Update: Fresh finance, fresh product lines
With £11.5m recently raised to support major pipeline expansion (including the newly acquired VLP technology to develop a peanut allergy vaccine) and further small accretive deals, Allergy (AGY) is well placed for the rest of 2016. The US opportunity for the Pollinex Quattro ultra-short course range remains potentially transformational, but AGY is also targeting a greater share of the expanding EU market. Our increased DCF valuation of £274m is fair value, ahead of multiple potential catalysts over the next year.Allergy Therapeutics is a pharmaceutical group focused on allergy vaccination. Co. mainly sell its products in European countries and its pipeline of products in clinical development includes vaccines for grass, tree and house dust mite, as well as a peanut allergy vaccine in preclinical development. Co. sells a range of aluminium-free allergy vaccines and diagnostics. Co. sells both injectable and sublingual (oral) formats. The commonly prescribed are those for the treatment of pollen related allergies, particularly for allergies to grasses, weeds and trees. Co.'s vaccines trade under various brand names depending on the market, e.g. Pollinex Quattro, Polligoid and TA Graser Top.
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