Shield Therapeutics PLC saw its shares jump by 11% after the FDA extended exclusivity for Accrufer until December 2028. This additional protection, along with existing patent coverage, shields the product from generic competition in the US market. Broker Cavendish reiterates a buy rating, citing long-term outlook strength and positive trial results in children.

The FDA’s decision to extend exclusivity for Accrufer validates Shield’s clinical strategy and late-stage data package. Positive results from the FORTIS trial supported the expansion of the product’s indication to include children aged 10 and older. Recent operational progress, including positive cash flow and guidance for future profitability, further bolster the company’s investment case.

Cavendish highlights Shield’s operational momentum, expansion into China, and balance sheet simplification as factors that strengthen the investment case. The broker maintains a ‘buy’ recommendation and a target price of 23p. Despite an initial 11% surge in share price, Shield’s stock settled at 10.14p, representing a 5% increase on the day.

Read more at Yahoo Finance: Shield shares jump after FDA extends Accrufer exclusivity