Allergy Therapeutics reports significant progress made towards becoming a global provider of allergy solutions in the year to the end of June.
- 19% increase in revenue at constant currency to £51.5m (2015: £43.2m)
- 12% increase in revenue to £48.5m (2015: £43.2m)
- Increased market share in our main European markets to 12% (2015: 10%)
- Core business (excluding R&D) shows 11% increase in Operating Profit to £4.3m (2015: £3.8m)
- Ramp up on R&D investment with £16.2m (2015: £3.1m) spent, reflecting investment in PQ registration and pipeline
- Achieved primary endpoint for PQ Birch Phase II Study in Europe and selected dose to be used in Phase III, starting in 2017
- Inconclusive results of Phase II dosing study in the US for Pollinex Quattro Grass
- Successfully raised £11.5m (gross) to fund new product development and organic and inorganic growth opportunities
- Acarovac PlusTM one-year study showed statistically significant improvement for patients
- Acquisition of Virus Like Particle technology licence for the development of a potential new injectable vaccine immunotherapy treatment for allergy sufferers with peanut as lead project
- Strong cash balance of £23.4m at year end (2015: £21.2m)
Chief executive Manuel Llobet said: "This year has seen many events in the allergy market. I would like to highlight Allergy Therapeutics' revenue growth, now accounting for 12% of the share in our competitive market, and progressing well towards our long-term strategic plans with developments across all areas of the business.
"Our excellent products and outstanding team have delivered success in product development and marketing and, despite the requirement for our additional range-finding study, we look forward to capitalising on opportunities to continue growing into new markets and delivering patient-friendly, market-leading treatments, to help patients across the allergy spectrum.
"We are a thriving, visionary company, led by a self-driven team, totally committed to transforming allergy treatments. We are passionate about what we do and we are convinced that the best is yet to come."