07:00 Wed 13 Jan 2021
Allergy Therapeutics - Half Year Trading Update 2021 & Notice of Results
Allergy Therapeutics plc
("Allergy Therapeutics", "ATL" or the "Group")
Half Year Trading Update 2021 and Notice of Results
- Robust sales growth over challenging period
- Record cash position
- Initial Grass MATA MPL Phase III trial progressing well
- Encouraging trial results for ImmunoBON which will be launched in
Financials
The Group is trading in line with Board expectations, with reported revenues for the six months ended
The Group has continued to generate good cash conversion, with a record cash balance at the end of
On current internal assumptions, the Group will be able to fund the Grass MATA MPL Phase III trials, as well as the peanut allergy vaccine candidate Phase I trial, from existing resources.
Regulatory
The Group is progressing well with recruitment and treatment of patients in the exploratory field study (G309) of the Grass MATA MPL development programme, which began in
The results of a successful allergy trial in a challenge chamber for ImmunoBon, our protein-based oral product for the general treatment of allergies which we acquired exclusive rights to in 2020, were published in the World Allergy Organisation Journal1 earlier this month. These show a significant improvement compared to baseline, while maintaining an excellent safety and tolerability profile. The product will be launched in
Finally, as announced earlier this month, the ex-vivo study with VLP Peanut, evaluating an innovative panel of biomarkers using blood samples from peanut allergic patients has started, in collaboration with Imperial College London. The results of this study are expected in the spring of 2021.
Board
After 17 years,
Peter Jensen, Chairman at Allergy Therapeutics, stated: "I would like to thank
1 World Allergy Organisation Journal,
This announcement contains inside information for the purposes of Article 7 of Regulatory (EU) No596/2014.
- ENDS -
For further information, please contact:
Allergy Therapeutics
+44 (0) 1903 845 820
Nick Wykeman, Chief Financial Officer
Panmure Gordon
+44 (0) 20 7886 2500
Consilium Strategic Communications
+44 20 3709 5700
allergytherapeutics@consilium-comms.com
Stern Investor Relations, Inc.
+1 212 362 1200
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The Group sells proprietary and third-party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development include vaccines for grass, tree and house dust mite, and peanut allergy vaccine in pre-clinical development. Adjuvant systems to boost performance of vaccines outside allergy are also in development.
Formed in 1999 out of
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