21st Jul 2025 13:47
(Alliance News) - Allergy Therapeutics PLC on Monday said it expects to report a small decline in earnings during its most recent financial year, as a result of regulatory changes within its key German market.
Shares in Allergy Therapeutics fell 9.6% to 7.50 pence in London on Monday afternoon. The stock remains up 42% over the past year, however.
The Sussex, England-based biotechnology company said it expects to post second-half revenue of GBP21.0 million for the six months that ended June 30, down 2.8% from GBP21.6 million a year earlier.
This was the result of an "earlier than expected impact of the approaching change in the German regulatory landscape", it explained, which is anticipated to result in unregistered allergy treatments being withdrawn from the market amid a shift to fully licenced products.
Full-year revenue is expected to decline 0.4% to GBP55.0 million from GBP55.2 million, as a result of foreign exchange rates. The firm said revenue rose 2% at constant currency due to strong growth in its Spanish market, which was up 11%. This offset flat revenue in Germany.
Cash balance at June 30 was GBP12.8 million, against GBP12.9 million the year before. Allergy Therapeutics drew down a net value of GBP15.0 million during the year from its shareholder loan facility, which involves SkyGem Acquisition Ltd and Southern Fox Investments Ltd.
The company also drew down GBP20.0 million from its secured senior loan facility with Hayfin Healthcare Opportunities LuxCo Sarl, which is a fund advised by Hayfin Capital Management LLP.
"The group's performance in 2025, through the execution of a clear commercial strategy in key markets and maintaining a laser focus on our priority R&D programmes, positions Allergy Therapeutics well for future growth," said Chief Executive Officer Manuel Llobet.
"With our near-term opportunities to significantly strengthen our commercial portfolio and to deliver clinical data within our pipeline of next-generation allergy immunotherapies, the board remains confident in the group's trading prospects, underpinned by a commitment to improve the lives of people living with allergies."
By Emily Parsons, Alliance News reporter
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