- Allergy Therapeutics reiterated expectations to top market expectations as it continued to gain market share within its core markets in Europe

Data for the key markets for the 12 months ending 31 March 2019 showed a 0.6 market share point increase, the company said. Overheads were expected to be in line with market expectations.

Allergy touted a healthy pipeline after good meeting with Swissmedic, the Swiss regulatory authority, to discuss the potential protocol for the first in human trial of its VLP-based (Virus-like Particle) Peanut product, due to start in H1 2020. It also continued to make 'good progress' with the commercial scale-up process for this product, the company said. The company also said it would be able to fund the Grass MATA MPL Phase III trial, currently planned to start in autumn 2020, from existing resources.

'If the trial is successful, and subject to completion of the safety database, the Group will pursue regulatory filing in the US, opening up a potential market of approximately $2bn,' it added.

The company reiterated expectations for earnings for the full year 2019 to be ahead of market expectations., with net revenue expected to be £73.7m, up from £68.3m, representing 8% annual growth on a reported basis.

At 8:40am: [LON:AGY] Allergy Therapeutics PLC share price was +0.25p at 13.75p

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