Panmure Gordon Analyst Dr Mike Mitchell said this morning “Allergy Therapeutics has announced top-line results from its PQBirch204 Phase II study. Primary endpoint has been met and the results have proved the dose-response relationship. Not only does this pave the way towards the Phase III programme on track (expected to commence early 2017), it also potentially acts as a validating/de-risking reference for the company’s wider Pollinex Quattro platform. On this point, we remind investors we will be looking towards results from the US GrassMATAMPL Phase II study in 2H16. Our SOTP valuation presently only includes pipeline representation through the US study so not only does progress on PQBirch offer potential upside, it also helps to underpin confidence in the technology and clinical strategy. In our view the current 26p share price represents an unduly onerous discount against our 53p target price”
Campaign launched to prevent food allergy-related deaths and illness on Teesside
A new campaign has been launched with the aim of preventing food allergy-related illness and deaths across Teesside. Targeted at restaurants and food outlets, all 12 local authorities in the North East have joined forces to