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Allergy Therapeutics set to begin phase II trial of PQ Grass hay fever treatment “imminently”

The allergy vaccine specialist has received regulatory approval to start the phase II trial

hay fever sufferer
AGY reckons PQ Grass, if it gets through the clinic, could generate sales of up to US$300mln a year

Allergy Therapeutics plc (LON:AGY) moved highert today on news it is set to kick off the phase II clinical trial of its hay fever treatment “imminently” after the pharma group got the necessary approvals from authorities.

In late afternoon trading, the firm's shares were up 2.8%, or 0.88p at 32.38p.

The AIM-quoted group believes PQ Grass has the potential to cure grass pollen-induced hay fever, or allergic rhinitis as it’s known in medical circles.

The trial will take place in Germany, Poland and Austria and will involve around 440 patients.

Results from the study are expected in the second half of next year.

Could be worth US$300mln a year to AGY

Should it pass through the clinical stage successfully, Allergy expects the US market to be the main market for the product.

That market alone is estimated to be worth around US$2bn a year and the company is looking at generating peak annual sales of US$300mln from PQ Grass.

If it does get approval, it will be the first subcutaneous (a short needle which injects the drug under the skin) immunotherapy registered in the States.

“This revised Phase II trial will prepare the ground for entry in to the high value US market in which PQ Grass has the potential to become a convenient, best in class, ultra-short course subcutaneous immunotherapy,” said chief executive Manuel Llobet.

“We look forward to reporting headline data next year as we advance this product.”

 -- Adds share price --

Quick facts: Allergy Therapeutics PLC

Price: 17 GBX

Market: AIM
Market Cap: £108.34 m

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Allergy Therapeutics on track for phase III grass pollen trial in 2019

Manuel Llobet, chief executive of Allergy Therapeutics plc (LON:AGY), spoke to Proactive Investors after reporting  “extremely positive results” from the phase II trial of their grass pollen-induced hay fever immunotherapy. Llobet says PQ Grass met its primary endpoint, with those...

on 21/5/18

2 min read