A disappointing clinical result from Allergy Therapeutics (AGY) has knocked the shares heavily. A third-phase trial of its birch allergy treatment showed no "statistically significant" improvement over the placebo when it came to symptoms and medication.
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But while the company reviews the data, the failure shouldn’t hit group revenues in the short term. It could, however, prompt more competition in the market while the company decides whether to re-run the third-phase trial or try phase two again, albeit with a higher dosage.
