Allergy Therapeutics PLC Half Year Trading Update & Notice of Results (9580Z)
16 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMAGY
RNS Number : 9580Z
Allergy Therapeutics PLC
16 January 2020
Allergy Therapeutics plc
("Allergy Therapeutics", "ATL" or the "Group")
Half Year Trading Update & Notice of Results
- Strong earnings and market share continues to grow
- Record cash position reflecting continuous performance improvement
16 January 2020 Allergy Therapeutics plc (AIM: AGY), the fully
integrated commercial biotechnology company specialising in allergy
vaccines, today provides a trading update for the six months ended
31 December 2020 ahead of its Half Year Results to be announced on
4 March 2020.
Financials
Reported revenues for the six months ended 31 December 2019 are
expected to have grown to GBP50.5m (2018: GBP46.7m) representing 9%
growth on a constant currency basis (8% on reported basis). The
Group is trading in line with Board expectations. Geographically,
there was growth across all major countries with the best
performances in Germany, Spain, Netherlands and Switzerland.
Product wise, Pollinex Quattro and Venomil continued to progress
well, along with Pollinex, driven by superior technology and a
robust supply chain. The Group continued to gain market share in
Germany.(1)
The cash balance at the end of December 2019 was GBP39.7m (31
December 2018: GBP31.6m) which includes the GBP3.2m received in
settlement of legal costs relating to the litigation with
Inflamax.
On current assumptions, the Group will be able to fund the Grass
MATA MPL Phase III trial currently planned for later this year from
existing resources.
Regulatory
In reference to the Grass MATA MPL Phase III trial, the Group
confirms that it is on track to start the screening for the first
stage of the study during summer 2020, which will be executed in
the USA and the EU. The design of this study in a stepwise approach
(as communicated in November 2019) incorporates the lessons learned
during the analysis of the Birch MATA MPL study. The Group has now
completed and submitted its final report in relation to the Birch
trial and is in dialogue with the correspondent regulatory
authority with regards to that product.
Finally, in reference to the development of its peanut vaccine,
following the scale up process of pre-clinical materials, GMP
batches for commercial development have now commenced. The Group
has support from regulatory authorities to proceed to Phase I which
will follow submission of the clinical trial application, including
the GMP batch data package.
Manuel Llobet, CEO at Allergy Therapeutics, stated: "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."
(1) Insight Health Data November 2019
This announcement contains inside information for the purposes
of Article 7 of Regulatory (EU) No596/2014.
- ENDS -
For further information, please contact:
Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Nick Wykeman, Chief Financial Officer
Panmure Gordon
+44 (0) 20 7886 2500
Freddy Crossley, Emma Earl, Corporate Finance
Erik Anderson, Corporate Broking
Consilium Strategic Communications
+44 20 3709 5700
Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia
Manser
allergytherapeutics@consilium-comms.com
Stern Investor Relations, Inc.
+1 212 362 1200
Christina Tartaglia
christina@sternir.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial
biotechnology company focussed on the treatment and diagnosis of
allergic disorders, including aluminium free immunotherapy vaccines
that have the potential to cure disease. The Group sells
proprietary and third party products from its subsidiaries in nine
major European countries and via distribution agreements in an
additional ten countries. Its broad pipeline of products in
clinical development include vaccines for grass, tree and house
dust mite, and peanut allergy vaccine in pre-clinical development.
Adjuvant systems to boost performance of vaccines outside allergy
are also in development.
Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics
is headquartered in Worthing, UK with more than 11,000m(2) of
state-of-the-art MHRA-approved manufacturing facilities and
laboratories. The Group, which has achieved over 9% compound annual
growth since formation, employs c.500 employees and is listed on
the London Stock Exchange (AIM:AGY). For more information, please
see www.allergytherapeutics.com.
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END
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