Allergy Therapeutics PLC, trading as OTC:AGYTF, is a biotechnology company specializing in allergy immunotherapy products. The company focuses on developing treatments to reduce sensitivity to allergens such as grass pollen and peanuts. Recently, AGYTF reported its earnings, revealing an earnings per share (EPS) of -$0.007, which matched the estimated EPS. The company also reported revenue of approximately $28.85 million, aligning perfectly with the estimated revenue.
Cavendish maintains a positive outlook on Allergy Therapeutics, reiterating a target price of 13p for the stock. This comes after the company released its full-year results, which were largely in line with expectations. For the year ending June 2025, Allergy Therapeutics reported revenue of £55 million, which remained stable compared to the previous year but showed a 2% increase when adjusted for constant exchange rates.
The results highlight a rapid shift in Germany from non-registered to fully registered allergy immunotherapy products. This change has altered the company's product mix more swiftly than anticipated. Despite this, demand for Allergy Therapeutics' registered treatments remains strong, indicating a solid market position.
Allergy Therapeutics has also strengthened its balance sheet significantly since the year-end. Shareholder lenders exercised warrants, using the proceeds to fully repay a £55 million shareholder loan facility. The company has secured a new £50 million uncommitted loan facility, which Cavendish believes provides sufficient financial flexibility as the company looks ahead to a key decision in 2026.
