Allergy Therapeutics
Worthing, United Kingdom

Allergy Therapeutics specialises in the diagnosis and treatment of allergy. The existing European business generates c £80m annual sales. Near-term R&D efforts are focussed on the Pollinex Quattro platform, whilst in the medium-term the VLP platform is highly promising.

www.allergytherapeutics.com

Investment Perspective

Allergy Therapeutics has quantified the potential near-term revenue impact from the voluntary UK manufacturing pause. Whilst this is only expected to last around six weeks, FY23 revenues are expected to be 13-18% below current consensus expectations. This is unfortunately due to the interruption occurring during the peak production period, which is undoubtedly disappointing given management guidance of a return to near double-digit growth in FY23. This setback puts increasing pressure on the pipeline to deliver next year, with important readouts expected for both VLP Peanut and Grass MATA MPL; both are expected to initiate key clinical trials this year.

Market information

SymbolPrimary exchanges
AGYAIM London

Research

Annual report and accounts delayed, shares suspended
Lighthouse | 29 Dec 2022
Start of pivotal Grass MATA MPL Phase III trial
Lighthouse | 08 Dec 2022
Manufacturing pause takes it toll on revenues
Update | 28 Oct 2022

Recent News

H123 trading update
20 Jan 2023
FY22 annual report and accounts delayed
29 Dec 2022
Key updates on Grass MATA MPL and VLP Peanut
08 Dec 2022
Appointment of Interim CFO
21 Nov 2022