Allergy
Therapeutics
plc
("Allergy Therapeutics", the "Group" or "Company")
Update on funding and
preliminary results
01
October 2024 Allergy Therapeutics
plc (AIM: AGY), the integrated commercial biotechnology company
specialising in allergy vaccines, today announces an update on the
Group's working capital position.
Following tight cost control
initiatives and changes to the phasing of R&D expenditure, the
Group has successfully extended its cash runway into
late-October.
There remains a further £12.5m of
uncommitted funding available under the Amended Loan Facility and
the Company is at an advanced stage on further debt funding to
support its ongoing operations and development pipeline.
Preparation of Allergy Therapeutics'
preliminary financial results for the year ended 30 June 2024 is
well underway and the Group now expects to publish its report by
the end of October.
ENDS
Allergy Therapeutics
Manuel Llobet, Chief Executive
Officer
Shaun Furlong, Chief Financial
Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and
Broker)
Geoff Nash / Seamus Fricker / Rory
Sale
Tamar Cranford Smith -
Sales
Nigel Birks - Life Science Specialist
Sales
+44 (0)20 7220 0500
ICR
Consilium
Mary-Jane Elliott / David Daley /
Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@consilium-comms.com
About Allergy Therapeutics
Allergy Therapeutics is an
international commercial biotechnology company, headquartered in
the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that
have the potential to cure disease. The Group sells proprietary and
third-party products from its subsidiaries in nine major European
countries and via distribution agreements in an additional ten
countries. Its broad pipeline of products in clinical development
includes vaccines for grass, tree, house dust mite and peanut. For
more information, please see www.allergytherapeutics.com.