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Preliminary Results for the year ended 30 June 2020

  • Record level of pre R&D operating profit supported by robust sales and operational efficiency
  • Strong cash position with Grass MATA MPL Phase III programme and initial Phase I peanut trial fully funded
  • Exclusive licencing agreement signed for further virus like particle(VLP) candidates




23 September 2020 Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy immunotherapy, today announces its preliminary results for the year ended 30 June 2020.



Financial Highlights

  • 7% revenue growth at constant rate* and 6% at reported rate to £78.2m (2019: £73.7m)
  • 25% increase in pre-R&D operating profit to £14.2m (2019: £11.3m) as a result of sales growth and lower overhead cost growth
  • Strong cash balance of £37.0m at 30 June 2020 (2019: £27.4m)
  • Net profit of £7.1m for the year including one-off, legal settlement of £3.2m (2019: Net profit of £3.5m)


Operating Highlights (including post period)

  • Good growth across all key products in the portfolio with further incremental increase in market share in European business
  • Exploratory field study for Grass MATA MPL will begin in Q4 2020, moving on to the second stage Phase III trial in H2 2022 to improve outcome and mitigate risk
  • Licence agreement signed with Saiba and DeepVax, VLP partner to explore new therapeutic areas, including solid cancer tumours and asthma
  • Signed exclusive rights to multi-allergy oral product ImmunoBON
  • VLP-based Peanut product Phase I trial due to commence in 2021


Manuel Llobet, CEO at Allergy Therapeutics, stated: “The robust, all-round performance of the business this year has shown the key qualities of Allergy Therapeutics, with strong financial results, a fast response to the COVID-19 challenge and continued development and expansion of our commercial portfolio and pipeline. These present new opportunities for us to strengthen our leadership in the allergy immunotherapy field and, longer-term, explore the broader immunology space, with the potential to deliver increased value to shareholders and the patients we serve.”


*Constant currency uses prior year weighted average exchange rates to translate current year foreign currency denominated revenue to give a year on year comparison excluding the effects of foreign exchange movements. See table in finance review for an analysis of revenue.

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  • Company:
    • Allergy Therapeutics plc
  • Name:
    • Allergy Therapeutics plc
Last Updated: 23-Sep-2020