Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF, FRA:HHU), the immunotherapy company, expects commercial momentum to build through the second half of its financial year as its newly launched Grassmuno grass pollen treatment gains traction in Germany, while planning advances for a phase IIb trial of its short-course peanut allergy vaccine candidate.
Grassmuno, an injected grass pollen allergen immunotherapy that received German regulatory approval during the period, launched in January 2026 and has seen a strong early response from prescribing clinicians, with the company describing it as an expected major driver of revenue in its largest market.
The company also reported that its VLP Peanut candidate met the primary safety endpoint in the Phase I/IIa PROTECT trial, with preliminary data from 48 participants showing a 2,000-fold increase in dose was safe and well tolerated, alongside a strong immunomodulating response in peanut-allergic patients.
Post-period, Allergy Therapeutics drew down a new £40 million senior secured facility with Hayfin Capital Management, replacing a previous arrangement and providing what the company said are sufficient funds for the entirety of its 12-month going concern review period.
The company is also exploring a dual primary listing on the Hong Kong Stock Exchange.
Revenue for the six months to 31 December rose 7% to £36.3 million, or 2.5% on a constant currency basis, despite ongoing disruption from Germany's TAV programme, which is phasing out unregistered allergy treatments.
Increased investment in the Grassmuno launch and higher research and development spending on the G308 paediatric Phase III trial and the PROTECT trial pushed the operating loss before R&D to £2.5 million, from a £1.9 million profit in the same period a year earlier.
Cash stood at £10.1 million at 31 December, before the post-period Hayfin drawdown.