Allergy Therapeutics narrows interim loss

Allergy vaccination group Allergy Therapeutics narrowed half year losses and said it is well placed to capitalise on the investments of the past. Pre-tax losses narrowed to £11.44m in the six month ended 30 June compared with a loss of £20.24m last time. Revenues increased by 22% to £37.8m, on a constant currency basis net sales increased by 6%, while R&D expenditure reduced to £5.3m from £16.3m previously.'We are confident that the company will thrive in the changing environment of EU regulation and of apparent increasing acceptance of vaccine adjuvants in North America, and that with new commercially-experienced board representation and leadership, Allergy Therapeutics is well placed to capitalise on the investments of the past, win market share within Europe and grow profitably,' said the group.