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Allergy Therapeutics full-year revenues to rise once again despite “unusually weak” pollen season

The allergy vaccines maker expects to report a 6.6% rise in revenues for the year ended June 30
young girl with allergy
Results from a phase III trial of its birch pollen vaccine are due within the next few months

Allergy Therapeutics plc (LON:AGY) expects its top-line to jump once again this year, despite an “unusually weak” pollen season.

As the name suggests, the AIM-quoted firm makes vaccines which are used to treat pollen-related allergies, particularly allergies to grasses and trees.

READ: AGY readies grass pollen treatment for phase III trial

In a year-end trading update, Allergy told investors that revenue for the 12 months to June 30 should grow 6.6% to £68.3mln (2017: £64.1mln), in-line with current expectations.

The cash balance at the end of June was £15.5mln (June 30 2017: £22.1mln).

Allergy added that it has continued to gain market share within its core markets with data for the nine months through to the end of March showing an increase of 0.7 of a market share point.

As for pipeline, that continues to “progress well”. The company is readying its latest grass pollen-induced hay fever immunotherapy for phase III trials after announcing “extremely positive” results from a -mid-stage study back in May.

‘Strong performance’

Results from a phase III trial of its birch pollen vaccine are due in the current quarter (Q3 2018) as well.

“Our convenient, flexible and varied product portfolio has enabled us over the past 19 years to grow revenues at 10% compound annual growth rate,” said chief executive Manuel Llobet.

“We are pleased that we have continued to make headway in market share this year, despite a poor pollen season, and have maintained a tight control on costs in the period.”

He added: “Our pipeline continues to progress well, with the announcement of excellent Grass phase II results, the publication of significant papers on the long-term effect of our product and the positive Birch phase II trials.”

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