Allergy Therapeutics logs record low on lower HY profit

Allergy Therapeutics

19/06/2023 12:41

** Shares of bio-technology company Allergy Therapeutics
 AGY.L  plunge 73.6% to record low of 1.65p
    ** Co's half-year gross profit falls 28% due to high costs
and short-term pause in production in Oct
    ** Logs HY gross profit of 25.8 mln pounds ($33 mln) vs 35.9
mln pounds a year ago
    ** Says trading suspension lifted; trading was suspended in
Jan pending publication of audited accounts 
    ** Adds additional funding required from September for
trading, working capital and R&D programmes
    ** If losses hold, stock set to post record intraday pct
decline
    ** Stock was down 81% in 2022
    
    
    
($1 = 0.7811 pounds)

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))