Drug developer Allergy Therapeutics Plc said a study on suitable doses of its therapy to treat grass allergic rhinitis, or hay fever, did not find a recommended dose for a late-stage trial.
This is the second allergy therapy in two weeks to run into trouble, after Circassia Pharmaceuticals Plc said last week that its cat allergy treatment failed in a late-stage trial.
Allergy Therapeutics, which specialises in allergy vaccines, said it now expected to enter the U.S. market later than expected.
The company said it will await the outcome of a meeting with the U.S. Food and Drug Administration later this year. A further dose-ranging study is planned in 2017, it added.
The result implies a 12-month delay in the launch of the treatment in the U.S., Panmure Gordon analyst Mike Mitchell wrote in a note to clients.
REUTERS
