Business
Update on funding and preliminary results
Update on funding and preliminary results.
About this update from Allergy Therapeutics Plc
[{"type":"text","content":"\n\n \n\nAllergy Therapeutics plc\n(\"Allergy Therapeutics\", the \"Group\" or \"Company\")\n \n \nUpdate on funding and preliminary results\n \n01 October 2024 Allergy Therapeutics plc (AIM: AGY), the integrated commercial biotechnology company specialising in allergy vaccines, today announces an update on the Group's working capital position.\n \nFollowing tight cost control initiatives and changes to the phasing of R&D expenditure, the Group has successfully extended its cash runway into late-October.\n \nThere remains a further £12.5m of uncommitted funding available under the Amended Loan Facility and the Company is at an advanced stage on further debt funding to support its ongoing operations and development pipeline.\n \nPreparation of Allergy Therapeutics' preliminary financial results for the year ended 30 June 2024 is well underway and the Group now expects to publish its report by the end of October.\n \n \nENDS\n \nAllergy Therapeutics\nManuel Llobet, Chief Executive Officer\nShaun Furlong, Chief Financial Officer\n+44 (0)1903 845 820\n \nCavendish Capital Markets Limited (Nominated Adviser and Broker)\nGeoff Nash / Seamus Fricker / Rory Sale\nTamar Cranford Smith - Sales\nNigel Birks - Life Science Specialist Sales\n+44 (0)20 7220 0500\n \nICR Consilium\nMary-Jane Elliott / David Daley / Davide Salvi\n+44 (0)20 3709 5700\[email protected]\n \nAbout Allergy Therapeutics\nAllergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, 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 includes vaccines for grass, tree, house dust mite and peanut. For more information, please see www.allergytherapeutics.com.\n \n\n","length":5333,"tagName":"div"}]