Trading Update19 Jan 2026 12:38
Trading update for the six months ended 31 December 2025
Strong H1 with recovery of the underlying product portfolio in Germany
Grassmuno®: First new launch in the German subcutaneous immunotherapy market in the last 20 years
- Momentum building with H1 revenues expected to be £36.3 million (H1 2025: £34.0 million) representing 7% growth on a reported basis in spite of a significant phase out of German TAV products
- Commercialisation of Grassmuno® has commenced in the second half of the financial year following the marketing authorisation approval from the Germany regulatory authority in December 2025
- Cash position of £10.1 million at 31 December 2025 (30 June 2025: £12.8 million) following repayment of all outstanding shareholder loans
- The board remains confident in delivering revenue growth in year to 30 June 2026
19 January 2026: Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy immunotherapies, today announces its trading update for the six months ended 31 December 2025.
The Group expects revenue for the six months ended 31 December 2025 to be £36.3 million (2024: £34.0 million), representing growth of 7 percent on a reported basis, or 3 percent on a constant currency basis*. This performance is positive given the ongoing transition away from unregistered products under Germany's TAV programme and reflects strong growth in the Group's existing German registered product portfolio.
During the period, the Group received marketing authorisation in Germany for Grassmuno®, the first subcutaneous grass pollen immunotherapy approved under the TAV programme. Commercialisation commenced in January 2026 and sales momentum is expected to accelerate further in the second half of the financial year. Overall Group sales for the full year ending 30 June 2026 are expected to exceed those achieved in the year ended 30 June 2025.
The Group's cash balance as at 31 December 2025 was £10.1 million (30 June 2025: £12.8 million). As previously announced, during the period the Company received exercise notices from the Shareholder Lenders in respect of their warrants, generating aggregate proceeds of £55 million. These proceeds were applied to repay all outstanding financial indebtedness owed to the Shareholder Lenders, significantly reducing the Group's level of debt and strengthening the balance sheet.
In addition, the Shareholder Lenders agreed to provide a new £50 million unsecured loan facility although no amounts had been drawn as at 31 December 2025.
Together with the previously announced £20 million uncommitted Hayfin facility, the Group has access to total uncommitted funding of £70 million, while it continues to explore a potential dual primary listing on the Hong Kong Stock Exchange.
The Company intends to announce its Interim Results in March 2026.
https://allergytherapeutics2024eutfm.q4web.com/news/news-detai