- Allergy Therapeutics said Monday a study to explore the safety and response of its grass allergy product drug met its primary objectives.

Allergy's Grass Modified Allergen Tyrosine Absorbed (MATA) MPL Phase II dose ranging study met its primary endpoint of establishing a dose-response relationship and a Phase III dose.

The currently marketed product showed a significant improvement compared to placebo, the company said.

'We are thrilled with these extremely positive results demonstrating dose dependent efficacy of the product including the current marketed dose,' said Manuel Llobet, CEO at Allergy Therapeutics.

'With an optimal dose identified, we look forward to sharing this new, exciting data with the health authorities and plan to commence a Phase III study in 2019'.

At 10:05am: [LON:AGY] Allergy Therapeutics PLC share price was +2.5p at 27p

Story provided by