Business
Half Year Trading Update 2021 & Notice of Results
Half Year Trading Update 2021 & Notice of Results.
About this update from Allergy Therapeutics Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4686L\n Allergy Therapeutics PLC\n 13 January 2021\n \n \n \n \n \n \n \n Allergy Therapeutics plc\n \n \n (\"Allergy Therapeutics\", \"ATL\" or the \"Group\")\n \n \n \n \n \n \n \n \n Half Year Trading Update 2021 and Notice of Results\n \n \n \n \n \n - Robust sales growth over challenging period\n \n \n - Record cash position\n \n \n - Initial Grass MATA MPL Phase III trial progressing well\n \n \n - Encouraging trial results for ImmunoBON which will be launched in Germany in January\n \n \n \n \n \n \n \n \n \n 13 January 2021 \n \n Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, today provides a trading update for the six months ended 31 December 2020 ahead of its Half Year Results to be announced on 3 March 2021.\n \n \n \n \n \n Financials\n \n \n \n \n \n The Group is trading in line with Board expectations, with reported revenues for the six months ended 31 December 2020 having grown to £54.0m (2019: £50.5m), representing 7% growth on a reported basis ( 5% on constant currency basis), despite the challenges of COVID-19. Geographically, there was growth across most major countries with the best performances in Germany, Austria, Netherlands and Switzerland. Sales of Pollinex Quattro and Pollinex continued to progress well, driven by superior technology and a strong sales and marketing team. \n \n \n \n \n \n The Group has continued to generate good cash conversion, with a record cash balance at the end of December 2020 of £48.3m (31 December 2019: £39.7m). \n \n \n \n \n \n On current internal assumptions, the Group will be able to fund the Grass MATA MPL Phase III trials, as well as the peanut allergy vaccine candidate Phase I trial, from existing resources. \n \n \n \n \n \n Regulatory \n \n \n \n \n \n The Group is progressing well with recruitment and treatment of patients in the exploratory field study (G309) of the Grass MATA MPL development programme, which began in October 2020 and is being executed in the USA and the EU. The design of this development programme supports a phased Phase III approach (as communicated in November 2019) and incorporates the lessons learned from previous trials. Results from the explo...