Allergy's six-month gross profit jumps 22%

UK-based Allergy Therapeutics' gross profit in the six months to December 31, 2008, increased 22% year-on-year to GBP17.3 million ($23.5  million), as its operating loss fell to GBP800,000 from GBP4.4 million in  the comparable period the year before.

Revenues jumped 24% to GBP24.2 million, R&D costs fell to GBP3.2 million  from GBP10.2 million as the firm is still lacking a partner. In addition,  the company says discussions with lenders to renegotiate debt facilities  are "progressing well" and it is confident these will be "resolved  swiftly."

During the reporting period, the UK-based company released positive  results for a trial of its Pollinex Quattro, a once-a-year course of  injections to treat allergic rhinitis. The treatment is administered in  four weekly injections, after which no further doses are required for 12  months. The trial recorded a reduction in symptoms of 26.9%. Each course  of is set to cost $876.74 (Marketletter June 2, 2008).