Allergy Therapeutics lands new £10mln financing facility
The new facility will run for up to five years and provides greater security.
Company
LON:AGY
Allergy Therapeutics PLC is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The company sells proprietary and third-party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries.
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The new facility will run for up to five years and provides greater security.
Top-line data from the study are expected in the first half of next year, earlier than the originally intended readout
House broker finnCap left its target price of 65p unchanged following the half-year results.
The company is kicking on with work on key treatments for grass pollen and peanut allergies
The treatment led to a “clinically relevant improvement” symptoms, investors were told
Next major milestones include results from the grass field trial in the autumn and a meeting with the US drug regulator for VLP Peanut ahead of the expected start of its peanut allergy study next year
ImmunoBON was voted Most Innovative Product 2021 at the Pharma Trends Image and Innovation Awards
"These results provide strong confidence in the beneficial immunologic mode of action of VLP Peanut”
The UK's premier share index finished down on Friday around 25 points, or 0.36%, at 7,138
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The first Friday of the month means the US jobs report covering the preceding month. Wednesday's ADP payrolls report came in well short of expectations but it is rarely a reliable guide to the official figures
"There is substantial potential upside as VLP Peanut progresses through the clinic"
The findings support the VLP Peanut first-in-human Phase I study design, which is on track to start in the first quarter of next year
In the latest update, it told investors revenues, with an 8% rise to £84.3mln for the 12 months to June 30, would beat forecasts
Chief executive Manuel Llobet said: “Our research programmes are going beyond symptom management, to focus on directly treating the cause of allergy"
Looking ahead, net sales for 2022 are expected to grow at low single-digit levels
Its Pollinex Quatro platform comprises four to six jabs, against up to 15 for rival injections
Results are due in the second half and will be used to design the company's phase III trial of Grass MATA MPL
Allergy cited top-line momentum and operational efficiency for the strong growth in profitability
Allergy says it is fully funded for two crucial upcoming clinical trials from its own resources
The work is being carried out by researchers from Imperial College London