Circassia confident of meeting annual targets as sales rise in first nine months of 2015

Circassia Pharmaceuticals said it was confident of meeting its full-year expectations after sales of its asthma treatment rose in the latest quarter and in the first nine months of the year.

In a trading update released on Tuesday, the FTSE 250 group said in the first nine months of 2015 sales of its NIOX asthma management product rose surged 30% year-on-year to £13.6m, while they jumped 35% year-on-year to £4.5m in the latest quarter.

The company indicated it expects sales of its NIOX products to remain strong during the remainder of 2015, adding the current expansion of its commercial capabilities should drive further growth over the next 12 months.

"The coming months will be an important period of transformation as the company prepares for the launch of its first allergy product, while also boosting sales of the NIOX franchise," the group said in a statement.

"The outlook is extremely exciting as the company accelerates towards its goal of becoming a self-sustaining specialty biopharmaceutical business."

Circassia shares were untraded at 283.40p at 0821 GMT on Tuesday.