Allergy Therapeutics on track to 'significantly' exceed FY expectations
Biotechnology company Allergy Therapeutics said on Wednesday that its 2020 trading performance was on track to exceed market expectations.
Allergy Therapeutics
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Allergy expects reported revenues for the year ending 30 June to be at least 4% ahead of the prior year in constant currency terms.
The AIM-listed group added that a programme of operating cost efficiencies, together with the timing of planned research and development expenditure over the three years ending June 2022, was expected to deliver a net profit for the year "significantly above" market expectations.
Allergy will provide a further update to shareholders for the year ending 30 June in mid-July.
As of 1010 BST, Allergy shares had surged 20.07% to 14.26p.