Allergy Therapeutics agrees refinancing package
Allergy Therapeutics PLC, which is headquartered in Worthing, West Sussex and employs around 500 people, develops inoculations against common allergies
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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Allergy Therapeutics PLC, which is headquartered in Worthing, West Sussex and employs around 500 people, develops inoculations against common allergies
"This exploratory grass trial will drive study design innovation in the allergy field and is an important intermediate step for the optimisation of our upcoming pivotal phase III grass field trial, which will maximise the chances of success
Bee sting treatment Venomil continued to grow very strongly, said Allergy
The company is currently developing a peanut allergy inoculation based on technology pioneered by Saiba and DeepVax
Net revenues for the 12 months ended June 30 were £78.2mln, up 6% year-on-year
“We remain committed to Birch MATA MPL, especially considering the results of the independent secondary endpoint data and the supportive safety profile observed in the B301 study and two successful phase II trials showing significant primar
The broker now expects profits to around £5m higher than its previous forecasts at £2.9m.
The update was provided in a brief trading statement
“We have developed biodegradable adjuvants that make allergy treatment more efficient than ever - a key technology in our pioneering approach to the development of innovative treatments for allergy patients"
The company ended the half-way period in a strong cash position with just under £40mln in the bank
The data from the firm’s early-stage study was carried in The Journal of Allergy and Clinical Immunology
Revenues rose by 9% in the six months to December to £50.5mln
It has done so after consulting experts and taking on board feedback from its phase III Birch MATA MPL trial
The vaccines specialist weighed in with an 8% boost to revenues on a constant currencies basis to £73.7mln, giving ‘pre-R&D’ operating earnings of £11.3mln, up 22%
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