Shield Therapeutics has announced its 4Q25 trading update, achieving the milestone of positive operating cash flow during the quarter and announcing it expects to deliver an operating profit in FY26. Total revenues for FY25E are expected to be c$50m against our $54.6m estimate, with 4Q25 seeing a reduction in the average net selling price to $222 (4Q24: $237) and total prescriptions for the year coming in at c199,000. While the absolute quantum of commercial sales was lower than we’d hoped in th ....
