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Allergy Therapeutics sees sales grow in all countries

Revenues rose by 9% in the six months to December to £50.5mln

Allergy Therapeutics PLC -
Phase III trial will cover two pollen seasons

Allergy Therapeutics PLC (LON: AGY) has continued to notch up good growth while it prepares for the phase III trial of its hay fever vaccine later this year.

Revenues in the six months to December 31 2019 rose by 9% to £50.5mln with growth across all major countries, though Germany, Spain, Netherlands and Switzerland did the best.

The group's Pollinex Quattro and sting treatment Venomil were the best performers.

Cash at the end of December was £39.7mln which will suffice to fund the Grass MATA MPL Phase III trial, the company said.

Allergy recently took the decision to split this trial over two years to assess its efficacy during two pollen seasons.

The split option also gives it an opportunity to assess progress at the trial’s halfway point. 

Allergy said it has also now received regulatory support for a phase I trial of a new peanut allergy vaccine. 

Manuel Llobet, the firm's chief executive, said: "This represents another six months of consistent growth reflecting the quality of our platform and our team.

“Despite an evolving regulatory environment, we continue to perform well and we have great confidence in our commercial abilities and clinical pipeline."

Quick facts: Allergy Therapeutics PLC

Price: 11.15 GBX

AIM:AGY
Market: AIM
Market Cap: £70.93 m
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