Circassia to report Phase 3 trial results for cat allergy treatment in coming weeks

Circassia Pharmaceuticals kicked off phase-three trials for its grass allergy treatment, the second imunotherapy programme for which it was seeking regulatory approval, and said it was on-track to report the results of its phase-three clinical trials for its Cat allergy treatment using its SPIRE technology platform.

The latest phase-three test was broken into two parts, with results form Part A due in the second half of 2017 and those from Part B, which would be conducted on a larger population size, due in the backhalf of 2018.

Analysts at Numis viewed that staging of the Grass-SPIRE test as a means to also factor in the results of the Phase three Cat-SPIRE trial into Grass-SPIRE.

"In the event of a failure, Circassia has a fast-growing specialty asthma diagnostics platform broad pipeline of respiratory generics and a solid balance sheet, and we continue to see an attractive risk reward profile with a 610p target price if successful and 177p if unsuccessful with further upside from the diagnostics (primary care) and generics (generic Advair and novel triple) portfolio on a 12-month view," Numis analysts Paul Cuddon, Sally Taylor and Stefan Hamill said in a research note sent to clients.