Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF) said it is back on track and growing again after the financial and operational challenges of recent years.
Interim revenues to 31 December 2024 are expected to be £34 million, up by 2% and the second consecutive half of growth, with volumes up by 5% as its manufacturing capability recovers after the previous disruption.
Manuel Llobet, chief executive of the hay fever treatment specialist, added: "We enter 2025 building strong momentum across all aspects of our business.
“Our return to first-half growth and strengthened position, having secured the Hayfin facility in late 2024, give us the confidence and financial stability to further our ambitious strategy.
The submission of a Marketing Authorisation Application for Grass MATA MPL and initiation of the G308 paediatric trial represent significant steps forward in our grass allergy programme.
“Meanwhile, encouraging interim analysis data from our VLP Peanut programme has demonstrated meaningful reductions in skin sensitivity, reinforcing our confidence in the transformational potential of our peanut allergy vaccine candidate
The cash balance on31 December 2024 was £21.7 million (30 June 2024: £12.9 million) having strengthened its cash position during the period with a new £40m facility from Hayfin Healthcare Opportunities and agreements with major shareholders SkyGem Acquisition Limited and Southern Fox.
With £20 million of uncommitted Hayfin funding, Allergy said it has access to a total of £47.5m of uncommitted facilities.