to $217 from $208.
Ex-U.S. revenue was $0.7m versus $1.0m in Q2; 9M 2026 revenue was $41.9m, including a milestone.
Quarter-end cash was $6.8m, down $1.5m from June 30; cash use was mainly attributed to working capital, and no credit-facility draw was made.
Outlook and guidance
FY 2026 operating profitability is no longer expected; guidance anticipates a single-digit US$ million operating loss, primarily reflecting increased commercial costs after full U.S. control.
Q4 is expected to be the first quarter with the lower Viatris royalty rate and full U.S. economics; commercial growth and cost discipline remain priorities.
FY 2027 guidance is due with the Q4 and FY 2026 update; sustainable profitability as soon as possible remains the Board’s priority.
Korea and China could launch in 2027; China timing could shift to 2028 depending on regulatory approval, reimbursement filings and achievable pricing.
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Latest events from Shield Therapeutics
- Full U.S. control of ACCRUFER nearly doubles EBIT and expands gross margins in a $2.3B market.STX
Status update - Revenue up 42% to $30.4M, prescriptions up 21%, and operating profit achieved in H1 2026.STXH1 2026
- H1 2026 revenues rose 41% to $30.4M, with strong commercial growth and expanded indications.STXQ2 2026 TU
- Q1 2026 revenue and prescriptions surged, with profitability driven by a China milestone.STXQ1 2026 TU
- Q1 2026 revenues surged 54% for ACCRUFERⓇ, with positive EBIT and global regulatory advances.STXTrading update
- Record revenue growth, cash flow positivity, and global expansion position for 2026 profitability.STXH2 2025
- Cash flow positive in Q4 2025, 56% revenue growth, and ACCRUFeR/ACCRUFERⓇ leads US oral iron market.STXQ4 2025 TU
- H1 2024 revenues tripled to $12.1M on US growth; break-even targeted for H2 2025.STXH1 2024
- 146% revenue growth and improved margins set the stage for cash flow positivity by end of 2025.STXH2 2024
Shield Therapeutics
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Frequently asked questions
Shield Therapeutics plc is a specialty pharmaceutical company focused on the development and commercialization of treatments for iron deficiency and related conditions. The company's lead product, Accrufer/Feraccru® (ferric maltol), is an oral iron therapy designed to treat iron deficiency in patients who cannot tolerate traditional iron supplements. Shield Therapeutics operates in Europe and the United States, partnering with healthcare providers and pharmaceutical distributors to expand its market reach. The company is headquartered in Gateshead, United Kingdom, and its shares are listed on the AIM.