REG - Allergy Therapeutics - Update on funding

Allergy TherapeuticsAnnouncement

11/12/2023 07:15

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RNS Number : 2524W  Allergy Therapeutics PLC  11 December 2023

Allergy Therapeutics plc

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

 

Update on funding

 

11 December 2023 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.

 

The Group continues to work on initiatives to enhance cost control and manage
working capital alongside trading. Whilst sales for the financial year to
30 June 2024 are expected to be slightly lower than the comparable period
ended 30 June 2023, costs and overheads before research and development costs
and exceptional items are now expected to be slightly lower following cost
control initiatives undertaken in the year. As a consequence, the Group has
successfully extended its cash runway towards the end of January 2024.

 

While no firm commitments are in place to provide further funding, discussions
with certain major shareholders are well advanced.

 

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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