Allergy Therapeutics plc (LSE:AGY) reported first-half revenue of £36.3 million for the six months ended 31 December, representing year-on-year growth of 7%, despite the continued phase-out of unregistered products in the German market.
A key development during the period was the start of commercialisation of Grassmuno, the company’s newly approved subcutaneous grass pollen immunotherapy. Sales began in January following marketing authorisation from German regulators in December, marking the first new product launch in Germany’s subcutaneous immunotherapy market in two decades.
The group ended December with cash of £10.1 million, compared with £12.8 million at the end of June 2025, reflecting the repayment of all outstanding shareholder loans. During the period, Allergy Therapeutics received £55 million from warrant exercises by shareholder lenders, which was used to eliminate its financial debt. The company also confirmed it now has access to £70 million of uncommitted funding facilities as it explores a potential dual primary listing on the Hong Kong Stock Exchange.
Chief executive Manuel Llobet described the German approval of Grassmuno as a “pivotal moment” for the business, particularly ahead of the conclusion of the German allergen ordinance (TAV) process later this year. He noted that this regulatory transition is expected to lead to the withdrawal of competing products that fail to meet updated requirements.
Progress also continues across the pipeline, with the VLP Peanut programme — focused on developing a next-generation peanut allergy immunotherapy — delivering encouraging interim results. Chairman Peter Jensen said securing German registration has validated the company’s clinical trial approach, which can now be applied to additional allergy indications such as birch and ragweed.
Allergy Therapeutics expects to publish its interim results in March and said it remains confident in delivering revenue growth for the full year ending 30 June 2026.
More about Allergy Therapeutics
Allergy Therapeutics plc is a UK-based biotechnology company specialising in allergy immunotherapies. The group develops and commercialises treatments for allergic conditions, with a focus on subcutaneous and next-generation immunotherapies across multiple indications, supported by a growing clinical pipeline and expanding international footprint.
Leave a Reply