UK's Allergy Therapeutics falls on funding woes, poor sales outlook

Allergy Therapeutics

10/08/2023 08:41

** Shares of UK's Allergy Therapeutics  AGY.L  down as much
as 16.3% at 2.39p 
    ** The allergy vaccine-focused biotech firm says will
require additional funding from October for day-to-day
functioning of co; in discussions with parties 
    ** Sees sales volumes for next year to be lower with costs
related to research and development to be higher 
    ** Says movements in currency market also affecting
operational finances for co 
    ** For current FY revenue down 16% due to short-term pause
in production, expects to swing to annual adj operating loss of
13.3 mln pounds ($16.96 mln) from profit of 3.4 mln pounds
    

($1 = 0.7843 pounds)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))