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Share Price:
3.075
Bid:
2.95
Ask:
3.20
Change:
0.245 (8.52%)
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0.25 (8.475%)
Open:
2.875
High:
3.12
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Prev. Close:
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Don't have an account? Click here to register.Allergy Therapeutics profits rise as it spends less on R&D
Wed, 06th Mar 2019 10:19
(Sharecast News) - Specialty pharmaceutical group Allergy Therapeutics announced its unaudited interim results for the six months ended 31 December on Wednesday, reporting a 10.6% improvement in revenue on both a reported and constant currency basis, to £46.7m.The AIM-traded firm said pre-research and development operating profit was 27% higher at £15.7m, which the board said was largely the result of investment in the commercial business last year, and a higher gross margin.Research and development expenditure was lower at £5.0m, compared to £5.9m in the first half of the prior year, which was put down to a lower level of activity.Cash balances stood at £31.6m, up from £15.5m at the end of June.Allergy Therapeutics completed an oversubscribed equity raise of £10.6m gross in July, to support the development of the group's clinical pipeline.It said it increased its market share in Germany to 14.5% from 13.7% year-on-year, adding that the breadth of its portfolio was demonstrated by "strong performance" from ultra-short course products as well as venom and modified allergen house dust mite therapies.During the period, it completed the PQ Birch phase 3 trial, with a data readout expected before the end of the first quarter of 2019.It also said the scale-up of Polyvac Peanut was progressing well, with the intention to begin a first-in-human trial in 2019.The modified allergen house dust mite phase 1 trial had completed last patient last treatment, the firm said, with readout expected in the first half of 2019."The group has made a strong start to the financial year," said chief executive officer Manuel Llobet."Our ultra-short course products continue to drive good sales growth in a relatively flat market and the group's pre-research and development operating profit has increased as a result of investment into our commercial business last year and our focused sales and marketing strategy."Llobet said 2019 would be a "very important year" for the group and, in particular, its ultra-short course technology platform, with the start of the pivotal phase 3 Grass MATA MPL trial for the US and Europe."With an increasing market share, a healthy balance sheet, and an exciting clinical pipeline nearing key value inflection points, we look to the future with confidence."
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UK shareholder meetings calendar - next 7 days
| Monday 4 March | |
| Ascent Resources PLC | GM re bonus issue of preference shares |
| JPMorgan Emerging Europe, Middle East & Africa Securities PLC | AGM |
| Lexington Gold Ltd | AGM |
| Tuesday 5 March | |
| Ajax Resources PLC | GM re extension of investment mandate |
| Beowulf Mining PLC | GM re capital raise |
| CC Japan Income & Growth Trust PLC | AGM |
| Driver Group PLC | AGM |
| Edinburgh Worldwide Investment Trust PLC | AGM |
| Jersey Electricity PLC | AGM |
| Wednesday 6 March | |
| Ecofin Global Utilities & Infrastructure Trust PLC | AGM |
| Mila Resources PLC | AGM |
| Paragon Banking Group PLC | AGM |
| Thursday 7 March | |
| Asia Strategic Holdings Ltd | AGM |
| CT UK Capital & Income Investment Trust PLC | AGM |
| Henderson Opportunities Trust PLC | AGM |
| XPS Pensions Group PLC | GM re directors' remuneration policy 2024 |
| Friday 8 March | |
| Allergy Therapeutics PLC | AGM |
| All Things Considered Group PLC | AGM |
| Chenavari Toro Income Fund Ltd | AGM |
| Neo Energy Metals PLC | AGM |
| Schroder UK Mid Cap Fund PLC | AGM |
| Silverwood Brands PLC | GM re proposed share capital reduction |
| Comments and questions to newsroom@alliancenews.com | |
| A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
| Copyright 2024 Alliance News Ltd. All Rights Reserved. | |
14 Feb 2024 10:22
Allergy Therapeutics forecasts revenue drop but trials going well
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Allergy Therapeutics resumes trading on AIM; annual revenue plunges
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IN BRIEF: Allergy Therapeutics amends facility, plans warrant issue
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Allergy Therapeutics shares jump as hails grass allergy jab data
(Alliance News) - Allergy Therapeutics PLC on Wednesday said that phase-3 trials of its grass allergy injection yielded positive results, moving the product closer to market entry.
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