(Alliance News) - Allergy Therapeutics PLC on Thursday said it expects to report high single-digit revenue growth in the first half of its current financial year as its market share continues to increase.
The AIM-listed biotechnology company said revenue in the six months to the end of 2019 is expected to grow by 8.1% to GBP50.5 million from GBP46.7 million a year earlier. On a constant currency basis, revenue improved by 9%.
Geographically, Allergy Therapeutics said there was growth across all major countries with the best performances in Germany, Spain, the Netherlands and Switzerland.
Product wise, the Pollinex Quattro and Venomil vaccines continued to progress well, along with Pollinex vaccine, the company noted, driven by a "robust" supply chain.
Turning to the Grass MATA MPL phase III trial, Allergy Therapeutics confirmed that it is on track to start the screening for the first stage of the study during summer 2020.
"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," said Chief Executive Manuel Llobet.
Allergy Therapeutics shares were trading 3.1% higher in London on Thursday at 11.70 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Allergy Thera. (AGY)