Companies: AGY IOM QXT SOM ZAM GTLY JOG
Hemogenyx Pharmaceuticals (HEMO.L): HEMO-CAR-T Update Allergy Therapeutics (AGY.L): Interim results
Companies: Allergy Therapeutics plc (AGY:LON)HemoGenyx Pharmaceuticals Plc (HEMO:LON)
Allergy Therapeutics delivered record interim revenue of £54.0m (+7%, +5% CER) and operating profit pre-R&D of £20.5m during financial H121, emphasising the resilience of its European commercial business despite COVID-19 impacts and the spectre of Brexit. Operationally, the company is also progressing steadily with its pipeline. The G309 exploratory Grass MATA MPL Phase III study is fully enrolled, with most subjects treated ahead of the pollen season; data, anticipated in the autumn, are expect
Companies: Allergy Therapeutics plc
Companies: AGY SOLI ARB
Allergy Therapeutics reported six-month results to 31 December highlighting the underlying momentum within the business and the operational leverage afforded by its high-margin products. Revenues increased 5% (CER) to £54.0m with pre-R&D EBIT up 19% to £20.5m, reflecting the gross margin leverage and a 1% increase in underlying overhead. Adjusted pre-tax profits (ex-£3.2m litigation payment) rose 21% to £15.7m. We leave forecasts unchanged, which assumes a substantial uplift in H2 costs (+£6.2m)
Allergy Therapeutics’ European commercial business remains resilient despite COVID-19 impacts. The H121 trading statement indicates sales growth of 7% (+5% CER), while steady pipeline progress is also being made. Recruitment and treatment in the G309 Grass MATA MPL Phase III study is on track, with post period key events including initiation of the P001 ex vivo peanut allergy biomarker study and publication of positive challenge chamber results for ImmunoBON in a peer reviewed journal. This bode
The six-month trading update to 31 December demonstrates solid underlying growth, with revenues rising 7% to £54.0m, or c.5% at constant exchange rates (CER), despite ongoing COVID-19 restrictions. Period-end cash was £48.3m, which implied a c.30% increase (+£11.3m) in underlying cashflows in the period. With relevant and potentially significant commercial and regulatory newsflow through 2021, we expect the shares to perform well. We leave our forecasts unchanged for FY 2021 at this point and re
Allergy Therapeutics has initiated an ex vivo biomarker study with Imperial College London for its novel VLP-based peanut allergy vaccine candidate. The information generated from this study will be used to support clinical development of the peanut vaccine programme and will establish the starting dose of the first-in-human Phase I study. The IND application will be filed with the FDA in 2021, with the Phase I trial also planned to start this year.
Companies: AGY SCE DEST ARB
Allergy Therapeutics (AGY.L): Initiation of field trial | Sensyne Health (SENS.L): Research agreement with Milton Keynes University Hospital
Companies: Allergy Therapeutics plc (AGY:LON)Sensyne Health Plc (SENS:LON)
Companies: BAYN AGY SENS
Allergy Therapeutics has announced the screening of the first patient in the G309 exploratory field study of Grass MATA MPL, a short course, aluminium-free, allergen-specific, subcutaneous immunotherapy (SCIT), in seasonal allergic rhinitis and/or rhinoconjunctivitis induced by grass pollen. G309 is a double-blind, placebo controlled, randomised study designed to evaluate the efficacy and safety of an optimized Phase III dose of 27,600 SU Grass MATA MPL. The trial will run for one year, capturin
Allergy Therapeutics delivered a solid 6% revenue growth for FY20 to £78.2m, from £73.7m, despite COVID-19 impacts taking a 2% toll. The well-established European commercial platform produced operating profit before R&D of £14.2m, from £11.3m, with R&D spend of £9.0m, from £13.2m. Pollinex Quattro Grass is set to start a pilot Phase III study before initiating full registration trials. The promising VLP-based peanut vaccine reported highly encouraging preclinical data which, if maintained, could
Research Tree provides access to ongoing research coverage, media content and regulatory news on Allergy Therapeutics plc. We currently have 264 research reports from 11 professional analysts.
Futura received full EU approval for MED3000 this morning following indicative approval last month. This removes the last hurdle to signing meaningful commercial agreements in our view. We have reassessed our sales forecasts to account for its over-the-counter rather than prescription status which drives longer-term upgrades. This more valuable commercial proposition helps to drive an upgrade of our TP to £0.80 (c.80% upside) from £0.68. We expect the start of the US study, regulatory approvals
Companies: Futura Medical plc
Headline results from the cohort of non-hospitalised patients were presented from the Phase II trial (SG016) of SNG001 in SARS-CoV-2 infected patients as well as data from the combined analysis of the Hospital and Home Cohort. SNG001 treatment led to a threefold likelihood of recovering to ‘no limitation of activities’ in the markedly/severely breathless COVID-19 patients compared with those on placebo in the home and hospital setting; strengthening the efficacy signal and reinforcing the previo
Companies: Synairgen plc
Astra kicked-off 2021 on a promising note, from both a sales and profitability perspective. Besides a healthy (though somewhat slower) performance for the lynchpin oncology portfolio, the strong growth in Farxiga (diabetes drug) was comforting. While the near term for the UK pharma giant could continue being hampered by the COVID-19 vaccine and Alexion deal terms-related uncertainties, a robust outlook for the core pharma business is encouraging and renders apt support to the stock recommendatio
Companies: AstraZeneca PLC
The UK market showed a continued recovery in the first quarter albeit the indices are still well short of their all-time peaks, unlike many of their international peers. The FTSE 100 has risen by 1,186 points (21.4%) since the end of October and the FTSE 250 by 4,304 points (25.0%). The comparable performance since the start of the year is less spectacular- the FTSE 100 has risen by 253 points (3.9%) and the FTSE 250 has risen by 1,070 points (5.0%). The factors behind the sustained rally are fa
Companies: AMYT ARBB BPC BAG BVC BEG BONH BLVN BRSD CML CWK CRPR EYE ECHO FDM FAR FA/ GPH GSF HUW INSE JDG KAPE KP2 MACF MPAC MNZS NESF NBI OTMP OBD PREM QFI RUA SCS SEN SOS SUR TON TOU TXP TGL TCN UEM VLS WYN
2021 started on a weak note impacted by sustained pandemic headwinds, unfavourable comps due to forward buying in Q1 20 and some underlying business weakness. While the Vaccines business is likely to remain under pressure as governments prioritize COVID vaccinations over non-COVID ones, the group’s pharma business should find support from a reversal in forward buying in Q2 21. Thereafter, recovery largely hinges on an improving pandemic situation. Elliot’s entry into GSK might pressurise the CEO
Companies: GlaxoSmithKline plc
Shield Therapeutics’ (STX) FY20 results reported total revenue of £10.4m reflecting an $11.4m (£9.7m) upfront payment received from ASK Pharm (Feraccru out-licensing deal that covers China) and £0.7m from royalties on Feraccru sales from European partner Norgine. In March 2021, STX raised net funds of £27.8m, which will be utilised to support the US launch and commercialisation of Accrufer (iron deficiency). The focus for STX now is to establish and expand its US-based operations ahead of a Q221
Companies: Shield Therapeutics Plc
Oncimmune has reacquired IP and distribution rights for its lung cancer diagnostic (EarlyCDT®) that has been recalibrated for enhanced accuracy in Asian populations. Trials are due to complete in H1 2021, with regulatory filing to follow shortly afterwards. We would expect the company to be in advanced discussions with a new licensee/ distributor or acquirer of the geographically-specific test, and that a new licensing agreement or divestment will be net value accretive. We maintain our positive
Companies: Oncimmune Holdings Plc
Further good trading news from CVS this morning. Momentum has strengthened since the March finals, supported by sector tailwinds and easing of lockdown restrictions. Management is increasingly confident this is likely continue into the final two months of the year and now expects both revenue and EBITDA to be ahead of expectations. We lift our current year EBITDA by £5.0m and this flows thorough to a 9% EPS upgrade. We raise FY22 and FY23 EPS by 8% and 7% respectively and see scope for further u
Companies: CVS Group plc
With the recent announcement of the positive Phase 2b clinical study of XF-73 in the prevention of post-surgical staphylococcal infections, Destiny has become a rare UK biotech company owning two Phase 3-ready assets. Yet NTCD-M3 may have been forgotten by investors with the excitement surrounding the positive clinical trial announcement. Indeed, the recent IPO of a NASDAQ-listed company with a similar asset to M3 highlights not just Destiny’s superior asset quality, but also the valuation discr
Companies: Destiny Pharma Plc
Hikma has provided a reassuring Q1 21 business update – Injectables benefited from new launches while the momentum in Generics was driven by COVID-19-related products. While demand for such products could normalise, Generics should benefit from the ‘much-awaited’ launch of the Advair copycat in the coming quarters. Within Injectables, a pick-up in elective procedures in the US, as people get vaccinated, should be a key growth driver. Combined with the new licensing deals announced recently, we s
Companies: Hikma Pharmaceuticals Plc
Warpaint London's strategy is to provide customers with access to an extensive range of high-quality and affordable cosmetics. Its focus has been to develop its flagship brand, W7, while capitalising on the growth potential of e-commerce and international expansion. Although the pandemic caused the temporary closure of a number of customer retail outlets, the business remains in a strong position thanks to management’s agility. Cash has been conserved and the business is now debt free. Given its
Companies: Warpaint London PLC
MAST Energy Developments (MED) is to IPO on the Standard List on 14th April 2021 under the ticker MAST. The company has raised £5m giving a market capitalisation on listing of c. £23m. MED is currently a 100% subsidiary company of AIM quoted, Kibo Energy*. MED was established to acquire and develop a portfolio of flexible power plants in the UK and become a multi-asset operator in the rapidly growing Reserve Power market. PensionBee has confirmed its intention to float on the High Growth Se
Companies: SYM CGNR EKF KBT GGP VLS TMO ECK B90 MDZ
Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
Companies: KIBO ROCK VRCI K3C TOU ADT PCA ATYM IOM MJH
Companies: GAL AXS IDH GWMO AGL YEW INFA HE1 PPC CASP
Alphawave IP Group is considering an IPO on the standard listing segment of the London Stock Exchange. Alphawave IP is a leading semiconductor IP company focusing on the hardest-to-solve connectivity challenges created by the exponential growth of data. Funds and accounts managed by BlackRock, and Janus Henderson, have each entered into cornerstone agreements with the Company to subscribe for, subject to certain conditions, in aggregate, c. USD 510m of Offer Shares at an offer price representing
Companies: ARE ERGO GDP EVG MIND SEE STAF ORCH IXI INHC
