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Allergy Therapeutics PLC - West Sussex, England-based commercial biotechnology company - Says it continued to work on initiatives to improve cost control and manage working capital alongside trading broadly in line with expectations for the current financial year to date. Says it has extended its cash runway and anticipates to require additional funding by the end of December. Further, says discussions with some major shareholders regarding a subscription and open offer announced in October have progressed. Says that the pivotal phase 3 grass G306 modified allergen tyrosine adsorbed monophosphoryl lipid A trial remains on track to report interim results this month. Via G306, the company aims to release an immunotherapy for grass allergy.
Current stock price: 1.37 pence, down 5.5% on Monday afternoon in London
12-month change: down 79%
By Tom Budszus, Alliance News reporter
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