Last checked at 27 Nov 2018 07:00
Allergy Therapeutics plc
("Allergy Therapeutics" or the "Group")
AGM Trading Update
Sales continue to grow strongly with market share gains
27 November 2018 Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, today provides an AGM trading and regulatory update ahead of its Half Year Results to be announced in March 2019.
Financials
The Group continues to perform well with revenues up strongly from the prior year in most markets and sales in line with market expectations for the year. The Group continues to gain market share in Europe, particularly in Germany.1
Regulatory update
The Group continues to prepare for the upcoming PQ Grass pivotal Phase III trial that can allow for US registration. An end of Phase II meeting with the FDA has now been confirmed for January 2019 and good progress is being made regarding the Phase III trial protocol. Further to previous updates, top line results from the PQ Birch (B301) Phase III trial for Europe are now expected in Q1 2019. Allergy Therapeutics remains blinded to the data package and looks forward to the disclosure of the data.
The Worthing site recently completed a successful MHRA audit with no critical findings illustrating the quality of the Group's supply chain.
AGM voting results
The company will announce the results of the AGM voting later today.
Manuel Llobet, CEO at Allergy Therapeutics, stated: "Our revenue growth reflects the quality of our products, the strength of our supply chain and our sales and marketing team. We are pleased that we have continued to make headway this year both in market share and in the progress of our pipeline."
1Insight Health Data
This announcement contains inside information for the purposes of Article 7 of Regulatory (EU) No596/2014.
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For further information, please contact:
Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Nick Wykeman, Chief Financial Officer
Panmure Gordon
+44 (0) 20 7886 2500
Freddy Crossley, Emma Earl, Corporate Finance
Erik Anderson, Corporate Broking
Consilium Strategic Communications
+44 20 3709 5700
Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia Manser
allergytherapeutics@consilium-comms.com
Stern Investor Relations, Inc.
+1 212 362 1200
Christina Tartaglia
christina@sternir.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The Group sells proprietary and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development include vaccines for grass, tree and house dust mite, and peanut allergy vaccine in pre-clinical development. Adjuvant systems to boost performance of vaccines outside allergy are also in development.
Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with more than 11,000m2 of state-of-the-art MHRA-approved manufacturing facilities and laboratories. The Group, which has achieved double digit compound annual growth since formation, employs c.500 employees and is listed on the London Stock Exchange (AIM:AGY). For more information, please see www.allergytherapeutics.com.