- Allergy Therapeutics plc announced Monday that recruitment has been completed in its grass allergy Phase II study with results due ahead of expectations in early second half of 2018.

The trial is designed to evaluate the dose-response and safety of its ultra-short course, aluminium free PQ Grass immunotherapy to address the cause of symptoms of allergic rhinoconjunctivitis due to grass pollen.

The study protocol involves more than 440 patients in over 50 sites across Germany, Austria and Poland.

The US represents one of the key markets for the product and is estimated by the group to be worth $2bn with potential peak grass vaccine sales of $300 to 400m per annum.

'If approved, the product will be the first registered subcutaneous immunotherapy product in the US for allergy,' the company said.

Manuel Llobet, Chief Executive Officer of Allergy Therapeutics, said: 'The completion of recruitment for all patients in our Phase II trial is an important step in our journey towards access to the US market in which PQ Grass has the potential to become a convenient, best in class, ultra-short course subcutaneous immunotherapy. We are pleased that the study is running ahead of schedule and look forward to seeing the results later this year.'

At 8:38am: [LON:AGY] Allergy Therapeutics PLC share price was 0p at 27.25p

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