- Iron deficiency focused Shield Therapeutics said it had seen minimal disruption commercially from the Covid-19 crisis, though it warned of a fall in revenue due to a disappointing trial result.

Revenue for the year through December was now expected to be £0.7m, down from previous guidance of £2.9m.

The fall followed a recognition in March that the so-called AEGIS-H2H study had not met its primary end-point and repayment to Norgine a €2.5m milestone.

Cash at the end of March was £11.3m and the company said its cash runway extended into the first quarter of 2021.

'The business has continued to operate effectively since the introduction of the lockdown in the UK,' Shield said.

'Whilst we have closed both our London and Newcastle offices, all of our employees are able to continue working from home successfully.'

'Generally, we are finding that the businesses with which we have close relationships are also continuing to operate effectively and so we have seen minimal disruption to our commercial progress.'

Shield said it was continuing to devote significant effort to secure a commercialisation partner for the US.

'There continues to be significant interest from a range of companies in licensing Accrufer for commercialisation in the US and we have been able to advance discussions with interested parties in recent weeks,' it added.

'We look forward to providing further updates in due course.'

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