India, May 1 -- Shield Therapeutics plc (STX.L), a pharmaceutical company, on Friday reported positive EBIT for the first quarter, compared to a loss last year, supported by a significant milestone payment and strong year-on-year growth in group net revenues.
The company also announced that CFO Santosh Shanbhag will step down on June 1 to pursue a new role. CEO Anders Lundstrom will serve as interim CFO while the company searches for a permanent successor.
On the LSE, shares of Shield Therapeutics were losing 11.20 percent, trading at 7.77 pence.
EBIT was around $2.5 million versus a $4.4 million loss in the prior year, primarily driven by the $7.9 million development milestone payment by ASK in China, and increased ACCRUFeR sales in the...