REG - Allergy Therapeutics - Update on funding and preliminary results

Allergy TherapeuticsAnnouncement

01/10/2024 07:00

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RNS Number : 3446G  Allergy Therapeutics PLC  01 October 2024

 

Allergy Therapeutics plc

("Allergy Therapeutics", the "Group" or "Company")

 

 

Update on funding and preliminary results

 

01 October 2024 Allergy Therapeutics plc (AIM: AGY), the integrated commercial
biotechnology company specialising in allergy vaccines, today announces an
update on the Group's working capital position.

 

Following tight cost control initiatives and changes to the phasing of R&D
expenditure, the Group has successfully extended its cash runway into
late-October.

 

There remains a further £12.5m of uncommitted funding available under the
Amended Loan Facility and the Company is at an advanced stage on further debt
funding to support its ongoing operations and development pipeline.

 

Preparation of Allergy Therapeutics' preliminary financial results for the
year ended 30 June 2024 is well underway and the Group now expects to publish
its report by the end of October.

 

 

ENDS

 

Allergy Therapeutics

Manuel Llobet, Chief Executive Officer

Shaun Furlong, Chief Financial Officer

+44 (0)1903 845 820

 

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Geoff Nash / Seamus Fricker / Rory Sale

Tamar Cranford Smith - Sales

Nigel Birks - Life Science Specialist Sales

+44 (0)20 7220 0500

 

ICR Consilium

Mary-Jane Elliott / David Daley / Davide Salvi

+44 (0)20 3709 5700

allergytherapeutics@consilium-comms.com
(mailto:allergytherapeutics@consilium-comms.com)

 

About Allergy Therapeutics

Allergy Therapeutics is an international commercial biotechnology company,
headquartered in the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that have the
potential to cure disease. The Group sells proprietary and third-party
products from its subsidiaries in nine major European countries and via
distribution agreements in an additional ten countries. Its broad pipeline of
products in clinical development includes vaccines for grass, tree, house dust
mite and peanut. For more information, please see www.allergytherapeutics.com
(http://www.allergytherapeutics.com) .

 

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