Shares digital

Allergy Therapeutics (AGY:AIM) – Interims PTP: -£6.7m (-£7.4m) Divi: n/a (n/a)

Losses narrowed and sales increased by 23% to £21.6 million but shares in the company have remained subdued with no news about when US regulators, the FDA, might lift its hold on trials for adjuvants which includes Allergy’s vaccines. Data from its Phase III ragweed and grass allergy studies are due in the second quarter which could enable the company to file for registration in Europe next year if they are positive, but there is no indication of when activities in the US can start up again. Chief executive Keith Carter says that the company plans to sign a licensing deal for the vaccines once the Phase III data is in and that a deal for Europe could be signed before the FDA trial hold is lifted.

Shares says: The shares are likely to remain subdued until the FDA changes its stance but with shares at these lows its worth holding on.

by: Susanna Twidale