leadf
logo-loader
viewAllergy Therapeutics PLC

Allergy Therapeutics PLC grows in Europe and targets US

Revenue in the six months to December 31 rose 12% to £31.5mln

shutterstock_228844273.jpg
Allergy Therapeutics hopes to expand vaccine business in the US

Allergy Therapeutics PLC (LON:AGY) reported higher revenues and said it had relaunched plans to enter the US market in 2019.

The allergy vaccine specialist said revenue in the six months to December 31 rose 12% to £31.5mln as its share of all major markets increased.

It started a US phase II study for its GrassMatampl product in December and said it was on track for data read-out in the second half of this year.

The group is also expecting the results of its PQ Birch204 Phase II study, for which patient enrolment is complete, in the second half.

It has restarted clinical development plans, aiming to enter the US market following Food & Drug Administration approval in 2019, thereby becoming the first company to launch a subcutaneous vaccine in the seasonal segment of the US allergic rhinitis market.

Chief executive Manuel Llobet said the company's US commercialisation strategy was where significant growth potential lies and its strengthened balance sheet left it well-placed to build a strong allergy business.

"The first half of this year has seen continued momentum with our product sales continuing to outperform the market with further market share gains across Europe," he said.

"Our business is gaining significant scale and momentum in Europe through both organic and acquisitive growth.

"We expect this to continue as we further invest in our commercial infrastructure and prepare to take our products over to the US."

Quick facts: Allergy Therapeutics PLC

Price: 17.75 GBX

AIM:AGY
Market: AIM
Market Cap: £113.12 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Allergy Therapeutics PLC named herein, including the promotion by the Company of Allergy Therapeutics PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: Coronavirus vaccine update sparks FTSE 100 rally

Headlines from the Proactive UK newsroom. The FTSE 100 rallied 60 points to 6,240 on COVID-19 vaccine hopes. US group Moderna’s early stage trial of a coronavirus vaccine proved safe and sparked some immune response. UK inflation picked up to 0.6% led by demand for online computer games...

on 15/7/20

2 min read