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RNS Number : 4149S Allergy Therapeutics PLC 06 November 2023
Allergy Therapeutics plc
("Allergy Therapeutics", the "Group" or "Company")
Update on funding
6 November 2023 Allergy Therapeutics plc (AIM: AGY), the integrated commercial
biotechnology company specialising in allergy vaccines, today announces a
positive update on the Group's working capital position. Following the release
of its unaudited preliminary results on 27 September 2023 for the year ended
30 June 2023, the Group has continued to work on initiatives to enhance cost
control and manage working capital alongside trading broadly in line with
expectations for the current financial year to date. As a consequence, the
Group has extended its cash runway and now expects to require additional
funding by the end of December 2023.
Since the completion of the subscription and open offer, announced on 13
October 2023, discussions with certain major shareholders have progressed.
Whilst there are currently no firm commitments in place to provide further
funding, discussions are continuing positively.
The Pivotal Phase III Grass G306 MATA MPL trial remains on track to report
interim trial results in November 2023.
ENDS
For further information, please contact:
Allergy Therapeutics
Manuel Llobet, Chief Executive Officer
Shaun Furlong, Chief Financial Officer
+44 (0)1903 845 820
Panmure Gordon (Nominated Adviser and Broker)
Emma Earl, Freddy Crossley, Mark Rogers, Corporate Finance
Rupert Dearden, Corporate Broking
+44 (0)20 7886 2500
ICR Consilium
Mary-Jane Elliott / David Daley / Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@consilium-comms.com
(mailto:allergytherapeutics@consilium-comms.com)
Notes for editors:
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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