- Allergy Therapeutics said top-line results from the phase III clinical trial of its new birch-pollen allergy treatment did not meet its primary objective.

The company's birch-pollen allergy treatment failed to show a 'statistically significant difference between active and placebo arms in the primary endpoint of a combined symptom medication score averaged over the peak birch pollen season,' Allergy said.

But the secondary endpoint analyses of immunoglobulin markers including IgG and IgG4 showed highly statistically significant differences between active and placebo, suggesting a 'strong and sustained immune response to treatment,' it added.

'We are surprised by the result, given the strong immune response suggested by the increased immunoglobulin markers in the treatment arm and the substantial symptom improvement we had observed in earlier trials,' said Manuel Llobet, CEO at Allergy Therapeutics.

'We will now undertake a comprehensive review of the full dataset to determine our path forward with the investigational product. As a science-driven company we are conscious at Allergy Therapeutics of the challenges regarding subjective measures in allergy field studies. We are committed to overcoming these challenges and bringing this new product to market.'

At 8:48am: [LON:AGY] Allergy Therapeutics PLC share price was -5.15p at 9.25p

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