---
title: "Shield Therapeutics Reports Nearly Tripled Revenues in 2023"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-05-12T10:13:26+00:00"
modified: "2024-05-12T10:15:02+00:00"
date: 2024-05-12
canonical: "https://stockmark.it/shield-therapeutics-reports-nearly-tripled-revenues-in-2023/"
category: "Pharmaceutical"
categories: ["Pharmaceutical"]
format: "news"
language: "en-GB"
---

# Shield Therapeutics Reports Nearly Tripled Revenues in 2023

**Published:** May 12, 2024
**Author:** Stockmark.IT Website
**Categories:** Pharmaceutical

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Shield Therapeutics, a pharmaceutical company focusing on iron deficiency treatments, has reported a significant increase in revenues for the year 2023. The company’s sales of its Accrufer/Feraccru iron deficiency treatment surged in the US market, resulting in revenues reaching US$17.5 million. This represents a remarkable 2.8 times increase compared to the previous year, with US sales of Accrufer soaring over three times to US$11.6 million.

Despite the growth in revenues, Shield Therapeutics reported operating losses of US$31.3 million, a decrease from US$49.8 million in the previous year. The company closed the year with cash and equivalents amounting to US$13.9 million.

Shield Therapeutics expressed optimism about the future, stating, “We have dramatically increased the number of prescriptions for Accrufer in the US as we continue to build awareness of the product and enhance our commercial efforts.” The company anticipates further improvement in commercial execution as it approaches the one-year anniversary of its full commercial launch with partner Viatris in 2024.

Looking ahead to 2024, Shield Therapeutics aims to complete its pediatric study, which is expected to create expansion opportunities in both the US and the EU in the following years. By expanding its product portfolio and geographical reach, the company is positioning itself for sustained growth and success in the iron deficiency treatment market.

As Shield Therapeutics continues to advance its commercial initiatives and expand its product offerings, the company is poised to solidify its position as a key player in addressing iron deficiency and improving patient outcomes. With a strong foundation in place and a commitment to innovation, Shield Therapeutics is well-positioned for continued success in the years to come.

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