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AIM-listed speciality pharmaceuticals company Allergy Therapeutics (LON:AGY) has reported a 10.6% increase in revenues for the six months ended 31st December. Operating profits before R&D costs improved by 27% and R&D spending declined relative to the same period of 2017.
CEO Manuel Llobet commented: “The Group has made a strong start to the financial year. Our ultra-short course products continue to drive good sales growth in a relatively flat market and the Group’s pre-R&D operating profit has increased as a result of investment into our commercial business last year and our focused sales and marketing strategy. 2019 will be a very important year for the Group and, in particular, our ultra-short course technology platform, with the start of the pivotal Phase III Grass MATA MPL trial for the US and Europe. With an increasing market share, a healthy balance sheet, and an exciting clinical pipeline nearing key value inflection points, we look to the future with confidence“.
The price of Allergy Therapeutics shares rose by 4.73% to 14.40p (as of 13:40 GMT).