- Circassia Pharmaceuticals posts a loss of £21.7m for the six months to the end of June - up from £16.2m last time.

But the speciality biopharmaceutical company focused on allergy and asthma says the cat allergy phase III registration study (CATALYST) is on track to report results H1 2016 and recruitment for grass allergy phase III will start H1 2016.

Chief executive Steve Harris said: "Following Circassia's successful IPO in March 2014, the first half of 2015 has proved equally transformational for the Company. We have continued to deliver our pipeline of next generation allergy immunotherapies, and our late-stage programs and phase III studies are on track.

"At the same time, we have significantly accelerated our strategy to independently commercialize our products and build a broad and balanced portfolio, through the acquisitions of Aerocrine and Prosonix. We now have an established commercial infrastructure selling novel products directly to allergy/asthma specialists in the US and Germany, who are the core customers for our allergy treatments.

"In addition, we have complemented our late-stage allergy pipeline with a number of near-term asthma products and high value novel candidates. In the coming year, we intend to expand our commercial presence in preparation for the launch of our cat allergy treatment, which we also expect to boost sales of our current asthma products. As a result, we are ideally positioned to achieve our ambition of becoming a self-sustaining specialty biopharmaceutical business."

At 9:27am: [LON:CIR] Circassia Pharmaceuticals Plc Ord 0.08p share price was +0.75p at 297.75p

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