FDA green lights VLP Peanut vaccine Phase I trial
Lighthouse | 26 January 2022
Trinity Delta view: Our investment case for Allergy Therapeutics centres on the R&D pipeline, where two novel programmes, Grass MATA MPL and VLP Peanut allergy vaccines, are progressing through clinical trials. Success with either of these would propel the company into new geographies, notably the commercially important US market. However, were VLP Peanut to confirm the highly promising preclinical results seen to date in future pivotal human trials, then the outcome would be transformational for Allergy Therapeutics. Our current valuation is £350.7m (54.7p/share), including cash and opex. We value the existing commercial business at £91.1m (14.2p/share) with the pipeline contributing £222.8m (34.7p/share). Allergy Therapeutics reports H122 results on March 3.
26 January 2022
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.
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