Allergy Therapeutics

AGY · AIM · Health Care · mcap £285m · 4.5p 2 open situations →

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2026 VLP Peanut PROTECT trial Potential equity raise

Open · 2

Project milestones

VLP Peanut PROTECT trial

Still exploring; no timetable

The company began exploring a dual primary listing on HKEX in December 2025. Helge Weiner-Trapness was appointed Executive Chairman on 28 July 2026 to lead it. The 29 July 2026 update says the Group continues to explore it, with no timetable or decision.

Status: Continuing to explore dual primary listing on HKEX 29 Jul 2026 ↗
Award reason: CFO LTIP award recognises significantly higher level of corporate activity
Timetable: None stated 29 Jul 2026 ↗
Leadership: Helge Weiner-Trapness appointed Executive Chairman on 28 July 2026 29 Jul 2026 ↗
Stated benefits: Access to key new markets, expansion into Asia, platform to develop R&D capabilities 28 Jul 2026 ↗

29 Jul 2026 Still exploring; no timetable
28 Jul 2026 Still exploring; Executive Chairman appointed to lead
15 Jun 2026 Still exploring; CFO awarded LTIP for workload
31 Mar 2026 Phase IIb preparation underway

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Dilutive fundraise

Potential equity raise

No raise; debt funded, cash £24.2m

In December 2025 the Board sought authority to issue up to 610m shares without pre-emption, but no raise was agreed. Shareholder loans were repaid via £55m warrant exercises and a £40m Hayfin facility was drawn. At 30 June 2026 cash was £24.2m, with a new £50m unsecured shareholder facility undrawn.

New facility: £40m senior secured 2026 Hayfin Facility, drawn immediately after period end
Cash: £24.2m at 30 June 2026 (30 June 2025: £12.8m), unaudited 29 Jul 2026 ↗
Debt: £20.2m at 31 December 2025 (30 June 2025: £53.4m)
Warrant exercise: £55m shareholder lender warrants exercised; shareholder loan repaid in full
Hayfin facility: £40m senior secured, immediately drawn down 29 Jul 2026 ↗
Warrant proceeds: £55m, applied to repay all shareholder lender debt 29 Jul 2026 ↗

Next: preliminary audited results

29 Jul 2026 No raise; debt funded, cash £24.2m
31 Mar 2026 No raise; £40m Hayfin debt drawn
19 Jan 2026 No raise agreed; £70m uncommitted debt funding available
12 Dec 2025 Authority sought; no investors or terms agreed

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Company filings. Not investment advice.