Shares in Allergy Therapeutics PLC (AIM:AGY) rose 9% in early trade after the group said the US regulator had given the green light for trials to begin on its short-course peanut allergy vaccine candidate.
The clearance of an investigational new drug (IND) application for the jab by the Food & Drug Administration paves the way for the company’s phase I PROTECT trial, which will be run in the States.
Top-line data from the study are expected in the first half of next year, earlier than the originally intended readout, which was scheduled for the fourth quarter of 2023.
Chief executive Manuel Llobet said: "We have achieved a key milestone with the FDA's clearance of our IND application and look forward to advancing our innovative peanut allergy vaccine candidate into the clinic.
“We are now one step closer to bringing to patients a safe and effective short-course vaccine with the potential to provide long-term protection and a long-lasting protective immune response. I am excited to see the start of the PROTECT trial later this year."
Peanut allergy is one of the most common types of food allergy and its symptoms can range from mild to severe and life-threatening.
In the US, it was the most common cause of severe and fatal food-induced anaphylactic reactions.
The shares opened 2.22p higher at 25.97p.
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