# Allergy Therapeutics plc “2018 is set to be a pivotal year”

- Link: https://www.directorstalkinterviews.com/allergy-therapeutics-plc-2018-set-pivotal-year/412746904
- Published: 2018-03-07T07:10:31+00:00
- Author: Giles Arbor

**Allergy Therapeutics plc** ([LON:AGY](https://www.directorstalkinterviews.com/company/allergy-therapeutics/agy.l)),
the fully integrated specialty pharmaceutical group specialising in allergy vaccines,
announced today its unaudited interim results for the six months ended 31 December
2017.

Highlights (including post period end highlights)

**Financial highlights**

· Reported revenue increased by 4.4% to £42.2m (H1 2017: £40.4m) and to £40.9m at
constant currency*, representing 1.3%** growth despite an abnormally weak pollen
season

· R&D expenditure increased to £5.9m (H1 2017: £3.8m) due to investment in the Grass
MATA MPL Phase II and PQ Birch Phase III trials

· 12% growth in pre-R&D operating profit to £12.3m (H1 2017: £11.1m) as a result
of broad investment in the business and the strength of the euro against sterling

· Strong cash balance of £25.8m (H1 2017: £27.8m)

**Operational highlights**

· Increased market share in the German market to 14% (2017: 13%)

· Breadth of portfolio demonstrated by strong performance from Venomil and Acarovac
Plus

· Completion of recruitment in the pivotal Pollinex Quattro Birch Phase III study
for Europe

· Completion of recruitment ahead of schedule for the Grass MATA MPL Phase II dosing
trial for the US

· Contract for scaling up the Polyvac® Peanut product signed with AGC Biologics,
aiming for first in human trials in 2019

· Acarovac Phase I trial continues with readout expected in H1 2019

· Contract for joint development of Oralvac products in the TAV process signed with
Ergomed

· Bencard Adjuvant Systems continues to build its IP assets with microcrystalline
tyrosine manufacturing process patented in key worldwide markets

> **Commenting on the interim results, Manuel Llobet, Allergy Therapeutics plc Chief
> Executive Officer, said:** “2018 is set to be a pivotal year for Allergy Therapeutics
> with the key Grass MATA MPL Phase II trial on course for readout in the second
> half of the calendar year. This could provide us the platform to expand into the
> lucrative US market. In the first half of this year, we continued to outperform
> the wider market and delivered an increase in revenue at constant currency despite
> an abnormally weak pollen season, demonstrating the strength of our differentiated
> products. This reflects the quality of the Group’s highly convenient, ultra-short
> course, aluminium-free therapy, enabling us to continue to gain market share.”

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