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Home/News Feed/Shield Therapeutics shares drop 12% after Q1 revenue rise but US Medicaid concerns and CFO exit weigh
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Shield Therapeutics shares drop 12% after Q1 revenue rise but US Medicaid concerns and CFO exit weigh

Market News
01 May 2026
Proactive Investors
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Bearish
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Shield Therapeutics reported a 12% share drop despite Q1 revenue doubling to $18 million and turning a profit with $2.5 million EBIT. Sales of its main product ACCRUFeR rose 54%, but new Medicaid prior authorization in New York, which accounts for 19% of sales, poses a risk. CEO Anders Lundstrom plans to focus on commercially insured patients to mitigate this. CFO Santosh Shanbhag will step down in June, with Lundstrom acting as interim CFO while a replacement is sought. Cash reserves slightly increased to $12.4 million by March end.

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