Allergy Therapeutics shares spike on late-stage data

Shares of the UK's Allergy Therapeutics surged on the news that its experimental hay fever vaccine--Pollinex Quattro--demonstrated positive results in a crucial Phase III study, which they say was the largest controlled allergy vaccine study ever conducted. The data paves the way for Allergy Therapeutics to file for marketing approval in Europe in the first quarter of next year. And Allergy Therapeutics CEO Keith Carter heralded the news as the most significant in its 70-year history.

"We would like to partner to accelerate the introduction of the product across Europe and these results will allow us to have very meaningful conversations with partners," Carter told Thomson Financial News.

"Overall, this statistically significant result could provide Allergy Therapeutics with a better marketing case in Europe and potentially enable it to compete more effectively alongside other short course allergy vaccines,'' wrote Piper Jaffray analyst Sam Fazeli.

- here's the release
- read the story from Hemscott