Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF) shares gesundheited 23% higher to a six-month peak of 1.83p after the company reported success from a pivotal phase III trial to test its grass allergy vaccine, Grass MATA MPL.
This short-course subcutaneous allergen-specific immunotherapy (SCIT) candidate aims to address the cause of symptoms of allergic rhinoconjunctivitis – runny and itchy eyes and nose, in other words – due to grass pollen.
Carried out at 89 sites around Europe and the US, the randomised trial met its primary endpoint by demonstrating statistically significant superiority of Grass MATA MPL compared to placebo in the Combined Symptom & Medication Score (CSMS) during the peak pollen season, and the study was stopped for success.
Top-line analysis is expected to be available in the middle of next month.
"This result builds upon the statistical significance also seen in the earlier G3091 field study and, subject to full top line analysis, we look forward to commencing discussions with relevant regulatory authorities to continue our journey to bring this important product to market," said chief executive Manuel Llobet.