Allergy Therapeutics boosted by strong German performance

Biotechnology company Allergy Therapeutics has seen revenues increase throughout the first half of its trading year thanks to an improved market share for its allergy vaccines on the continent.

AIM-quoted Allergy told investors on Tuesday that it had continued to "perform well" with revenues up strongly on the prior year in most markets and sales in line with market expectations for the year.

The group highlighted the fact that it had continued to gain market share in Europe, particularly in Germany, ahead of its pivotal Phase III trial on its Pollinex Quattro Grass vaccine for grass pollen-induced allergic rhinitis.

As the company looks to access the US market with its grass vaccine, an end-of-Phase II meeting with the US Food & Drug Administration has been scheduled for January 2019, with Allergy noting good progress had been made regarding the Phase III trial protocol.

Chief executive Manuel Llobet, said: "Our revenue growth reflects the quality of our products, the strength of our supply chain and our sales and marketing team."

"We are pleased that we have continued to make headway this year both in market share and in the progress of our pipeline."

As of 1000 GMT, Allergy shares had slipped 1.52% to 15.51p.