Allergy Therapeutics (AIM:AGY), the AIM-listed biotechnology company specialising in allergy immunotherapies, expects full-year revenue of £59.9 million for the year ended 30 June, up 9% on a reported basis from £55.0 million a year earlier.
Second-half revenue accelerated to £23.6 million, up over 12% from £21.0 million a year earlier, compared with 7% growth in the first half.
Growth was driven by Germany, the Group's largest market, up over 4% on a constant currency basis, and Spain, its second largest, up 12%.
The group's cash balance stood at £24.2 million at 30 June, more than double the £12.8 million held a year earlier, after repaying all outstanding shareholder loans and drawing down a new £40 million secured facility from Hayfin Capital Management.
Shareholder lenders also agreed a further £50 million unsecured facility, though none of it had been drawn by the year-end.
The company pointed to the launch of Grassmuno, the first subcutaneous grass pollen immunotherapy approved under its TAV programme, as the catalyst for the next phase of growth.
"We strengthened our balance sheet during the year, with new secured funding from Hayfin providing us with a robust foundation from which to pursue our strategic growth initiatives, including the advancement of our pipeline of next-generation allergy immunotherapies, such as VLP Peanut", the company said.
With the German TAV programme ending in October and the first full high season for Grassmuno approaching, Allergy Therapeutics expects double-digit revenue growth for the year to 30 June 2027.
The company will publish preliminary audited results in October.
News Intelligence what this means for the company
Allergy Therapeutics reported 9% revenue growth to £59.9 million for the year ended 30 June 2026, with second-half momentum accelerating to 12% growth. The company has doubled its cash position to £24.2 million through a £40 million secured facility from Hayfin Capital Management and guides to double digit growth ahead, anchored on the launch of Grassmuno—its first subcutaneous grass pollen immunotherapy—which enters its first full high season as the German TAV programme winds down in October.
The balance sheet reset—cash now covers 41% of annual revenue versus 23% a year earlier—removes near-term funding pressure and funds pipeline advancement including VLP Peanut. Grassmuno's commercial ramp and the end of the TAV programme transition represent a material inflection point, though the double digit growth guidance depends on execution in a new product launch and market uptake during the high season.
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